Market Conditions Ending July 31, 2016

The Portland Metropolitan market conditions ending July 2016 shows the supply of real estate decreased, the demand for housing increased and the overall value of real estate is appreciating when comparing this year to last year (July 2016 vs July 2015).

Specifically, the current inventory in the Portland Metro area is at 1.9 months, which is a decrease by 1.0 months when comparing last July 2015. From last month (June 2015) inventory is up .4 month. Further two years ago (ending July 2014) inventory was higher at 2.9 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 32 days. Last year at this time the total days on market finished at 45 days. This reflects a 29.6% 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 $376,800 which is a 9.2% increase (from $345,000) when comparing the rolling average sales price from last year.