Market Conditions Ending November 30, 2018

The Portland Metropolitan market conditions ending November 2018 shows the supply of real estate  inclined, the demand for housing decreased and the overall value of real estate is appreciating when comparing this year to last year (Nov 2017 vs Nov 2018). 

Specifically, the current inventory in the Portland Metro area is at 2.8 months, which is an increase by 0.9 months  when comparing last November 2017. From last month (October 2018) inventory is up .1 months. Further two years ago (ending Nov 2016) 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 57 days. Last year at this time the total days on market finished at 51 days. This reflects a 13.5% 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 $450,400 which is a 5.6% increase (from $426,500) when comparing the rolling average sales price from last year. 

The Portland Statistical Data comes out mid month for the prior month. Check back for new Market Conditions.