August Residential Highlights Pending sales saw the sole gain this August in the Portland metro area. There were 2,929 pending sales, a 6.1% increase over the 2,760 offers accepted last year in August 2018, but falling 2.3% short of the 2,998 offers accepted last month in July 2019. Closed sales, at 2,901, decreased 2.2% from the 2,967 closings recorded in August 2018 and fell 1.5% short of the 2,944 closings from July 2019. New listings (3,757) fared similarly, ending 10.8% lower than in August 2018 (4,214) and 5.3% lower than last month in July 2019 (3,966). Total market time rose by five days in August to end at 48 days. Inventory held steady at 2.3 months. 

Year to Date Summary Activity is a bit cooler so far in 2019 compared with 2018. New listings (30,458) are down 0.9%, pending sales (21,585) are down 1.1% and closed sales (19,902) are down 3.3%. 

Average and Median Sale Prices Comparing 2019 to 2018 through August, the average sale price has increased 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. 

                                                                                                                            Information ©RMLS 2019

 August Residential Highlights Southwest Washington saw strong closings this August. At 856, closings rose 4.9% compared with last year in August 2018 and 3.0% compared with last month in July 2019 (831). This was the strongest August for closings since 2005, when there were 932 recorded. Pending sales, at 871, increased 7.3% from the 812 offers accepted in August 2018 but fell 5.7% short of the 924 accepted last month in July 2019. New listings, at 1,074, fell 0.8% short of August 2018 (1,083) and 7.4% short of July 2019 (1,160). Inventory decreased just slightly in August to 2.3 months, with total market time increasing by five days to end at 47 days. 

Year to Date Summary Activity is a bit mixed in 2019 compared with 2018. Pending sales (6,407) are up 3.2% and new listings (8,519) are up 1.6%, while closed sales (5,782) are down 0.9%. 

Average and Median Sale Prices Comparing 2019 to 2018 through August, the average sale price has increased 3.2% from $392,200 to $404,700. In the same comparison, the median sale price has increased 4.2% from $355,000 to $369,900. 

                                                                                                                            Information ©RMLS 2019