June Housing Numbers

RMLS Market Numbers for June are in! The Portland market has cooled a bit, with inventory increasing slightly and pending sales dropping, but prices continue to rise throughout the metro area.

New listings picked up in June – marking the strongest June for new listings since 2008. Pending sales were down almost 5% from May and inventory increased slightly to 1.5 month – indicating a slight slowing of the market here in Portland. Despite this, prices continue to rise with the average home price increasing to $412,000 and median price increasing to $362,000 – the highest we’ve seen this year and over 15% higher than last year.

Reflecting the broader market, pending sales dropped in all 4 inner-Portland quadrants, even though prices continue to rise. West Portland saw the largest drop in pending sales (20%) while North Portland had the largest increase in average home price at almost 15%. Popular neighborhoods are still competitive, but we’re seeing less of a frenzy than earlier this year.



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