Portland, OR Housing Update – August 2017

August brought mixed activity to the Portland metro area, but closed sales saw some modest gains. Closings rose 1.1% compared to last year in August 2016 and 8.6% compared to last month in July 2017.

New listings ended 3.7% under both July 2017 when 4,202 new listings were offered, and August 2016 when 4,203 new listings were offered for the month.

Activity has been cooler so far in 2017 compared to 2016. New listings are down 2.6%, closed sales are down 2.7%, and pending sales are down 7.6%.

Prices continue to rise in the Portland metro area. Comparing 2017 to 2016 through August, the average sale price rose 9.3% from $392,600 to $429,000. In the same comparison, the median sale price rose 10.7% from $343,200 to $379,900.

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