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%.

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%.

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.