Real Estate Industry News – July 2023

Piatt Real Estate News; bringing you the Portland Metro and Willamette Valley update.

Yes, I ADDED a to our Region; in addition to the Willamette Valley, I now will be assisting our Portland Metro Area in the Sales Arena. Not limited to but directly covering a total of 8 counties.

Benton, Clackamas, Linn, Marion, Multnomah, Polk, Washington, and Yamhill Counties.

Which gives me, YOU…us, an expanded arena of knowledge and professionals to bring information like this:

Year over year

What’s Up? 2 things….

  • Median days on market – 54, normal
  • Months of supply – 2 months or less than

What’s Down?

  • Price – 1%
  • Closed sales – 24%
  • New listings – 15%

What does that all mean?

  • New Listings remain low for the season, though are trending upwards as expected for late spring into summer.
  • For most of the past 3 months we have been barely matching inventory levels during 2020 which were the COVID lockdown times.
  • It was a difficult market then, and it’s a difficult market now. Don’t expect it to change overnight.
  • 2021 and 2022 had huge demand that drove market time down, but that time is over.
  • Those years were the UNICORN years.
  • Pretend they didn’t happen because those years were 100% government influenced.
  • However, market time remains in line with 2020 and 2019 norms.
  • Despite the decrease in inventory causing a reduction in pendings and solds, market time remains at a very normal level for this time of year.
  • Despite the shift, homes are not sitting on the market for longer than we’ve seen in more normal years.

So what does that mean to you?

Friendly remind to STAY LOCAL! Whatever you are buying or selling!

  • People will always need to buy and sell real estate, just do it wisely:
    • Death, Divorce, Destination, Duplication
  • Start with me, your local title company with the largest footprint in Oregon AND…..
  • Talk to a local agent and a lender and find out what works for you.
  • And remember, if you’re paying rent, you’re paying someone else’s mortgage, which I am sure they greatly appreciate… and consider.

Thank you for joining another edition of Piatt News | Your local Real Estate Source


Ticor Title Mid-Valley

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STE 150
Salem, OR 97301

Phone: 503-585-1881

Fidelity National Title Group

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