Portland Real Estate Market Report- January 2018

The Portland Real Estate Market kick started the New Year and provided plenty of high points. Many people including real estate agents are anticipating and formulating their real estate market predictions for 2018. The real estate market in Portland and around the country always have their ups and downs. In the end the real estate numbers and market trend reports are the best indicator of what is happening in the real estate market. Let see what January 2018 numbers have in store for the start of 2018.

Closings of Residential listings in the Portland real estate market cooled in January 2018 by 11.9% from December 2017. And was down by 30.7% compared to January 2017.

Closings
Jan 18’- 1,628
Jan 17’ – 1,847
Dec 17’ – 2,350

 

The Portland Metro area pending residential listings showed the January 2018 beat out last months and last year. Pending sales were up 16.1% from January 2017 and 31.5% from December 2017. It ended up being one of the best January’s since 2007.

Pendings
Jan 18’- 2,311
Jan 17’ – 1,990
Dec 17’ – 1,757

There was 53.7% increase in January 2018 from December 2017 of new residential homes on the market in the Portland metro area. New listings also improved 12.4% up from January 2017.

New Listings
Jan 18’- 2,486
Jan 17’ – 2.212
Dec 17’ -1,617

January 2018 Portland Housing Market By the Numbers
Residential real estate market inventory jumped from 1.6 to 2.2 months of inventory.  The total days on the market also rose 5 days from December 2017 ending at 60 days. January ended with 3,518 active listing in the Portland metro area that are looking for buyers!

The numbers everyone wants to know, how high are home prices in the Portland Metro area?!
The Median Sale price ended in December at $379,900. January ended at $380,000. That is an increase of 8.6% from January 2017 median price of $350,000.
The average sale price in December ended at $428,700. At the end of January 2018 the average home price was $430,100 that is an increase of 7.6% from January 2017.

Where are the most Active Listings in Portland for January 2018?
Neighborhood Total of Active Listings Total Market time
North Portland                                                      141                           54 days
Northeast Portland                                              261                           55 days
Southeast Portland                                              380                           49 days
West Portland                                                        525                           63 days

Median Sales Prices for January 2018 for the Portland Metro are as listed below…
$593k- Lake Oswego/West Linn
$510k- West Portland
$420k- Tigard/Tualatin/Sherwood/Wilsonville
$409k – Milwaukie/Gladstone
$394k- NE Portland
$392k- North Portland
$375,9k- Oregon City/ Canby/ Molalla/ Beavercreek
$370k- Hillsboro / Forest Grove
$345k- Beaverton/Aloha
$336,8k- Gresham/Sandy/Troutdale/Fairview
$335,1k- SE Portland

Portland Metro Area Real Estate Market January 2018 Report Click Here
Vancouver & SW Washington Real Estate Market January 2018 Report Click Here

Real estate is always shifting and adjusting-
The  agents at Taylor Group Realty are aware of the market and are prepared for anything that could happen in the future. Contact us to get a FREE market analysis to see how much you can sell your home for in this market. Now is the time to List your house!

 

 

 

Portland Real Estate Market Report- December 2017

The month of December in the Portland Real Estate Market displayed some seasonal low numbers with a few high points. The last few months of 2017 have yet to beat out 2016 numbers overall in listing, pending, and closing. The Real Estate market in the Portland metro area maybe showing some slowing, however it is still early to tell if it is a seasonal low or an overall cooling of the real estate market.

Residential closings in the Portland Real Estate Market ended with December being 10.3% behind Dec 2016 numbers. The number of closed properties in the area were unable to beat November 2017 numbers, coming in short by 1.6%.

Closings
Dec 17’ – 2,350
Dec 16’ – 2, 621
Nov 17’- 2,387

The real estate report in the Portland metro area shows that pending sales for December 2017 matched the pendings in Dec 2016. However, they fell short of November numbers by 25.9%.

Pendings
Dec 17’ – 1,757
Dec 16’ – 1,757
Nov 17’- 2,371

New residential listings in the Portland real estate market beat out Dec 2016 numbers by 13.8%. December 2017 was unable to beat out last month’s new listings by 33.1%.

