| The Portland metro area market has cooled year over year, but still showed strong gains from this February’s data. With 3,504 new listings, we saw 43.4% increase over February 2019 but 3.9% short of the 3,648 new listings offered last March.
Pending sales ended 5.4% below the 2,894 offers accepted last year in March 2018 but rose 24.0% over offers accepted in February 2019. Closed sales fared similarly, ending 7.9% below the 2,371 closings recorded in March 2018 but rising 26.5% from last month’s data.
Inventory decreased to 2.2 months in March, with total market time decreasing to 68 days. There were 4,808 active residential listings on the market in the Portland metro area this March.
Home prices continue to rise with average sale prices (comparing March 31st 2019 with the average price of homes in the twelve months ending March 2018) showing an increase of 4.1%. In the same comparison, the median has increased 3.9% from $385,000 to $400,000. |
