April Residential Highlights
Real estate activity in the Portland metro area is still buzzing this April. The 3,613 pending sales showed a 27.9% increase over the 2,825 offers accepted in April 2014 and a 6.8% increase over the 3,384 offers accepted last month. It was the strongest April for pending sales since 2005, when there were 3,950 posted for the month.
Similarly, closed sales (2,734) fared 27.6% better than April 2014 (2,143) and 11.3% better than March 2015 (2,457), and also represented the strongest April since 2005, when there were 3,051 closings posted.
New listings (3,949) fared 8.8% better than the 3,629 listings offered in April 2014 and 9.8% better than the 3,596 listings offered last month. The last April with more new listings being offered was in 2010, when there were 4,713.
April’s inventory decreased again to 1.8 months, and total market time decreased to 61 days. Active residential listings numbered 4,853 at the end of April.
Average and Median Sale Prices
Prices have been higher in 2015 than in 2014. Comparing each year through April, the average sale price rose 3.5% from $325,100 to $336,400. In the same comparison, the median sale price rose 5.5% from $275,000 to $290,000.
Inventory in Months* 2013 2014 2015 January 4.7 4.1 3.4 February 4.5 3.9 3.0 March 3.2 3.1 1.9 April 3.1 2.8 1.8 May 2.5 2.8 June 2.9 2.8 July 2.8 2.9 August 3.1 3.0 September 3.7 3.1 October 3.4 2.8 November 3.7 3.2 December 3.2 2.3
Thank you RMLS for these stats…
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