A Publication of RMLS™, The Source for Real Estate Statistics in Your Community Residential Review: Metro Portland, Oregon December Residential Highlights The Portland metro area saw mixed numbers this December, but new listings made gains compared to December 2016. At 1,617, new listings showed a 13.8% increase compared to December 2016, despite a 33.1% decrease from last month in November 2017 (2,416). This was the strongest December for new listings in the Portland metro area since 2011, when 1,700 new listings were offered. Pending sales (1,757) exactly matched the 1,757 offers accepted last year in December 2016 but showed a 25.9% cooling from the 2,371 offers that were accepted last month in November 2017. Closed sales, at 2,350, ended with a 10.3% decrease from December 2016 (2,621) and fell 1.6% short of the 2,387 closings recorded last month in November 2017 as well.
2017
Portland Metro Residential Highlights
2016
Total market time in December ended at 55 days, with inventory decreasing slightly to 1.6 months.
Year to Date Summary Activity in 2017 was a little cool compared to 2016. New listings (40,805) decreased 0.8%, closed sales (31,624) decreased 3.6%, and pending sales (31,330) decreased 5.7%. Average and Median Sale Prices Prices continued to rise in the Portland metro area in 2017. Comparing the entirety of 2017 to 2016, the average sale price rose 8.5% from $395,000 to $428,700. In the same comparison, the median sale price rose 9.5% from $347,000 to $379,900.
Inventory in Months* 2015 2016 2017 January 3.4 1.8 1.7 February 3.0 1.8 1.9 March 1.9 1.3 1.3 April 1.8 1.4 1.7 May 1.7 1.4 1.5 June 1.6 1.5 1.6 July 1.7 1.9 2.1 August 1.9 1.9 2.0 September 1.9 2.0 2.3 October 1.8 2.0 2.1 November 2.0 1.8 1.9 December 1.2 1.3 1.6 *Inventory in Months is calculated by dividing the Active Residential Listings at the end of the month in question by the number of closed sales for that month. This includes proposed and under construction homes. Percent Change of 12-Month Sale Price Compared With The Previous 12 Months Average Sale Price % Change: +8.2% ($428,700 v. $396,300) Median Sale Price % Change: +9.3% ($379,900 v. $347,500)
For further explanation of this measure, see the second footnote on page 2.
New Listings
Pending Sales
Closed Sales
Average Sale Price
Median Sale Price
Total Market Time
December
1,617
1,757
2,350
421,700
380,000
55
November
2,416
2,371
2,387
425,000
377,000
51
40,805
31,330
31,624
428,700
379,900
45
1,421
1,757
2,621
399,300
349,900
49
Year-to-date
41,121
33,234
32,798
395,000
347,000
42
December
13.8%
0.0%
-10.3%
5.6%
8.6%
11.7%
Prev Mo 2017
-33.1%
-25.9%
-1.6%
-0.8%
0.8%
7.8%
Year-to-date
-0.8%
-5.7%
-3.6%
8.5%
9.5%
7.7%
Year-to-date
Change
December 2017 Reporting Period
December
© Copyright RMLS™ 2018. All Rights Reserved.