Closed sales (2,588) rose 6.1% from the 2,440 closings recorded last year in October 2018 and increased 8.9% compared with the 2,377 closings recorded in September 2019.

Pending and closed sales saw gains this month in the Portland metro area compared with October 2018. Pending sales (2,575) rose 3.7% over the 2,484 offers accepted in October 2018, falling 4.1% short of the 2,686 offers accepted last month in September 2019.

New listings, at 3,064, decreased 1.2% from October 2018 (3,100) and 11.7% from September 2019 (3,470). Inventory decreased slightly to 2.4 months this October, while total market time rose by two days to land at 54 days.

Comparing 2019 to 2018 through October, the average sales price has increased 1.2% from 453,600 to 459,000. In the same comparison, the median sales price has increased 2.5% from 400,000 to 410,000.