The NE Portland real estate market finished March with 207 closed sales, which is up from the 189 & 154 closed sales recorded during the prior months of January and February respectively. Of the 207 closed sales in March, 3 were distressed properties (foreclosures/short sales) representing 1% of the closed sales for the month.  As of the end of March, distressed properties accounted for 6% of the active listing inventory. There were 62 closed sales of homes valued at $500K or more during March and a total of 153 over the three month period of January – March.

The inventory level is lowest in the $251-500K price bracket at only 0.9 months and overall it is at 1.2 months worth across all price brackets based solely on the March Closed Sales Rate. Looking back over the last three months average closed sales rate, the inventory picture increases slightly to 1.4 months worth across all price brackets.

The average sold price in March was $442K which is up $16K from the prior month of February. The median sold price in March increased to $392K, up $6K from the month prior. The average price of the active listings was $562K as of the end of March while the median price for the active listings was $492K during the same period.

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New real estate listings in NE Portland (last 7 days):

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