New Listings
Dec 17’ -1,617
Dec 16’ – 1,421
Nov 17’- 2,416

December 2017 Portland Housing Market By the Numbers
Total months of inventory in the residential housing market in Portland has been steadily going down, November was at 1.9 months and December 2017 ended at 1.6 months. The number of days a property is on the market has increased by 4 days from November, ending at 55 days.  Here are the numbers comparing the Portland Real Estate market from 2016 to 2017.
New listing: Down 0.8%
Pending: Down 5.7%
Closings: Down 3.6%

The prices of residential listings in the Portland Real Estate market, last month median sale price rose 9.5% from $347,000 to $379,900. The average sale price rose 8.5% from $395,000 to $428,700. The average sale price in Portland metro area in December ending at $428,700, that is $300 less than November.

Where are the most Active Listings in Portland for December 2017?
Neighborhood Total of Active Listings Total Market time
North Portland                                                170                       61 days
Northeast Portland                                        309                       43 days
Southeast Portland                                        435                       54 days
West Portland                                                 522                       68 days

Median Sales Prices for December 2017 for the Portland Metro are as listed below…
$597,5- Lake Oswego/West Linn
$499k- West Portland
$412k- Tigard/Tualatin/Sherwood/Wilsonville
$390,5k- North Portland
$385k – Milwaukie/Gladstone
$375k- Oregon City/ Canby/ Molalla/ Beavercreek
$379k- NE Portland
$352,5k- Hillsboro / Forest Grove
$354,5k- Beaverton/Aloha
$350k- SE Portland
$322k- Gresham/Sandy/Troutdale/Fairview

Portland Metro Area Real Estate Market December 2017 Report Click Here
Vancouver & SW Washington Real Estate Market December 2017 Report Click Here

Real estate is always shifting and adjusting-
The seasoned agents at Taylor Group Realty are aware of the market and are prepared for anything that could happen in the future. Contact us to get a FREE market analysis to see how much you can sell your home for in this market. Now is the time to List your house.

Portland Real Estate Market Report- November 2017

As the end of fall approaches, the November numbers in the Portland Real Estate market are making a strong case that 2017 might not beat out 2016 record high number for listings, pending and solds. We are also seeing that the average sale price went down from October to November and Median real estate sale price in Portland stayed the same.

Closing sales in the real estate market in the Portland area displayed that residential closings fell 1.9% of Nov 2016 number and 6.9% short of last month’s numbers

Closings
Nov 17’- 2,387
Nov 16’- 2,434
Oct 17’- 2,565

Pendings sales in the Portland Real Estate Market beat out Nov 2016 number by 4.6%. Compared to October 2017, the pending sales did fall short by 12.3%.

Pendings
Nov 17’- 2,371
Nov 16’- 2,266
Oct 17’-  2,705

November ended with gain of 16.2% in new listing compared to Nov 2016. However if you look at new listings in October 2017, November 2017 was down by 19.0%.

New Listings
Nov 17’- 2,416
Nov 16’- 2,080
Oct 17’- 2,981

November 2017 Portland Housing Market By the Numbers
Inventory in the residential market in November went from 2.1 month’s in October to 1.9 Months.  There was a huge jump on total days of listing on the market went from 37 Sept, 44 in Oct and ending at 51 days in November. The overall Portland real estate activity shows that in 2016 compared to 2017, things are down across the board.
New listing: Down 1.2%
Pending: Down 6.2%
Closings: Down 3.0%

The prices of residential listings in the Portland Real Estate market, last month median sale price ended in October at $379,900 in November it ended at the same with $379,900 that is a 9.5% increase from Nov 2016 $347,000. In October in average sales prices ended at $429,400. In November, the average home price went down compared to last month ending at $429,000. It was an 8.7% increase from November 2016 average sale price of $394,800

Where are the most Active Listings in Portland for November 2017?
Neighborhood Total of Active Listings Total Market time
North Portland                                                204                       44 days
Northeast Portland                                        345                       46 days
Southeast Portland                                        516                       39 days
West Portland                                                 611                       70 days

