December Residential Highlights December brought cooling across the board to the Portland metro area. Pending sales, at 1,599, fell 9.0% short of the 1,757 offers accepted last year in December 2017 and 16.0% short of the 1,904 offers accepted last month in November 2018. Closed sales (1,846) fared similarly, ending 21.4% lower than in December 2017 (2,350) and 13.9% lower than in November 2018 (2,144). This is the coolest December for closings in Portland metro since 2013, when 1,821 were recorded. New listings, at 1,255, cooled 22.4% from December 2017 (1,617) and 45.7% from November 2018 (2,310). Total market time rose to 64 days in December, with inventory decreasing slightly to land at 2.5 months.
Average and Median Sale Prices Comparing 2018 to 2017 through December, the average sale price rose 5.5% from $428,700 to $452,400. In the same comparison, the median sale price rose 5.3% from $379,900 to $400,000.
Year to Date Summary
Activity in 2018 was mixed compared to 2017. New listings (41,287) increased 1.2%. ending sales (29,809) decreased 4.9% and closed sales (29,771) decreased 5.9% this year.
The Portland-Metro real estate market is still a strong market but seeing some signs of slowing. In my opinion, it’s more of a balancing out. 2019 is expected to be a dynamic market and providing plenty of opportunities for both Seller’s and Buyer’s. For more information taking advantage of the opportunities please call, email, or text me.
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Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, Diversity Specialist-HOWNW, Earth Advantage Broker, MASTERS CIRCLE, CSA-Certified Staging Agent, Oregon First, Washington First
Direct 503.380.9634, Email- email@example.com
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