November Residential Highlights
Portland saw some cooler activity this November. New listings, at 2,310, fell 4.4% short of the 2,416 new listings offered last year in November 2017 and 25.5% short of the 3,100 new listings offered last month in October 2018.
Closed sales (2,144) fared similarly, cooling 10.2% from November 2017 (2,387) and 12.1% from October 2018 (2,440).
Pending sales (1,904) ended 19.7% under the 2,371 offers accepted last year in November 2017 and 23.3% under the 2,484 offers accepted last month in October 2018. The last November with fewer pending listings was in 2013, when 1,827 offers were accepted.
Total market time rose to 57 days in November, with inventory increasing slightly to 2.8 months.
Average and Median Sale Prices
Comparing 2018 to 2017 through November of each year, the average sale price rose 5.6% from $429,000 to $453,100. In the same comparison, the median sale price rose 5.3% from $379,900 to $400,000.
Year to Date Summary
Activity so far in 2018 is mixed compared to 2017. New listings (39,974) are up 2.2%. Pending sales (28,290) and closed sales (27,786) are down 4.5% for the year so far.
Each City and neighborhood is different. For more information on your particular location please call,e mail, or text anytime.
Five Star award Winner 2011-2019 honoring the top 7% of real estate professionals in Oregon.
IT’S A GOOD LIFE!!
Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, MASTERS CIRCLE, Earth Advantage Broker, Diversity Specialist-HOWNW, CSA-Certified Staging Agent, Oregon First, Washington First
Direct 503.380.9634, Email- rachel@rachelsheller.com
View ALL available Houses on the market on my website.
Licensed in the State of Oregon and Washington
My business is referral based. If you’ve enjoyed my service, please refer me!