May brought sunny numbers to real estate activity in the Portland metro area! There were 2,969 closed sales, a 5.9% increase over May 2018 (2,803) ~and a 23.2% increase over last month (2,409).

Pending Sales (3,292) rose 2.8% from May 2018 (3,201) and 6.1% from last month (3,102). There were 4,902 new listings offered! A 5.1% increase from May 2018 (4,665) and a 16.4% increase from last month (4,210).

This was the strongest May for new listings since 2008, when 5,182 were offered. Inventory decreased slightly to 2.1 months in May ~ with total market time decreasing to 48 days in the same period.

Comparing 2019 to 2018 through May, the average sale price has increased 0.9% from $448,600 to $452,700. In the same comparison, the median sale price has increased 0.7% from $399,500 to $402,400.