Portland, OR Housing Update – October 2017

The Portland metro area saw cooler numbers almost across the board this October. New listings made the solitary gain — the 2,981 new listings offered outpaced October 2016 by 1.8% despite a 18.2% decrease from last month in September 2017.

Closed sales fell 0.9% short of the 2,589 closings recorded last year in October 2016 and 3.6% short of the 2,660 closings recorded in September 2017. Pending sales fared similarly, showing a 4.8% decrease from October 2016 and a 0.9% decrease from last month in September 2017.

Prices continue to rise in the Portland metro area. Comparing 2017 to 2016 through October, the average sale price rose 9.0% from $393,900 to $429,400. In the same comparison, the median sale price rose 10.1% from $345,000 to $379,900.

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