Portland Real Estate Market Update for June 2013

June Highlights 
June brought slightly cooler real estate numbers in the Portland metro area. At 2,511, closed sales decreased 6.4% this month compared to the 2,682 in May, but showed an increase of 11.9% over last June’s 2,244 closed sales. 

Pending sales (2,804) likewise decreased 5.8% compared to May (2,978), but represent an increase of 15.2% over June 2012. New listings numbered 3,751 this month—a 16.9% increase over last June, but a 2.1% drop from last month. 

Average total market time continued to drop this month, landing at 70 days. Inventory has edged up just slightly, and currently sits at 2.9 months. 

Year to Date Summary 
There have been 14,835 accepted offers and 12,531 closed sales in 2013, up 17.3% from 12,647 pendings and 16.0% from 10,802 closed sales in the same period last year. The 19,403 new listings so far this year represent a 8.8% increase from the 17,835 entered the first half of last year.

Average and Median Sale Prices 
The average sales price so far this year is $302,700, up 13.8% from the same period in 2012, when the average was $265,900. In the same comparison, the median price increased 14.2% from $225,500 last year to $257,500 in the first half of 2013.

Information Courtesy of RMLS

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Steve Roesch | Principal Broker, Owner
PDX Home Group, LLC
o. 503.748.8387 | c. 503.318.6351 | f. 503.748.8307
Steve@PDXHomeGroup.com

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Keller Williams Realty Professionals | 9755 SW Barnes Rd, Suite 560 | Portland, OR 97225