Market Conditions Ending March 31, 2015

The Portland Metropolitan market conditions ending March 2015 shows the supply of real estate declined, the demand for housing increased and the overall value of real estate is appreciating when comparing this year to last year (Mar 2015 vs Mar 2014).

Specifically, the current inventory in the Portland Metro area is at 1.9 months, which is a decrease by 2.2 months when comparing last March 2014. From last month (February 2015) inventory is down -1.1 months. Further two years ago (ending Mar 2013) inventory was higher at 3.2 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 75 days. Last year at this time the total days on market finished at 85 days. This reflects a 11.6 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 $334,600 which is a 5.8% increase (from $316,300) when comparing the rolling average sales price from last year.