January 2018 Update:
Pendings Jump. Closed Slump.
New listings, at 2,486, outpaced January 2017 (2,212) by 12.4% and December 2017 (1,617) by 53.7%.
The Portland metro area saw plenty of pending sales and new listings this January. Pending sales, at 2,311, outpaced January 2017 (1,990) by 16.1% and December 2017
(1,757) by 31.5%. It was the strongest January for pending listings in the metro area since 2007, when 2,544 offers were accepted in January.
Closed sales, at 1,628, cooled 11.9% from the 1,847 closings recorded last year in January 2017 and 30.7% from the 2,350 closings recorded last month in December 2017.
⬆︎ 2.2 Mos
Time On Market and Inventory
Inventory rose a bit in January, ending at 2.2 months. During the same period, total market time increased by five days to end at 60 days. There were 3,518 active residential listings in the Portland metro area in January.
Comparing the average price of homes sold in the twelve months ending January 31st of this year ($430,100) with the average price of homes in the twelve months ending January 2017 ($399,600) shows an increase of 7.6%. In the same comparison, the median has increased 8.6% from $350,000 to $380,000.
Buying? Selling? Let Us Help!
With over a decade of experience, countless successful transactions under our belt, and the testimonials to prove we do things right, it would be our pleasure to help you buy or sell your next home. Please feel free to call me on my cell at 503-730-0702 or use the form below.