Market Conditions Ending August 31, 2017

The Portland Metropolitan market conditions ending August 2017 shows the supply of real estate decreased, the demand for housing stayed the same and the overall value of real estate is appreciating when comparing this year to last year (Aug 2017 vs Aug 2016).

Specifically, the current inventory in the Portland Metro area is at 2.0 months, which is an increase by 0.1 month when comparing last August 2016. From last month (July 2017) inventory is down .1 month. Further two years ago (ending August 2015) inventory was lower at 1.9 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 34 days. Last year, at this time, the total days on market finished at 34 days. This reflects no change. (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 $418,700 which is a 9.6% increase (from $382,000) when comparing the rolling average sales price from last year.

Market recap comes mid September.