April Housing Numbers

Sales in the month of April slowed down a bit throughout the metro area. Both closed sales and pending sales dropped, but new listings were up, which is a good sign considering how low local inventory has been. Prices continue to rise with the median home price reaching $350,000 and the average home price hitting almost $400,000. Homes are still selling as fast as ever with total market time dropping over 15% from last month and almost 30% from last year.

Despite the overall drop in new listings, inner Portland neighborhoods all saw increases in new listings with West Portland leading the way with an increase of almost 30% over March. Median prices in all four quadrants also rose; SE rose the most at 3.45% and hit $300,000 for the first time. And again, homes all four quadrants are selling more quickly with North, NE, and SE all under 30 days.

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