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January Metro Market Real Estate Statistics

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.

Copy of full report here

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Jamohl DeWald

One of my greatest joys as a real estate professional is handing over the keys of ownership to a first-time home buyer. As an experienced agent, I understand that preparation is important to avoid missteps with that first home purchase. I’m here to help with navigating the waters of those potential missteps.

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