Whether you are a long time resident of our beloved Oregon City or you are house hunting in our area, it’s important for you to know the current position of our real estate market as it pertains to the potential value of your current or future home!
Oregon City Market Update
The median list of prices for Oregon City, OR 97045 is $754,900 with the market action index hovering around 78. This is an increase over last month’s market action index of 80. Real estate inventory has also increased to 64.
The Market Action Index answers the question, “How’s the Market?” by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller’s market condition. Below 30, conditions favor the Buyer. Currently our market lands at a 78, indicating that we are in a sellers market.
In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable.
Real Time Market Profile
Portland Metro Market Overview
New listings (4,298) increased 17.5% from the 3,658 listings in June 2020, and increased 8.2% from the 3,971 homes listed in May 2021. Pending sales (3.534) decreased 3.3% from the 3,654 offers accepted in June 2020, and decreased 4.9% from the 3,717 offers accepted in May 2021. Closed sales (3,477) increased 28.3% from the 2,709 closings recorded last year in June 2020, and increased 9.2% from the 3,183 closings in May 2021. Inventory climbed to .8 months in June and total market time decreased to 21 days.
“We can’t recommend Noelle highly enough. As first time buyers, we required a little bit of hand-holding. She learned our aesthetic quickly, understood our needs, and helped us get there. When she needed to be aggressive with sellers, she was, but she seemed to have a way of massaging things so that everyone felt excited about the process. Always personal, never compromising professionalism. We give her all the stars!” - David & Emily Greco (Buyers)
Navigating this current real estate market can feel a bit overwhelming. If you are ever looking for more resources and information about listing or purchasing a home, feel free to explore my real estate website. If you are looking for sales data for your specific Oregon City neighborhood be sure to contact me!