Published October 1, 2019
August 2019 Market Action Report
Pending
sales saw the sole gain this August in the Portland metro area. There was a 6.1%
increase over accepted last year in August 2018, but falling 2.3% short of the offers
accepted last month (July 2019).
Closed sales decreased 2.2% from the closings recorded in August 2018
and fell 1.5% short of the closings from July 2019.
There was significantly fewer listings in August. 10.8% fewer
than available listings in August 2018 and 5.3% fewer than last month.
Total market time rose by five days in August to end at 48 days.
Inventory has held steady at 2.3 months.
Activity is a bit cooler so far in 2019 compared with 2018. New
listings are down 0.9%, pending sales are down 1.1% and closed sales are down
3.3%. Comparing 2019 to 2018 through August, the average sale price has
increased just slightly (1.0%) from $454,500 to $458,900. In the same
comparison, the median sale price has increased 2.2% from $401,000 to $410,000.
