Pending sales saw gains this July in the Portland metro area. At 3,071, pending sales outpaced July 2017 (3,040) by 1.0% and June 2018 (3,059) by 0.4%.

New listings, at 4,312, outpaced July 2017 (4,202) by 2.6%, but cooled 4.5% when compared with June 2018, when 4,515 new listings were offered. Closed sales (2,736) cooled 2.0% from July 2017 (2,793) and 7.1% from June 2018 (2,946).

Total market time decreased by one day in July, ending at 36 days. During the same period, inventory increased slightly to 2.4 months. July saw 6,549 active residential listings on the market.

Comparing 2018 to 2017 through July of each year, the average sale price rose 6.0% from $428,000 to $453,600. In the same comparison, the median sale price rose 5.8% from $378,000 to $400,000.