Median Sales Prices for November 2017 for the Portland Metro are as listed below…
$585,3K- Lake Oswego/West Linn
$489,5k- West Portland
$425,9k- Tigard/Tualatin/Sherwood/Wilsonville
$399,9k- NE Portland
$392,5k- North Portland
$387k – Milwaukie/Gladstone
$360k- SE Portland
$350k- Oregon City/ Canby/ Molalla/ Beavercreek
$350k- Hillsboro / Forest Grove
$344k- Beaverton/Aloha
$334,5k- Gresham/Sandy/Troutdale/Fairview

Portland Metro Area Real Estate Market November 2017 Report Click Here
Vancouver & SW Washington Real Estate Market November 2017 Report Click Here

Real estate is always shifting and adjusting-
The seasoned agents at Taylor Group Realty are aware of the market and are prepared for anything that could happen in the future. Contact us to get a FREE market analysis to see how much you can sell your home for in this market. Now is the time to List your house

Christmas Lights in Portland List!

Pioneer Courthouse Square

There are so many wonderful places to view Christmas Lights in Portland, Oregon. Here are a few of the Holiday Portland events you can enjoy! If you looking for more holiday events, Check out our Facebook Page where every day now until New Year’s we will be posting a local holiday event!

Happy Holidays
– Taylor Group Realty Team

 

The Grotto’s 30th Annual Christmas Festival of Lights
Now thru Dec 30th, Nightly 5pm – 9:30pm
Website

PIR Winter Wonderland
Now thru Dec 26th, Check for Hours
Website

Zoo Lights at the Oregon Zoo
Now thru Jan 7, Check for Hours and Days
Website

Christmas Ships on the Willamette & Columbia River
Check website for Dates and Times
Website

Peacock Lane
Now thru 31st
Website

The Miracle of a Million Lights in Portland
Now thru Dec 23rd
Website

Maddax Woods in West Linn
Now thru Dec 31st
Website

Christmas Fantasy Trail in Oregon City Wenzel Farms
Now thru Dec 30
Website

South of PDX-

Christmas in the Garden in Silverton at The Oregon Garden
Now thru Dec 31St
Website

Portland Real Estate Market Report- October 2017

The coolness of fall is in the air in the Portland Metro Area, and it seems the coolness has hit the Real Estate market in Portland. The numbers in October show the continuation of a cool down in the market that started to show around spring. It is too early to tell if this is a typical seasonal low or if the real estate market is starting to plateau in the Portland Metro Area.

Closings of residential listing in the Portland Real Estate Market fell short across the board. Numbers were 3.6% short of beating last month numbers and almost beat Oct 16 numbers, just fell 0.9% short.

Closings
Oct 17’- 2,565
Oct 16’- 2,589
Sept 17’ – 2,660

Pending faired the same as Closings in October 2017 with the Portland metro area closing were down 4.8% from October 2016 and was 0.9% lower than September numbers.

Pendings
Oct 17’-  2,705
Oct 16’- 2,841
Sept 17’ – 2,730

New Listings are up in the Portland metro area,  even though we see that October was down 18.2% from last month, however it was able to edge out October 2016 by 1.8%.

New Listings
Oct 17’- 2,981
Oct 16’- 2,929
Sept 17’ – 3,644

October 2017 Portland Housing Market By the Numbers

The Residential inventory in October end at 2.1 months of inventory, which is up from 2.0 month of inventory in September. The total days a listing is on the market went from 37 in September to 44 in October. The total active listing on the RMLS in the Portland real estate market is down from last month totals at 5,998 and ended as 5,415 active listing available to purchase in the Portland Real Estate market. We are continuing the trend of activity in the Portland real estate market being down this year from the hot market in 2016. These are the most current active numbers.
New listing: Down 2.1%
Pending: Down 7.1%
Closings: Down 3.0%

Prices of residential listings in the Portland Real estate market are at record highs with the median sale price rose 10.1% from $345,000 to $379,900. The Average sale price rose 9.0% from $393,900 to $429,400.

