Portland Oregon Housing Update – November 2017

The Portland metro area saw new listings make gains this November compared to November 2016. There was a 16.2% increase from the 2,080 new listings offered last year in November 2016, but a 19.0% decrease compared to last month in October 2017.

Pending sales similarly increased, 4.6%, compared to November 2016, but fell 12.3% short of the 2,705 offers accepted last month in October 2017.

Closed sales fell 1.9% short of the 2,434 closings recorded in November 2016 and 6.9% short of the 2,565 closings recorded in October 2017.

November saw inventory tighten slightly to 1.9 months, with total market time increasing to 51 days.

Prices continue to rise in the Portland metro area. Comparing 2017 to 2016 through November, the average sale price rose 8.7% from $394,800 to $429,000. In the same comparison, the median sale price rose 9.5% from $347,000 to $379,900.

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