Oregon

This summer, the Oregon market remains fairly strong, despite high mortgage interest rates.

Portland Metro listing inventory is down by 7.7% in Q2 compared to June of 2023. That being said, pending sales are only down by 2.2% year-over-year. So the anticipated flood of new listings did not happen and prices remained strong!

The Willamette Valley saw new listings decrease by 10.1% in June, with the median days on market increasing by 5.4%. However the median sales price is hovering right around $435,000.

Bend has seen a ~$30,000 year-over-year increase in average sales price, from $593,658 in June 2023 to $625,858 in June 2024.

We prepare for the continued cyclical increase of not only new listings, but also new pending transactions and sales — fairly typical for the summer months in Oregon. As more and more listings enter the market, I anticipate late summer to be very busy!

COAR- Bend: YoY median sale and list prices

RMLS- Portland Metro: Year to date Residential Highlights

WVMLS June 2024 stats:

Actionable Advice for Oregon Agents:

• Stay Updated on Market Trends. Regularly review market reports and trends from trusted industry publications. This market report is a great place to start!
• Enhance Client Relationships. Provide personalized service and maintain regular follow-up.
• Leverage Technology. Use the tools you have to stay in touch with your clients by providing value.
  
  
• Master Marketing and Lead Generation. Utilize both online and offline marketing strategies.
  
  
• Continuously Educate Yourself. Stay updated on new industry rules and best practices — now more than ever!

If you have any questions or concerns, please do not hesitate to reach out. I’m only a call or text away: 503-267-7202.