Let’s take a look at the current state of the Portland real estate market amid the coronavirus pandemic. Then we’ll discuss the investment opportunities in Portland for real estate investors. When COVID19 hit Oregon hard in March of 2020 the homebuyer turnout decreased massively. In April, things improved a bit. Portland buyer traffic increased about 40% from March but it was still down about 30% from April of the previous year. Things improved further in May when pending sales and new listings surged in the Portland housing market.
The average sale price in the Portland-area dipped by a mere 0.8% to $467,500 in May compared to April 2020′s $477,400. The median sale price held steady from April ($424,000) to May ($425,000). In May 2020, there was a 2.3 month supply of homes for sale, which was steady with April 2020′s 2.4 month supply but an increase from March 2020′s 1.8 month supply. The latest “PORTLAND HOUSING MARKET REPORT” is given below.