Portland Metro Real Estate Activity Cools from August but Grows Leaps Over Last Year

This September showed a significant increase over last September, while dipping slightly below the previous month. Closed sales jumped a huge 26.6% over September 2014, making it the best September for closings since 2005. Growth over 2014 was seen entirely across the board, with just a hint of slowing down for the year, a natural occurrence for the fall season.


Here are some of the highlights from the latest report:

The number of new listings this month was 3,424, 10.4% more than the previous year and 11.8% down from August.

We saw 2,971 pending sales, which was a 11.2% less than the previous month, but 16.5% increase over the previous year. As noted above, 3,010 homes closed in August, a 26.6% increase over September and down 2.8% from the previous month.

The total market time increased to 46 days and inventory was a low 1.9 months.

Some key points are:

Pending sales grew 16.5% over last year from 2,551 to 2,971, but fell 11.2% from the 3,347 pending sales in August.

There are currently 5,657 active residential listings available in the Portland Metro area.

Average sales price dipped 4.3% from the previous month and the median sales price by 3.7%, but both grew (3.2%, 5.1%) over last September.

Read the full report here

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