Market Conditions Ending January 31, 2019

The Portland Metropolitan market conditions ending January 2019 shows the supply of real estate  inclined  the demand for housing decreased and the overall value of real estate is depreciating when comparing this year to last year (Jan 2019 vs Jan 2018). 

Specifically, the current inventory in the Portland Metro area is at 3.3 months, which is an increase by 1.1 months when comparing last January 2018. From last month (December 2018) inventory is up .8 months. Further two years ago (ending Jan 2017) inventory was lower at 1.7 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 76 days. Last year at this time the total days on market finished at 60 days. This reflects a 26.2% 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 $452,200 which is a 5.2% increase (from $430,000) when comparing the rolling average sales price from last year.