Market Conditions Ending April 30, 2017

The Portland Metropolitan market conditions ending April 2017 shows the supply of real estate declined slightly, the demand for housing increased slightly and the overall value of real estate is appreciating when comparing this year to last year (April 2017 vs April 2016). 

Specifically, the current inventory in the Portland Metro area is at 1.7 months, which is an decrease by 0.1 months when comparing last April 2016. From last month (March 2016) inventory is up .4 months. Further two years ago (ending April 2015) inventory was slightly higher at 1.8 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 42 days. Last year at this time the total days on market finished at 43 days. This reflects a 2% 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 $406,500 which is a 11.3% increase from $365,200) when comparing the rolling average sales price from last year.