Portland, OR Housing Update – May 2017

New listings ticked upward in the Portland metro area this May. New listings outpaced May 2016 by 5.9% and April
2017 by 16.7%. This was the strongest May for new listings in the area since 2008, when 5,182 new listings were offered.

Closed sales exactly matched May 2016 and showed a 30.5% increase over last month in April 2017. Pending sales fell 3.6% shy of the 3,563 offers accepted last year in May 2016 but still outpaced last month, April 2017 by 11.2%.

Prices continue to rise in the Portland metro area. Comparing 2017 to 2016 through May, the average sale price rose 10.7% from $383,000 to $423,800. In the same comparison, the median sale price rose 10.7% from $334,200 to $370,000.

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