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.