August Residential Highlights - Portland Metro - August 2015 - What is the market doing! See here now

August Residential Highlights

The Portland metro area saw slightly cooler real estate activity in August, but all measures remain

strong.

2015 Pending sales-(3,347) ended 23.8% stronger than August 2014 - 2,704

This was 4.2% lower than July 2015 Pending offers at 3,494

The last August where there were more pending sales in the same month for the Portland metro

area was in 2005- (3,771)

Closed sales- (3,098) ended 19.8% above August 2014-(2,586 )

This is a 10.3% drop from July 2015 which posted (3,452) closed units.

New listings August 2015, - were up 8.3% (3,880), stronger than August 2014 – (3,581) 

This is down 9.2% from July 2015 numbers of (4,273) units

Inventory rose slightly in August to 1.9 months. Total market time decreased slightly, to 41 days.

There are currently a total of 5,837 active residential listings in the Portland metro area.

Year to Date Summary

Activity has been higher in 2015 than in 2014 across the board. Pending sales (24,784) are up

24.4%, closed sales (22,026) are up 21.8%, and new listings (30,314) are up 8.5% for the year thus

far.

Average and Median Sale Prices

Prices continue to rise in 2015 compared to 2014. Comparing each year through August, the

average sale price rose 6.2% from $332,600 to $353,200. In the same comparison, the median sale

price rose 7.0% from $285,000 to $305,000

From PMAR - Portland Metro Market Action Report for full copy of this report please email me at lfox@kw.com