Our local multiple listing service (RMLS) released their real estate Market statistics for September covering the Portland metro area. Based on the latest data the market continues to be a sellers market overall with inventory at 2.8 months in September which is down from the 3.1 months worth recorded last September 2018. The inventory level was also up 0.5 months from the prior month of August.

Comparing market activity to a year ago, pending sales were up 9% while closed sale were up 5%. Active listings were down 7%. The median sale price of $410,000 in September was up 4.5% from the year prior.

Within the tri-county area (Clackamas, Multnomah & Washington) home inventory is currently lowest in Tigard/Tualatin/Sherwood/Wilsonville (Area 151) at 1.9 months and highest in West Portland (Area 148) at 4.0 months. The lowest median sale price is currently in Gresham/Troutdale (Area 144) at $345,000 and the highest is $598,000 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 to 52 days in September 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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