May Housing Numbers


May saw some cooling to the hot market in Portland. While higher than April, new listings and pending sales in May stayed essentially the same as last year, with closed sales actually decreasing slightly. Despite this, prices continue to rise with the Median sale price reaching $354,500, 13.3% higher than last year. The local inventory stayed steady as well at 1.4 months.

While the metro area saw steady new listings, the inner neighborhoods saw big jumps in May. North Portland increased by over 30%, though it still lags behind the the rest of inner Portland. Pending sales dropped in North and East Portland, but West Portland saw big increases. The average sale price in all quadrants increased by over 10% from this time last year. Indicating that while the market may have cooled a bit this month, we’re still on an upward trajectory heading into the summer.



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