Market Conditions Ending June 30, 2017

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

Specifically, the current inventory in the Portland Metro area is at 1.6 months, which is exactly the same when comparing last June 2016. From last month (May 2017) inventory is up .1 months. Further two years ago (ending June 2015) inventory remained the same at 1.6 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 38 days. Last year, at this time, the total days on market finished at 33 days. This reflects a 13.2% increase. (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 $412,800 which is a 10.5% increase (from $373,600) when comparing the rolling average sales price from last year.