May Residential Highlights New listings made some gains this May in the Portland metro area. At 4,665, new listings outpaced May 2017 (4,388) by 6.3% and rose 16.9% from last month in April 2018 (3,990). This was the strongest May for new listings since 2008, when 5,182 were offered in the month. Closed sales (2,803) fell 3.2% short of the 2,896 closings recorded last year in May 2017 but showed a 11.1% increase from last month in April 2018 (2,523). Pending sales (3,201) fared similarly, decreasing 6.8% from May 2017 (3,435) but rising 6.4% from April 2018 (3,008). Inventory in the Portland metro area remained unchanged in May. During the same time, total market time decreased by five days to end at 37 days.
Year to Date Summary Activity so far in 2018 is a little mixed compared to 2017. New listings (17,506) are up 4.9%. Closed sales (11,492) are down 0.2%, and pending sales (13,360) are down 0.8%.
Average and Median Sale Prices Comparing 2018 to 2017 through May of each year, the average sale price rose 5.9% from $423,800 to $448,600. In the same comparison, the median sale price rose 8.0% from $370,000 to $399,500.May Residential Highlights New listings made some gains this May in the Portland metro area. At 4,665, new listings outpaced May 2017 (4,388) by 6.3% and rose 16.9% from last month in April 2018 (3,990). This was the strongest May for new listings since 2008, when 5,182 were offered in the month. Closed sales (2,803) fell 3.2% short of the 2,896 closings recorded last year in May 2017 but showed a 11.1% increase from last month in April 2018 (2,523). Pending sales (3,201) fared similarly, decreasing 6.8% from May 2017 (3,435) but rising 6.4% from April 2018 (3,008). Inventory in the Portland metro area remained unchanged in May. During the same time, total market time decreased by five days to end at 37 days.
Year to Date Summary Activity so far in 2018 is a little mixed compared to 2017. New listings (17,506) are up 4.9%. Closed sales (11,492) are down 0.2%, and pending sales (13,360) are down 0.8%.
Average and Median Sale Prices Comparing 2018 to 2017 through May of each year, the average sale price rose 5.9% from $423,800 to $448,600. In the same comparison, the median sale price rose 8.0% from $370,000 to $399,500.
If you’ve thought about selling please give Rachel a call for information on your home value, steps it takes to sell and what to expect when you sell and/or buy. She has helped many people successfully sell their home and she can help you too! For more information on the current real estate market and how you fit in it please call, email, or text anytime.
Five Star award Winner 2011-2018 honoring the top 7% of real estate professionals in Oregon.
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Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, MASTERS CIRCLE, Earth Advantage Broker, Diversity Specialist-HOWNW, CSA-Certified Staging Agent, Oregon First, Washington First
Direct 503.380.9634, Email- rachel@rachelsheller.com
View a current list of ALL available Houses on the market on my website.
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Licensed in the State of Oregon and Washington
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