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!