2017 September's Stats

Across the metro area, September's average sale price is down 2.1% compared to August's average sale price, $495,668 vs. $506,515 respectively. In comparison to the same time last year, the average sale price is up 6.7%.

In comparison to last month:

• The number of new listings is down 8.0%
• The number of homes sold is down 11.8%
• Tthe number of homes pending is down 9.4%

In comparison to the same time last year:

• The number of new listings is up 4.9%
• The number of homes sold is down 3.4%
• The number of homes pending is down 0.2%

YTD (Year to Date):

• The number of new listings is down 0.6%
• The number of homes sold is down 2.4%
• The number of homes pending is down 5.5%

The Bottum Line:

YTD average sale price is up 7.9% in comparison to the 2016 YTD average sale price, $498,912 vs. $462,415 respectively. Despite fewer sales, there are no key indicators to a bubble or crash. The Portland Metro Area is coming off of two incredibly strong years of growth and 2017 has been a simple shift to lower growth. As a buyer, this is great news because inventories are creeping up and creating a less competitive field against multiple offers. As a seller, the market is still leaning in your favor, but pricing has become more critical.