 

Where are the most Active Listings in Portland for October 2017?
Neighborhood Total of Active Listings Total Market time
North Portland                                                224                       40 days
Northeast Portland                                        448                       38 days
Southeast Portland                                        589                       37 days
West Portland                                                 719                       59 days

 

Median Sales Prices for October 2017 for the Portland Metro are as listed below…
$561,3K- Lake Oswego/West Linn
$495k- West Portland
$411.8k- Tigard/Tualatin/Sherwood/Wilsonville
$405k- North Portland
$400k- NE Portland
$385k- Milwaukie/Gladstone
$375k- Oregon City/ Canby/ Molalla/ Beavercreek
$355k- Hillsboro / Forest Grove
$350k- Beaverton/Aloha
$349,6k- SE Portland
$325k- Gresham/Sandy/Troutdale/Fairview

Portland Metro Area Real Estate Market October 2017 Report Click Here
Vancouver & SW Washington Real Estate Market October 2017 Report Click Here

Real estate is always shifting and adjusting-
The seasoned agents at Taylor Group Realty are aware of the market and are prepared for anything that could happen in the future. Contact us to get a FREE market analysis to see how much you can sell your home for in this market. Now is the time to List your house

Portland Real Estate Market Report- September 2017

The leaves are falling and just like that it’s fall in the Portland Metro Area. Typically the real estate market stays busy this time of year and then starts to slow down around the holidays. However based on the September real estate market numbers, this year it looks like the cooling has already started. Real Estate Market numbers across the board have been down this year compared to 2016. Has the Portland real estate market hit its peak? Only time will tell, however if these numbers continue into 2018 it could be a sign that booming real estate market is starting to loose traction.

The number of residential closings in the Portland metro area for September 2017 was not able to beat 2016 numbers, ending down 5.8%. The numbers of closings were down 12.3% from last month’s closing numbers.

Closings
September 17’ – 2,660
September 16’- 2,823
August 17’- 3,034

In the Portland Metro Real Estate Market pending sales were down 11.1% from last month and decreased from September 2016 by 4.4%.

Pendings
September 17’ – 2,730
September 16’- 2,857
August 17’- 3,072

Cooler activity is present in New Listings in the Portland Metro Area. Residential listings that came on the market in September were 10% less than last month. It also missed the market at new listings offered last year by 0.8%.

New Listings
September 17’ – 3,644
September 16’- 3,673
August 17’- 4,048

September 2017 Portland Housing Market By the Numbers
Residential inventory in the Portland real estate market increased from 2.0 months of inventory last month to 2.3 months in September. Total days on the market for a home in September rose 3 days from August ending at 37 days. In addition the number of listing on the real estate market in the Portland metro area ending at 5,998 that is slightly up from August that ended at 5,940. As talked about in our last blog post, Activity in the Portland real estate market is down across the board from last year, the latest numbers are as followed.

New listing: Down 2.5%
Pending: Down 7.2%
Closings: Down 3.2%

Even though we are seeing slowing in the Portland Metro area residential listings numbers. Prices are not seeing any signs of slowing from September 2016 to 2017. The median sale price rose 10.1% from $345,000 to $379,900. The Average sale price rose 9.2% from $392,600 to $428,800. However, it should be noted that the average sale price last month (August 2017) was $429,000, which is a decrease of the average home price of $200 from this month to last month.

Where are the most Active Listings in Portland for September 2017?
Neighborhood Total of Active Listings Total Market time:
North Portland                                                       238                           36 days
Northeast Portland                                              454                           34 days
Southeast Portland                                              630                           36 days
West Portland                                                        778                           46 days

Median Sales Prices for September 2017 for the Portland Metro are as listed below…
$568,8K- Lake Oswego/West Linn
$489k- West Portland
$405k- Tigard/Tualatin/Sherwood/Wilsonville
$403,5k- NE Portland
$399,8k- Oregon City/ Canby/ Molalla/ Beavercreek
$380k- Milwaukie/Gladstone
$369,9k- Hillsboro / Forest Grove
$366k- North Portland
$350k- Beaverton/Aloha
$346,5k- SE Portland
$325k- Gresham/Sandy/Troutdale/Fairview

Portland Metro Area Real Estate Market September 2017 Report Click Here
Vancouver & SW Washington Real Estate Market September 2017 Report Click Here

Real estate is always shifting and adjusting- The seasoned agents at Taylor Group Realty are aware of the market and are prepared for anything that could happen in the future. Contact us to get a FREE market analysis to see how much you can sell your home for in this market. Now is the time to List your house

Portland Real Estate Market Report- August 2017


Photo by Zach Savinar on Unsplash

Summer ended in the Portland Real Estate market with the same mix activity that kicked off the summer real estate season. There were some positive notes; however it has become apparent that 2017 summer numbers in the real estate market will not beat 2016 numbers in area of Closing, Pending and New Listing. The one area that continues to beat out 2016 real estate numbers in the Portland Metro area is prices, they continue to show a climb upwards.

