RMLS Market Action for Portland Oregon – May 2016

In the Portland Metro area, home prices continued to rise year-over-year, with an 11.9% average sales price increase from May 2015 to May 2016. The median sales price rose even more: 13.3%. The average price moved from $342,300 to $383,000, and the median price moved from $295,000 to $334,200.

Months of inventory stayed steady at 1.4 months. Every month since February 2015 – with the exception of November 2015 – has been below 2 months of inventory.

With the rising prices and exceptionally low inventory, Portland has been a very strong seller’s market for quite some time. If you are thinking of selling your home, it’s a great time to do so. Let me know if there’s anything I can do to help!

Full article can be found HERE.