Portland Oregon And Surrounding Area Residential Real Estate Review October 2018

Dated: 11/16/2018

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Portland Oregon and Surrounding Area Residential Real Estate Review October 2018


October Residential Highlights

Portland metro saw some mixed numbers this October, but new listings showed a gain compared with last year. At 3,100, new listings rose 4.0% above the <a href=Portland Oregon Area Real Estate Inventory" src="https://kunversion-frontend-blog.s3.amazonaws.com/images/5ee64ac2396361b909dc6ca6dc5ee4daa4716ccc.png" width="219" title="Portland Oregon Area Real Estate Inventory">2,981 new listings offered last year in October 2017, despite ending 14.0% under the 3,606 new listings offered last month in September 2018. This was the strongest October for new listings in the area since 2010 when 3,119 were offered.

Closed sales (2,440) fell 4.9% short of October 2017 when 2,565 closings were recorded but improved 7.4% over last month in September 2018, when 2,272 closings were recorded.

Pending sales, at 2,484, fared similarly, decreasing 8.2% from October 2017 (2,705) but pushing 0.5% past the 2,471 offers accepted last month in September 2018.

Inventory decreased to 2.7 months in October, with total market time creeping up to 53 days. There were 6,550 active residential listings in the Portland metro area this October.

Year to Date Summary

Activity so far in 2018 is mixed compared to 2017. New listings (37,620) are up 2.7%. Pending sales (26,484) are down 3.3% and closed sales (25,551) are down 3.8% for the year so far.

Average and Median Sale Prices

Comparing 2018 to 2017 through October of each year, the average sale price rose 5.6% from $429,400 to $453,600. In the same comparison, the median sale price rose 5.3% from $379,900 to $400,000.

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Area Specific Data - Drilling Down

Each subset of the Portland Area shows how unique each micro area is when it comes to Real Estate. If you are considering selling or buying a home or investment property, let's talk and we can walk through the task together.

<a href=Portland Oregon Real Estate Subset Data by Micro Area" src="https://kunversion-frontend-blog.s3.amazonaws.com/images/1922502a755b22548891cadf7d78642dc750467d.png" width="820" title="Portland Oregon Real Estate Subset Data by Micro Area">

 

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