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