Monthly Local Market Report

How’s The Market?

Below is an excerpt from the Regional Multiple Listing Service’s most recent “Market Action” report that comes out monthly and is e-mailed to all member Realtors. This is data specific to the Portland Metro Area market.

November Residential Highlights

New listings, at 2,118, decreased 8.3% from November 2018 (2,310) and fell 30.9% from October 2019 (3,064).

Pending sales (2,274) increased by 19.4% over the 1,904 offers accepted in November 2018 and fell 11.7% short of the 2,575 offers accepted last month in October 2019.

Closed sales (2,191) rose 2.2% from the 2,144 closings recorded last year in November 2018 and decreased 15.3% compared with the 2,588 closings recorded last month in October 2019.

Average and Median Sale Prices

Comparing 2019 to 2018 through November, the average sale price has increased 1.4% from $453,100 to $459,300. In the same comparison, the median sale price has increased by 2.5% from $400,000 to $410,000.

Below is a table with data from the RMLS for specific areas. Note that Appreciation is based on a comparison of the rolling average sale price for the last 12 months with the 12 months prior. Days on Market is the number of days from when a property is listed to when an offer is accepted on that same property. If a property is re-listed within 31 days, DOM continues to accrue; however, it does not include the time that it was off the market:

AreaDays on MarketMedian Sales PriceAppreciation
N Portland59$409,0000.1%
NE Portland40$425,0002.2%
SE Portland54$376,000
Oregon City/Canby70$411,0004.2%
Lake Oswego/West Linn101$590,0001.4%
W Portland86$525,000-2.6%
NW Washington County55$515,000-1.8%
Tigard/Wilsonville51 $440,0001.0%
Hillsboro/Forest Grove48$385,0004.5%
Mt. Hood97$315,5001.3%
Columbia Co.65$310,0005.5%
Yamhill Co.62$347,9003.4%

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