As I always say, the season is everything in the Portland area housing market. As predicted, the numbers are going up after the (not so very) sleepy winter. It’s not as strong as it was last year but I think that’s relative in this market. New listings are doing well with 4,082 listings, which is 3.4% higher than in 2015 and 19.7% higher than March 2016. This is the best April for listings in six years!
Closed sales are down 4.5% from last year but are up 1.8% from last month. That’s still great news for sellers!
Pending sales are lower than last year by 5%, but are up an impressive 11.6% from March.
Market time (days on market) is down to 43 days this April. Inventory is at a still remarkable 1.4 months.
Both the average sales price and the median sales price have gone up since this time last year. The average price in the Portland Metro in April of 2015 was $336,000 and in April of 2016 was $365,100, an increase of 8.7%. The median has gone from $290,000 in April of 2015 to $318,000 in April of 2016, an increase of 9.8%