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Portland Metro Area Real Estate Market Trends Update – June 2018

Our local multiple listing service (RMLS) released their real estate Market statistics for May covering the Portland metro area. Based on the latest data the market presently continues to be a sellers market overall with inventory at 1.9 months in May which is up from the 1.5 months worth recorded last May 2017. The inventory level went up just tick from the prior month of April.

Comparing market activity to a year ago, pending & closed sales were down 7% and 3% respectively while active listings was up 24%. The median sale price of $409,000 in May was up 5.4% from the year prior and remains a record high for the Portland area.

Within the tri-county area (Clackamas, Multnomah & Washington) home inventory is currently lowest in Beaverton/Aloha (Area 150) at only 1.2 months and highest in Lake Oswego/West Linn (Area 147) at 2.4 months. The lowest median sale price is currently in Gresham/Troutdale (Area 144) at $335,000 and the highest is $605,000 in Lake Oswego/West Linn (Area 147).

Average days on market, the period of time from when a property goes on the market to when it goes sale pending, decreased to 37 days in May which is 2 days less than was recorded a year ago.

Click here to download a PDF document with a detailed graphical breakdown of the numbers for all MLS areas in the Portland metro area.

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This post first appeared on Portland Oregon Real Estate And Homes | Executive, please read the originial post: here

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Portland Metro Area Real Estate Market Trends Update – June 2018

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