In the Portland real estate market the number of closed residential listings increased by 1.1% from last year 2016. It also jumped 8.6% from the previous month.

Closings
August 17′ – 3,034
August 16’ – 3,001
July 17’ – 2,793

Residential homes in the Portland area that became pending in August barely beat out July numbers by 1.1%. However it fell short of beating out August of 2016 by 7.6%.

Pendings
August 17’- 3,072
August 16’- 3,325
July 17’ – 3,040

Residential Listings in the Portland metro real estate market that went on the market in August was under July 2017 and August of 2016 numbers both by 3.7%.

New Listings
August 17’- 4,048
August 16’- 4,203
July 17’ – 4,202

August 2017 Portland Housing Market By the Numbers-
In the Portland housing market inventory decreased from 2.1 months on the market in July to 2.0 months on August. Average days on the market increased to 34 days in August from 33 days in July 2017. As of the end of August 2017 there were over 5,940 active residential listings in the Portland Metro area. As with last month the activity in 2017 has shown cooling form the hot real estate market we saw last year. Thus far in 2017 in the Real Estate market in the Portland Metro area-
New listing: Down 2.6%
Pending: Down 7.6%
Closings: Down 2.7%

Prices however are showing no downturn thus far, from August 2016 to 2017 the average sales price rose 9.3% from $392,600 for a home in the area to $429,000. Median sales price rose 10.7% from $343,200 to $379,900.

Where are the most Active Listings in Portland for August 2017?
Neighborhood Total of Active Listings Total Market time

North Portland                                                      248                         25 days
Northeast Portland                                              477                          27 days
Southeast Portland                                              612                           31 days
West Portland                                                       766                          45 days

Median Sales Prices for August 2017 for the Portland Metro are as listed below…
$612K- Lake Oswego/West Linn
$482,5k- West Portland
$415k- Tigard/Tualatin/Sherwood/Wilsonville
$410k- North Portland
$409k- NE Portland
$390k- Milwaukie/Gladstone
$380k- Oregon City/ Canby/ Molalla/ Beavercreek
$355k- Hillsboro / Forest Grove
$354k- Beaverton/Aloha
$349,9k- SE Portland
$321k- Gresham/Sandy/Troutdale/Fairview

Portland Metro Area Real Estate Market August 2017 Report Click Here
Vancouver & SW Washington Real Estate Market August 2017 Report Click Here

Real estate is always shifting and adjusting- The seasoned agents at Taylor Group Realty are aware of the market and are prepared for anything that could happen in the future.
Contact us to get a FREE market analysis to see how much you can sell your home for in this market. Now is the time to List your house

Portland Real Estate Market Report- July 2017

The Portland Real Estate numbers for July have been released. It is becoming a fairly good bet that in 2017 overall in the Portland Real Estate Market will not surpass 2016 hot real estate numbers. This could be a sign that the Real Estate Market in the Portland Metro area is seeing a cooling from last summer hot market and/or the market is starting to plateau. The rest of the year numbers will be a good indicator of what is ahead for the real estate market in the Portland area for 2018 and where the shift in the market is happening.

Closing residential sales in the Portland Metro real estate market for July turned down slightly 12.4% from last month. And barely beat July 2016 numbers by 0.6%.

Closings
July 17’ – 2,793
July 16’- 2,776
June 17’- 3,187

Residential homes in the real estate market had less pending in July 2017, falling short 7.9% of July 2016 numbers and 6.6% short from last month.

Pendings
July 17’ – 3,040
July 16’- 3,302
June 17’- 3,254

In the Portland real estate market new listing showed a downturn from July 2016 by 3.9% and an 11.3% loss from June 2017.

