Inventory in the Portland metro area decreased slightly to 1.6 months in March, with total market time decreasing to 55 days. There were 3,844 active residential listings in the metro area in March.
Closings had a strong month this February in the Portland metro area. There were 1,806 closed sales, a 8.2% increase over February 2017 (1,669) and a 10.9% increase over January 2018 (1,628).
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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.
Closed sales, at 2,350, ended with a 10.3% decrease from December 2016 (2,621) and fell 1.6% short of the 2,387 closings recorded last month in November 2017 as well.