Latest Residential Real Estate Highlights ~ January 2016

Residential highlights for January 2016 are impressive! Courtesy of RMLS, inventory was reported at a low 1.8 months total. What this means is at the current rate it takes only 1.8 months to sell out all of the available housing stock. The rule of thumb, generally, is that it takes 6 month of inventory to have a “balanced” market. We are in a hyper strong local seller market.

In January our average market time was 57 days. In 2015 the average market time was 82 days. We have decreased market time by an impressive 31.2% when January is compared to 2015 in whole.

Appreciation, which is based on a comparison of the rolling average sales price for the last 12 months, with 12 months before by area is:

North Portland 15.1%
NE Portland 7.8%
SE Portland 9.6%
Milwaukie 8.8%
Gresham/Troutdale 9.6%
Lake Oswego/West Linn 2.1%
Beaverton/Aloha 6.9%
Tigard/Wilsonville 9.7%
Oregon City/Canby 9.5%

Many other housing statistics are available. If you are interested in an area not listed be sure to call 503-772-8825 to talk about your neighborhood.

Courtesy of KJK Properties, P.C. a licensed real estate brokerage in Oregon and Washington.