Portland Real Estate Market Analysis for May 2021
Whether or not you love statistics, there’s no denying that once you begin to take an interest in the real estate market, those numbers become the key to the moves you’ll make to acquire or divest yourself of property.
In Portland, the real estate market is dynamic, which is why even non-math types will find the following data, reflecting transactions that took place in May 2021, to be easy to understand and comprehensive enough to assist you in your quest to buy or sell property in the Portland real estate market:
-As of May, new listings within the Portland real estate market grew 16.1-percent compared to May 2020 listings of 3,419.
-Pending home sale numbers also increased between May 2020 (19.4-percent) and April 2021 (9.3-percent).
-The most dramatic increases came from a 62.1-percent rise in closings since May 2020 (3,183, up from 1963).
-For sellers seeking larger homes, upgrades, or planning relocations in the Portland real estate market, inventory held steady at 0.7 months throughout May 2021.
-More good news for sellers: the average time homes stayed on the market decreased to 22 days.
-The period between May 2020 and May 2021 saw a healthy 19-percent in home sale prices. The average cost of a Portland home went from $465,600 to $553,500.
You don’t have to understand statistics to conclude that May 2021 continued to usher in a seller’s market with Portland properties trending upward. Portland’s real estate market is not just dynamic but thriving – which is why you need a professional advocate on your behalf when you're ready to act.
Sure, there are plenty of real estate companies in Portland -- but wouldn’t you rather work with the best of the best?
At Peak Realty, we love statistics as much as we love coffee, so putting your real estate needs into our hands relieves you of having to crunch numbers to glean the most advantageous resolution for your unique situation.
We know the area better than other real estate companies in Portland because we live here. Do we keep track of stats monthly? We do better than that. Visit our website, consult the box on the right side of each page, and you can watch transaction numbers as they occur in real-time!
Importantly, we are deeply committed to making all aspects of communication with our clients crystal clear. You won’t be taken for a ride by a realtor more interested in closing deals than satisfying clients.
Our clients don’t hesitate to put us on the top of their best real estate companies in Portland lists and we would be delighted to have you join them. Our offices are located at 4949 Meadows Road in Portland and staff professionals -- Brandon, Jeff, Marcus, Ben, Raleigh, and Lucas -- can all be reached at (503) 902-4777.
Still not getting out because you’re following COVID-19 best practices? We understand. Use our e-mail address to reach out: [email protected] We promise to respond quickly!