Portland Real Estate - How's the Market April 2019
April Residential Highlights
The Portland metro area saw mostly gains this April, with new listings leading the way. There were 4,210 new listings, a 5.5% increase over April 2018 (3,990) and a 20.1% increase over the 3,504 offered last month in March 2019. This was the strongest April for new listings in the area since 2010, when 4,713 were offered. There were 5,400 total active residential listings in April.
There were 2,409 closings in the region in April, a 10.4% increase over March 2019 (2,183) but a decrease of 4.5% from the 2,523 closings recorded last year in April 2018. Total market time decreased in April to 53 days, with inventory holding steady at 2.2 months. Pending sales, at 3,102 in April, increased 3.1% over April 2018 (3,008) and 13.3% over March 2019 (2,738).
Comparing the average and median YTD sale prices 2019 to 2018 through April; the average sale price has increased +0.3% from $444,600 to $445,900, and the median sale price has increased +1.2% from $395,000 to $399,600. Comparing April 2019 to 2018, prices are flat.
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