New Listings
July 17’ – 4,202
July 16’- 4,372
June 17’- 4,739

July 2017 Portland Housing Market By the Numbers

Even with the down numbers in the overall market in the Portland Metro area, days on the market of a residential listing went down to 33 days from 38. Months of inventory did jump from 1.6 in June to 2.1 months of inventory ending in July. The last time the real estate market was around 2 months of inventory was last year in September/October of 2016. Thus far in 2017;

New listing: Down 2.4%
Pending: Down 7.6%
Closings: Down 3.3%

Even with the overall down stats for 2017 thus far, prices continue to rise. From July 2016 to July 2017 the average sale price in the Portland Metro real estate market rose 9.3%, in terms of prices they went from $391,600 in July 2016 to $428,000 in July 2017. That is also $1,000 price increase from last month that ended at $427,000 for the average sale price for Real Estate in the Portland Metro area. The median sale price rose 11.2% from $340,000 to $378,000.

Where are the most Active Listings in Portland for July 2017?
Neighborhood Total of Active Listings Total Market time
North Portland                                         245                    43 days
Northeast Portland                                 458                     28 days
Southeast Portland                                 572                     26 days
West Portland                                          787                    40 days

Median Sales Prices for July 2017 for the Portland Metro are as listed below…
$622,5k- Lake Oswego/West Linn
$515k- West Portland
$430k- NE Portland
$415k- Tigard/Tualatin/Sherwood/Wilsonville
$395k- Oregon City/ Canby/ Molalla/ Beavercreek
$389,9k- Milwaukie/Gladstone
$375k- North Portland
$360k- SE Portland
$359,3k- Beaverton/Aloha
$353k- Hillsboro / Forest Grove
$315k- Gresham/Sandy/Troutdale/Fairview

Portland Metro Area Real Estate Market July 2017 Report Click Here
Vancouver & SW Washington Real Estate Market July 2017 Report Click Here

Real estate is always shifting and adjusting-
The seasoned agents at Taylor Group Realty are aware of the market and are prepared for anything that could happen in the future. Contact us to get a FREE market analysis to see how much you can sell your home for in this market. Now is the time to List your house.

Portland Real Estate Market Report- June 2017

Portland Real Estate Market Report- June 2017

The end of spring has arrived in the Portland Metro Area and the real estate market is showing a slight improvement. If you have been following the Taylor Group Realty’s past blog post you know that the Portland real estate market has been a tad slower this year and has been unable to beat many of the records that were set in 2016. Many agents in the Portland Metro area will tell you that typically the real estate market in this area heats up in June and last until about mid- October. The numbers in June reflect that the summer heat up June under way, however indicators are pointing out that the summer of 2017 will not be as hot and sizzling as 2016.

The Portland real estate market closings shined in June 2017. Closings were up 10.0% better than May and is 0.9% higher than June 2016!

Closings
June 17’- 3,187
June 16’- 3,158
May 17’ – 2,896

Pending sales of residential homes in the Portland metro area ended at 3,254 pending listings and was unable to beat June 2016 numbers by 4.0%. In addition it feel short by 5.3% to May 2017.

Pendings
June 17’- 3,254
June 16’- 3,390
May 17’ – 3,435

In new Listings June was the strongest since 2008 when the Portland Metro area offered 5,213 listings. It beat out the high number of 2016 by 5.3% and compared to May it was up 8.0%.

New Listings
June 17’- 4,739
June 16’- 4,501
May 17’ – 4,388

June 2017 Portland Housing Market By the Numbers

The number of days on the market for a residential listing is ended at 38 days that is down one day from May’s number of 39. Months of inventory in the Portland real estate market up 0.1. Currently Portland has 1.6 months of inventory on hand, that up from June 2016 1.5 months and even to June 2015 at 1.6 months. As we mentioned last month, it appears that 2017 has been cooler than the sizzling real estate market of 2016, however numbers are still some of the highest since before the real estate market crash.

Listings: Down 1.8%
Pendings: Down 7.2%
Closed: Down 3.9%

A surprise to local Portland real estate agents is that even though the market is cooler than 2016, prices continue to climb! In May home prices ended at $423,800 and June rose 9.0% from June 2016 ending at $427,000.  The median sales price finished in May 2017 at $370,000. This month it rose 10.3% from June 2016 ending at $375,000.

Where are the most Active Listings in Portland for June 2017?

