In November 2017, there were 2,416 new listings offered in the Portland metro area. This was a 16.2% increase compared to last year in November 2016. However, there was a 19.0% decrease in new listings in November compared to last month in October 2017. Pending sales were up from last year, but also fell when compared to last month. Closed sales, at 2,387, were down from both last year at this time and last month. Listings saw an average market time of 51 days.

Activity has been cooler so far in 2017 compared to 2016. New listings (39,103) are down 1.2%, closed sales (29,098) are down 3.0%, and pending sales (29,628) are down 6.2%.

Prices are continuing 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.

If you have any questions, please don’t hesitate to get in touch with us. We are always happy to help.