January Metro Market Real Estate Statistics
The latest Market Action reports are now available from RMLS™ for the reporting period of January 2018.
January Residential Highlights
Metro market report January -The Portland metro area saw plenty of pending sales and new listings this January. Pending sales, at 2,311, outpaced January 2017 (1,990) by 16.1% and December 2017 (1,757) by 31.5%. It was the strongest January for pending listings in the metro area since 2007, when 2,544 offers were accepted in January. The market continues to be tough for first time home buyers looking at detached homes under $350,000.
Inventory rose a bit in January, ending at 2.2 months. During the same period, total market time increased by five days to end at 60 days. There were 3,518 active
residential listings in the Portland metro area in January. Be the first to know when home come to market!
Average and Median Sale Prices
Comparing the average price of homes sold in the twelve months ending January 31st of this year($430,100) with the average price of homes in the twelve months ending January 2017 ($399,600) shows an increase of 7.6%. In the same comparison, the median has increased 8.6% from $350,000 to $380,000.