January 2014 RMLS MARKET ACTION

17 01 2014

inventory Inventory…It really wasn’t a term we used much as brokers 15 years ago.  In fact, the RMLS Market Action did not start publishing the inventory until 2001.

That being said, it is a way to use the concept of supply and demand in a general sense.  If there is high demand with low supply, prices will go up.  If there is high demand with high supply, then prices go down.  If there is low demand and high supply, prices go down.  If there is low demand and low supply prices go down a little slower.

inventory 2

The good thing for us is that this is pretty typical prior to 2006 when the climb in winter inventory numbers started to hit the map.  We have been here many times before and can chaulk it up as a seasonal thing.  Most low numbers in the winter were all relative to the markets they experienced the year before going all the way back to 2001.  This year is no different—inventory may be a cause we can look to for answers as well as they previous 12 months in order to chart the waters ahead.

ship

 

 

Compared to Last Year

Inventory down to 3.2 months.

Closed sales up 1.3%.

Pending sales up 7.2%

New listings up 3.7%.

Average Sales Price up 12.9%

Median Sales Price up 12.8%

 

Compared to Last Month

Closed sales down 2.1%

Pending sales down  18.8%

New listings down 32.5%

Average Sales Price up -3.0%

Median Sales Price up -1.0%

 

 

 

View The Full Report Here: RMLS Market Action Portland Metro Jan 15, 2014

 

Dustin Miller

Broker/ Market Analyst

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