Homes for Sale vs. Homes Sold – July 2016-2017
This real estate market graph shows residential detached homes for sale versus homes that have sold in Portland, OR area codes 97212, 97213 and 97232 from July 2016 to July 2017. These area codes cover the Hollywood district and surrounding neighborhoods. In just one year Portland has seen a 40% increase in residential detached homes for resale. Of that 40%, 31.7% sold.
The market had a slight decrease in the winter months but spiked when the weather heated up. In July 2017, Portland saw the highest amount of homes on the market at 147 homes for sale. What is the probability of those 147 homes selling? The summer season is one of the more popular times to sell homes because the weather is nice and it is more enticing to roam around the city.
*Days on Market
This table shows the number of DOM (Days on Market) for each month of home sales. The highest the DOM, the fewer homes were for sale. For the month of July for both 2016 and 2017 the market saw the fewest DOM of homes for sale. From this trend, we can conclude that the selling rate is not moving from its already fast pace of sales.