New listings, at 2,444, fell 3.4% short of February 2018 (2,530) and 19.8% short of January 2019 (3,048). This was the coolest February for new listings in the Portland metro area since 2014, when 2,354 were put on the market.

Pending sales (2,208) fared similarly, ending 5.5% under the 2,337 offers accepted in February 2018 but rising 8.0% over the 2,045 pending sales from January 2019.

Closed sales, at 1,726, rose 19.0% ahead of the 1,451 closings recorded last month in January 2019, but fell 4.4% short of the 1,806 closings recorded last year in February 2018. Inventory decreased to 2.7 months in February, with total market time decreased by one day to 75 days.

Comparing the average price of homes sold in the 12 months ending February 28th of this year ($452,100) with the average price of homes in the 12 months ending February 2018 ($432,200) shows an increase of 4.6%. The median has increased 4.4% from $383,000 to $400,000. The median has increased 4.4% from $383,000 to $400,000.