Portland Market Update Mid-Year Residential Highlights

August 10, 2017

Year to Date Summary.  Activity has been cooler so far in 2017 compared to 2016. New listings (21,505) are down 1.8%, closed sales (14,866) are down 3.9%, and pending sales (16,572) are down 7.2%.  Realtors and other market observers will be looking closely at fall sales as a bellwether for the 2018 market.  (See our Notes from Shannon and Jeanne for details.)

Average and Median Sale Prices.  Prices continued to rise in the Portland Metro area during the first half of the year.  Comparing prices through June 2017 to June 2016, the average sale price rose 9.8% from $388,800 to $427,000.


Mid-Year 2017 Average Residential Sales Price and Appreciation by Area

Inventory moved up incrementally to 1.6 months in June.  The average number of days a property stayed on the market before going under contract (“pending”) was only 38 days.