Our local multiple listing service (RMLS) released their real estate Market statistics for July covering the Portland metro area. Based on the latest data the market continues to be a sellers market overall with inventory at 2.3 months in July which is down just slightly from the 2.4 months worth recorded last July 2018. The inventory level decreased slightly from the prior month of June.

Comparing market activity to a year ago, pending sales were down 2% while closed sale were up 8%. Active listings were up just 4%. The median sale price of $411,600 in July was up 2.5% from the year prior.

Within the tri-county area (Clackamas, Multnomah & Washington) home inventory is currently lowest in Beaverton/Aloha (Area 150) at 1.7 months and highest in West Portland (Area 148) at 3.8 months. The lowest median sale price is currently in Gresham/Troutdale (Area 144) at $350,300 and the highest is $599,000 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, increased slightly to 43 days in July which is 7 days more 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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