November Real Estate Market Numbers

November Real Estate Market Numbers

While most indicators are down this month compared to October (new listings, pending sales, closed sales, and prices), nearly all are up from this time last year. Every year we expect to see activity (and therefore prices) drop slightly in the fall and winter, so comparing to this time last year is a better indication of where the market is. With new listings up 16.2% and pending sales up almost 5%, the Portland Metro Area is still showing signs of a sellers’ market, despite the drops from last month.

The same goes for inner Portland active and new listings are up across the board from last year, and pending sales are up in both North and Northeast Portland. Prices are still increasing, though slower than earlier in the year, with the east side seeing the highest increases: both at 8.3%. As we’ve seen all year, the largest price increases are outside the urban core. This month we see Mt. Hood (+18.6%), Yamhill Co (+13.1%) and Columbia Co. (+12.7%) with the highest appreciation.