Market Conditions Ending May 31, 2014

The Portland Metropolitan market conditions ending May 2014 shows the supply of real estate stayed the same, the demand for housing increased and the overall value of real estate is appreciating when comparing this year to last year (May 2014 vs May 2013). 

Specifically, the current inventory in the Portland Metro area is at 2.8 months, which is a decrease by .3 when comparing last May 2013. From last month (April 2014) inventory is the same. Further two years ago (ending May 2012) inventory was higher at 4.2 months.   (Inventory is calculated by dividing the total active residential listing at the end of the month by the number of closed sales for that month). 

The total current market time resides at 67 days. Last year at this time the total days on market finished at 85 days. This reflects a 21.0% decrease. (Total market time is calculated by the number of days from when a property is listed to when an offer is accepted on the same property. ) 

The 12 month rolling average sales price currently reflects an average sales price of $320,400 which is a 10.6% increase (from $289,800) when comparing the rolling average sales price from last year.