Portland, OR Housing Update – June 2017

It was another good month for new listings this June in the Portland metro area. There were 4,739 new listings recorded, a 5.3% increase over the 4,501 new listings offered last year in June 2016 and a 8.0% increase over the 4,388 new listings posted last month in May 2017. It was the strongest June for new listings since 2008, when 5,213 were offered for the month.

Closed sales, at 3,187, fared 0.9% better than last year in June 2016 (3,158) and 10.0% better than last month in May 2017 (2,896). As a result, inventory snuck up to 1.6 months in June, with total market time decreasing by one day, to end at 38 days.

Prices continue to rise in the Portland metro area. Comparing 2017 to 2016 through June, the average sale price rose 9.8% from $388,800 to $427,000. In the same comparison, the median sale price rose 10.3% from $339,900 to $375,000.

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