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.

Portland Real Estate Market Report- April 2017

The Portland Spring Real Estate Market continues the 2017 trend, of being unable to top the sizzling market of 2016! The overall numbers for April 2017 seamed cooler than previous months, however the Portland residential home prices continue its never-ending climb to a $406,500.

Closing sales in April fell 11.0% from last month’s totals and came 15% short compared to April 2016 numbers.

Closings
April 17’ – 2,219
April 16’– 2,611
March 17’ – 2,494

Pending sales in the residential real estate market in Portland were up 1.5% over March. It failed to beat out April 2016 by 10%.

Pendings
April 17’ –  3,088
April 16’– 3,432
March 17’ – 3,043

New Listing showed at 4.3% gain from March 2017, however was unable to beat out April 2016 and fell 7.9%.

New Listings
April 17’ – 3,759
April 16’– 4,082
March 17’ – 3,604

 

April 2017 Portland Housing Market By the Numbers

In the Real Estate Market in Portland total days on the market decreased by 16, going from March’s 58 days on the market to 42 days on the market for April 2017. Residential inventory displayed a change from 1.3 months to 1.7 month of inventory in the Portland Metro Area. Compared to last month active residential listings went from 3,313 to 3,753. Home prices continue the record setting climb that started in 2015. The average home price in the Portland metro area in the last 12 months ended at $406,500. The average home price in the Portland metro area in April 2017 finished at $365,200 an increase of 11.3%. The median sale price went from $318,500 to $355,500 in the Portland Metro area real estate market that  a 11.6% increase.

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

Neighborhood                                     Total of Active Listings                 Total Market time
North Portland                                                138                                              28 days
Northeast Portland                                        277                                              33 days
Southeast Portland                                        348                                              34 days
West Portland                                                 488                                              50 days

 

Median Sales Prices for April 2017 for the Portland Metro are as listed below…
$550k- Lake Oswego/West Linn
$466,5k- West Portland
$428,5k- Tigard/Tualatin/Sherwood/Wilsonville
$408k  NE Portland
$394k- Milwaukie/Gladstone
$392k- North Portland
$386k- Oregon City/ Canby/ Molalla/ Beavercreek
$364,6k- SE Portland
$360k- Beaverton/Aloha
$355k- Hillsboro / Forest Grove
$304,9k- Gresham/Sandy/Troutdale/Fairview

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

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

Thinking about Buying a home in the Portland Metro area? Search now to find your Home.

Portland Real Estate Market Report- March 2017

Spring in the Portland Real Estate Market is underway and March proved to be in like a lion. Roaring in with over 4,988 new residential listings, proving itself as the strongest March since 2010! The Portland condo market showed some strength in March with closing out pacing active listings and the median sale price jumped from a little under $250,000 in February to near $300,000 in March!  Overall March beat out February numbers, which signals that the spring real estate market in Portland is underway.

Closing sales in the Portland real estate market was 49.4% higher than February (1,669) ending with a final number of 2,494 closed sales. 2017 is still having a hard time beating the hot Portland real estate market of 2016, falling short in closing by 1.1%.

Closings
March 17’ – 2,494
March 16’– 2,565
Feb 16’ – 1,669

Pending sales had a 28.5% increase over February 2017 ending with 3,043.  Similar to closing sales, March of 2017 came up short in beating out March 2016 by 1.1%.

 Pendings
March 17’ – 3,043
March 16’–3,076
Feb 17’ – 2,369

New listings beat out March 2016 by 5.7%, with 3,604 new residential listings in the Portland Metro area. February was beat out by March 2017 by 43.0%. This is good news for buyers who have been experiencing a difficult time in the real estate market.

New Listings
March 17’ – 3,604
March 16’– 3,409
Feb 17’ – 2,521

 

March  2017 Portland Housing Market By the Numbers

Total days on the market decreased in March by four days from, 62 days ending at 58 days on the market for a home in the Portland Real Estate Market. A decreased happened in the months of inventory from 1.9 in February to 1.3 month of inventory in March 2017, which stayed on track with months of inventory of residential properties for March 2016.  In active residential listing in the Portland Metro area, ending with 3,313, that was higher than February 2017, 3,109.

A place where 2017 is beating out 2016 in the Portland Real Estate market is in housing prices. The average price of a home that has sold in the last 12 months increased by 12.0%  ending at $404,300 and March 2016 ended with $361,000. Median sale price had an increase from $315000 to $353,500 and increase of 12.2%.

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

Neighborhood                                     Total of Active Listings                 Total Market time

North Portland                                                115                                              47 days
Northeast Portland                                        249                                              50 days
Southeast Portland                                        291                                              40 days
West Portland                                                 419                                              52 days

 Median Sales Prices for March 2017 for the Portland Metro are as listed below…
$560k- West Portland
$533k- Lake Oswego/West Linn
$405k- Tigard/Tualatin/Sherwood/Wilsonville
$402.5k- North Portland
$391,5k  NE Portland
$355,5k- Oregon City/ Canby/ Molalla/ Beavercreek
$339,5k- SE Portland
$333,1k- Hillsboro / Forest Grove
$326k- Beaverton/Aloha
$303k- Gresham/Sandy/Troutdale/Fairview
$266,5k- Milwaukie/Gladstone

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

 

Thinking about Buying a home in the Portland Metro area? Search now to find your Home.

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

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