Market analysis - september 2019

 September Residential Highlights Pending and closed sales saw gains this month in the Portland metro area, compared with September 2018. Pending sales (2,686) rose 8.7% over the 2,471 offers accepted in September 2018, falling 8.3% short of the 2,929 offers accepted last month in August 2019. Closed sales (2,377) fared similarly, rising 4.6% from the 2,272 closings recorded last year in September 2018 but showing cooling of 18.1% compared with the 2,901 closings recorded last month in August 2019. New listings, at 3,470, decreased 3.8% from September 2018 (3,606) and 7.6% from August 2019 (3,757). Inventory increased slightly to 2.8 months this September, while total market time rose by four days to land at 52 days. 

Year to Date Summary Activity is a bit cooler so far in 2019 compared with 2018. Pending sales (24,126) are down 0.1%, new listings (33,981) are down 1.3%, and closed sales (22,398) are down 2.5%. 

Average and Median Sale Prices Comparing 2019 to 2018 through September, the average sale price has increased 1.1% from $453,800 to $458,900. In the same comparison, the median sale price has increased 2.5% from $400,000 to $410,000. 

                                                                                                                            Information ©RMLS 2019

 September Residential Highlights Pending and closed sales saw gains this month compared with September 2018. At 757, pending sales rose 9.9% of the 689 offers accepted last year in September 2018 despite falling 13.1% short of the 871 recorded last month in August 2019. Closed sales, at 731, fared similarly, outpacing September 2018 (677) by 8.0% but cooling 14.6% from August 2019 when 856 closings were recorded. New listings (904) fell 4.9% short of September 2018 (951) and 15.8% short of August 2019 (1,074). Total market time held steady at 47 days in September, while inventory increased just slightly to 2.5 months. 

Year to Date Summary Activity is a bit mixed in 2019 compared with 2018. Pending sales (7,117) are up 3.8%, while closed sales (6,567) are holding steady and new listings (9,439) are up 0.9%.

Average and Median Sale Prices Comparing 2019 to 2018 through September, the average sale price has increased 3.1% from $392,300 to $404,300. In the same comparison, the median sale price has increased 3.9% from $355,000 to $369,000. 

                                                                                                                            Information ©RMLS 2019