PORTLAND, Ore. - Low inventories continue to plague Portland’s residential market, with one broker forecasting a “severe seller’s” market continuing into spring.
Nick Krautter of Keller Williams Realty said the combination of few new listings coupled with strong buyer activity promises to keep the inventory of homes low in the coming months.
Every Portland neighborhood is affected by low inventories, which is measured in terms of how many months the current number of homes would last given demand. The market is balanced when the inventory level is at six months.
Downtown Portland, with a 5.8-month inventory, is the only market that comes close to favoring buyers.
Other markets are marked by extremely low inventories:
- Overlook 0.4 months
- Sellwood/Eastmoreland 0.9 months
- Irvington/Grant Park 1.0 months
- Ladds/Hawthorne 1.1 months
- Piedmont/Concordia 1.1 months
- Foster/Powell/Brentwood 1.1 months
- Rose City Park/Hollywood 1.3 months
- Beaverton 1.5 months
- Kerns/Laurelhurst 1.6 months
- Arbor Lodge/Kenton 1.6 months
- East and West Cully 1.7 months
- St. Johns 1.9 months
- West Hills/Goose Hollow 2.2 months
- Gresham 2.6 months
- Vancouver 2.7 months
- Multnomah Village/Southwest 3.1 months
- Nob Hill/Northwest 3.9 months
- Happy Valley 4.3 months
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