Market Conditions Ending October 31, 2017

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

Specifically, the current inventory in the Portland Metro area is at 2.1 months, which is an increase by 0.1 months when comparing last Oct 2016. From last month (Sept 2017) inventory down to -.2 months. Further two years ago (ending Oct 2015) inventory was lower 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 44 days. Last year at this time the total days on market finished at 41 days. This reflects 8% 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 $424,100 which is a 8.6% increase (from $390,500) when comparing the rolling average sales price from last year.