The city of Portland real estate market finished January with 732 closed sales, which is down from the 973 & 1,019 closed sales recorded in the prior months of November and December respectively. Of the 732 closed sales in January, 28 were distressed properties (foreclosures/short sales) representing 4% of the closed sales for the month. As of the end of January, distressed properties accounted for 7% of the active listing inventory. There were 202 closed sales of homes valued over $500K during January and a total of 772 sales over the three month period of November – January.

The inventory level is lowest in the up to $250K price bracket at only 0.9 months and overall it is at 1.5 months worth across all price brackets based solely on the January Closed Sales Rate. Looking back over the last three months average closed sales rate, the inventory level declines to 1.2 months worth across all price brackets.

The average sold price in January was $442K which is down $7K from the prior month. Meanwhile, the median sold price was $382K in January which is down $3K from December. The average price of the active listings was $640K as of the end of January while the median price for the active listings was $515K during the same period.

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New real estate listings in Portland (past 24 hours):

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