Portland Market Update


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    Portland Market Trends

    Trends in Portland show a 6% year-over-year rise in median sales price and a 2% rise in median rent per month.

    Median Sales Price $412,900

    Price Per SqFt $290

    Median Rent Per Month $2,150

    Market Update 

    November

     

    November Residential Highlights
     The Portland metro area saw new listings make gains this November compared to November 2016. There were 2,416 new listings offered, a 16.2% increase from the 2,080 new listings offered last year in November 2016, but a 19.0% decrease compared to last month in October 2017 (2,981).

    Pending sales (2,371) similarly increased 4.6% compared to November 2016, but fell 12.3% short of the 2,705 offers accepted last month in October 2017.

    Closed sales, at 2,387, fell 1.9% short of the 2,434 closings recorded in November 2016 and 6.9% short of the 2,565 closings recorded in October 2017.

    November saw inventory tighten slightly to 1.9 months, with total market time increasing to 51 days.
    Year to Date Summary
    Activity has been cooler so far in 2017 compared to 2016. New listings (39,103) are down 1.2%, closed sales (29,098) are down 3.0%, and pending sales (29,628) are down 6.2%.
    Average and Median Sale Prices
    Prices continue to rise in the Portland metro area. Comparing 2017 to 2016 through November, the average sale price rose 8.7% from $394,800 to $429,000. In the same comparison, the median sale price rose 9.5% from $347,000 to $379,900.

    Highlights

     

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    Keller Williams Realty Professionals
    9755 SW Barnes Rd. Ste. 560 | Portland, OR 97225
    Direct: 503.974.4104 | Office: 503.546.9955

    www.HatchHomes.com

     Each office is independently owned and operated.