Monthly Local Market Report
How’s The Market?
Below is an excerpt from the Regional Multiple Listing Service’s most recent “Market Action” report that comes out monthly and is e-mailed to all member Realtors. This is data specific to the Portland Metro Area market.
September Residential Highlights
Pending and closed sales saw gains this month in the Portland metro area, compared with September 2018. Pending sales (2,686) rose 8.7% over the 2,471 offers accepted in September 2018, falling 8.3% short of the 2,929 offers accepted last month in August 2019.
Closed sales (2,377) fared similarly, rising 4.6% from the 2,272 closings recorded last year in September 2018 but showing cooling of 18.1% compared with the 2,901 closings recorded last month
in August 2019.
New listings, at 3,470, decreased 3.8% from September 2018 (3,606) and 7.6% from August 2019 (3,757).
Inventory increased slightly to 2.8 months this September, while total market time rose by four days to land at 52 days.
Average and Median Sale Prices
Comparing 2019 to 2018 through September, the average sale price has increased 1.1% from $453,800 to $458,900. In the same comparison, the median sale price has increased 2.5% from $400,000 to $410,000.
The above table with data from the RMLS for specific areas. Note that Appreciation is based on a comparison of the rolling average sale price for the last 12 months with the 12 months prior. Days on Market is the number of days from when a property is listed to when an offer is accepted on that same property. If a property is re-listed within 31 days, DOM continues to accrue; however, it does not include the time that it was off the market:
For more information on your neighborhood, and property (each neighborhood is valued differently) call, email, or text me for more information.
IT’S A GOOD LIFE!! RACHEL SHELLER
Principle Broker,Realtor,CRS, ABR, GRI, SRES, CSA (Staging Agent)
HOWNW, MASTERS CIRCLE
Five Star award 2011-2019
Oregon First Realty
123 E Powell Blvd. #101
Gresham, OR 97030
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