Neighborhood                                     Total of Active Listings                 Total Market time

North Portland                                                196                                              21 days
Northeast Portland                                        419                                               29 days
Southeast Portland                                        511                                                26 days
West Portland                                                 706                                               39 days

Median Sales Prices for June 2017 for the Portland Metro are as listed below…

$581,3k- Lake Oswego/West Linn
$486,3k- West Portland
$425k- Tigard/Tualatin/Sherwood/Wilsonville
$415,5k  NE Portland
$415k- Milwaukie/Gladstone
$391k- North Portland
$385k- Oregon City/ Canby/ Molalla/ Beavercreek
$360k- SE Portland
$353k- Hillsboro / Forest Grove
$350k- Beaverton/Aloha
$322k- Gresham/Sandy/Troutdale/Fairview

Portland Metro Area Real Estate Market June 2017  Report Click Here

Vancouver & SW Washington Real Estate Market June 2017  Report Click Here

It is still a Seller’s Market! If you are thinking about Selling your home Now might be the best time, Contact us to get a FREE market analysis to see how much you can sell your home for in this market. Now is the time to List your house.

 

Portland Real Estate Market Report- May 2017

The end of spring has arrived in the Portland Metro Area and the real estate market is showing a slight improvement. If you have been following the Taylor Group Realty’s past blog post you know that the Portland real estate market has been a tad slower this year and has been unable to beat many of the records that were set in 2016. Many agents in the Portland Metro area will tell you that typically the real estate market in this area heats up in May and last until about mid- October. The numbers in May reflect that the summer heat up maybe under way, however indicators are pointing out that the summer of 2017 will not be as hot and sizzling as 2016.

In May 2017, the number of residential listing that have closed in the month ending at 2,896 tied May 2016 numbers. The number of closings also beat out April 2017 closings by 30.5%.

Closings
May 17’- 2,896
May 16’- 2,896
April 17’ – 2,219

Pending sales in the real estate market in Portland for May rose above April’s number by 11.2% however it did not beat pending sales from May 2016, down by 3.6%.

Pendings
May 17’- 3,435
May 16’- 3,563
April 17’ – 3,088

New residential listing that hit the Portland real estate market in May were strong with over 4,388! That beat May 2016 5.9% and also beat out last month’s number by 16.7%. It was the strongest offering of new listings since May 2008 with 5,128

New Listings
May 17’- 4,388
May 16’- 4,144
April 17’ – 3,759

 

May 2017 Portland Housing Market By the Numbers 

In the Portland real estate market, the days a residential listing is on the market ended at 39 days, that is down 3 days from April’s 42. May also showed a decrease of Months of inventory from April 1.7 to May 1.5 months of inventory. As mentioned above the overall real estate activity in the Portland metro area is down from 2016, here are the current numbers.
Listings: 3.4%
Pendings: 7.8%
Closed: 5.4%

Although overall Listings, Pending and Closing are down from 2016. Housing prices in the Portland Metro are continuing to climb. May 2016 to May 2017 residential home prices increased 10.7% to $423,800 from $383,000. The median sale price is also up 10.7%  finishing the month at $370,000.

Where are the most Active Listings in Portland for May 2017?

Neighborhood                                     Total of Active Listings                 Total Market time
North Portland                                                164                                              28 days
Northeast Portland                                        303                                              27 days
Southeast Portland                                        431                                                   28 days
West Portland                                                 606                                              44 days

 

Median Sales Prices for May 2017 for the Portland Metro are as listed below…
$548k- Lake Oswego/West Linn
$527k- West Portland
$426,8k  NE Portland
$425k- Tigard/Tualatin/Sherwood/Wilsonville
$403k- North Portland
$384k- Milwaukie/Gladstone
$355k- SE Portland
$351,8k- Beaverton/Aloha
$349,9k- Oregon City/ Canby/ Molalla/ Beavercreek
$345k- Hillsboro / Forest Grove
$312,5k- Gresham/Sandy/Troutdale/Fairview

Portland Metro Area Real Estate Market May 2017 Report Click Here
Vancouver & SW Washington Real Estate Market May  2017 Report Click Here

 It is still a Sellers’ Market! If you are thinking about Selling your home Now might be the best time, Contact us to get a FREE market analysis to see how much you can sell your home for in this market. Now is the time to List your house.