Market Conditions Ending February 28, 2019

The Portland Metropolitan market conditions ending February 2019 shows the supply of real estate went down, the demand for housing increased and the overall value of real estate is appreciating when comparing this year to last year (Feb 2019 vs Feb 2018).

Specifically, the current inventory in the Portland Metro area is at 2.7 months, which is a .8 increase when comparing last Febuary 2018. From last month (January 2019) inventory is down .6 months. Further two years ago (ending Feb 2017) inventory was lower by .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 75 days. Last year at this time the total days on market finished at 69 days. This reflects a 9.4% 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 $452,100 which is a 4.6% increase (from $432,200) when comparing the rolling average sales price from last year.