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.
October Residential Highlights
Oregon City/Canby is leading the pack right now at 4.9% appreciation! Winds of change are a blowin’. It still is a really good time to make a move if you’ve been kicking it around. Most people don’t know the Winter months are great times to move. Less completion if your a seller, and if your a buyer there typically have been many houses that have been sitting on the market ready for negotiation. Here are some stats;
Pending and closed sales saw gains this month in the Portland metro area, compared with October 2018. Pending sales (2,575) rose 3.7% over the 2,484 offers accepted in October 2018, falling 4.1% short of the 2,686 offers accepted last month in September 2019.
Closed sales (2,588) rose 6.1% from the 2,440 closings recorded last year in October 2018 and increased 8.9% compared with the 2,377 closings recorded last month in September 2019.
New listings, at 3,064, decreased 1.2% from October 2018 (3,100) and 11.7% from September 2019 (3,470).
Inventory decreased slightly to 2.4 months this October, while total market time rose by two days to land at 54 days.
Average and Median Sale Prices
Comparing 2019 to 2018 through October, the average sale price has increased 1.2% from $453,600 to $459,000. In the same comparison, the median sale price has increased 2.5% from $400,000 to $410,000.
For more information on what these numbers mean to you, please call, email or text. I’m here for you and your!
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