Portland Metro: April Real Estate Market Report

April Residential Highlights
The Portland metro area saw some mixed real estate activity this April, while the year to date still remains cooler compared to 2016. New listings, at 3,759, fared 4.3% better than last month in March 2017 (3,604), but fell 7.9% short of the 4,082 new listings offered last year in April 2016.

Similarly, pending sales (3,088) were 10.0% cooler than in April 2016 (3,432) but showed a modest
1.5% gain over last month in March 2017 (3,043).

Closed sales, at 2,219, fell 11.0% short compared to last month’s 2,494 closings and 15% short compared to
the 2,611 closings recorded last year in April 2016.

Inventory crawled upward in April, ending at 1.7 months. Total market time decreased by four days, ending at 42 days. There were 3,753 active residential listings in the Portland metro area in April.

Average and Median Sale Prices
Comparing the average price of homes sold in the twelve months ending April 30th of this year ($406,500) with the average price of homes in the twelve months ending April 2016 ($365,200) shows an increase of 11.3%. In the same comparison, the median has increased 11.6% from $318,500 to $355,500.