Published today, here are the latest real estate stats for our Portland metro areas.

RMLS™ Market Action Report May 2019

May Residential Highlights

May brought sunny numbers to real estate activity in the Portland metro area. There were 2,969 closed sales, a 5.9% increase over May 2018 (2,803) and a 23.2% increase over April 2019 (2,409). This was the strongest May for closings in the area since 2006, when 3,054 were recorded.bettyjung.com

PENDING SALES

Pending sales (3,292) rose 2.8% from May 2018 (3,201) and 6.1% from April 2019 (3,102).

LISTINGS

There were 4,902 new listings offered, a 5.1% increase from May 2018 (4,665) and a 16.4% increase from April 2019 (4,210). This was the strongest May for new listings since 2008, when 5,182 were offered.

INVENTORY

Inventory decreased slightly to 2.1 months in May, with total market time decreasing to 48 days in the same period.

YEAR TO DATE SUMMARY

Activity is mixed so far in 2019 compared with 2018. New listings(18,257) are up 4.3%, while pending sales (13,011) are down 2.6% and closed sales (10,986) are down 4.4%.

AVERAGE AND MEDIAN SALE PRICES

Comparing 2019 to 2018 through May, the average sale price has increased 0.9% from $448,600 to $452,700. In the same comparison, the median sale price has increased 0.7% from $399,500 to $402,400.

NATIONAL REAL ESTATE MARKET

There has been considerable national news stating that the Portland real estate market is favoring buyers.  This information is NOT true.  Our listing inventory has dropped again this month and we are at 2.1 months of houses for sale.  This is indicating it is still a sellers’ real estate market here in Portland.

As I have stated many times, a normal (average) real estate market is 5-6 months of inventory, or under 7 months.  We are NOT even in a normal market or even close to a buyers’ real estate market.  Everything is local, your neighborhood might be different and even your street might be different as to available houses for sale.

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are low and there is still buyer demand. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  Or check out my website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods! I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2019. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

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