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

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%.

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