Portland Oregon Residential Real Estate Review April 2018May 2018 Residential Highlights New listings made some gainsthis May in the Portland metro area. At 4,665, new listings outpaced
Portland Oregon Residential Real Estate Review May 2018
Dated: 06/15/2018
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Portland Oregon Residential Real Estate Review April 2018
May 2018 Residential Highlights
New listings made some gainsthis May in the Portland metro area. At 4,665, new listings outpaced May 2017 (4,388) by 6.3% and rose 16.9% from last month in April 2018 (3,990). This was the strongest May for new listings since 2008, when 5,182 were offered in the month.
Closed sales (2,803) fell 3.2% short of the 2,896 closings recorded last year in May 2017 but showed a 11.1% increase from last month in April 2018 (2,523).
Pending sales (3,201) fared similarly, decreasing 6.8% from May 2017 (3,435) but rising 6.4% from April 2018 (3,008).
Inventory in the Portland metro area remained unchanged in May. During the same time, total market time decreased by five days to end at 37 days.
Year to Date Summary
Activity so far in 2018 is a littlemixed compared to 2017. Newlistings (17,506) are up 4.9%. Closedsales (11,492) are down 0.2%, andpending sales (13,360) are down0.8%.
Average and Median Sale Prices
Comparing 2018 to 2017 through May of each year, the average sale price rose 5.9% from $423,800 to $448,600. In the same comparison, the median sale price rose 8.0% from $370,000 to $399,500.
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