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.

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.

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!