THE LATEST MARKET ACTION REPORT SHOWS YEAR END HIGHS IN REAL ESTATE

December Highlights

Metro Portland’s real estate activity cooled more compared to November, but numbers are still

up compared to last December and for the year overall. Closed sales (1,782) fell 2.1% compared

to November but are 1.3% ahead of December 2012. Likewise, pendings fell 18.8% to 1,484 from

November’s 1,827—but are 7.2% better than the 1,384 offers accepted in December 2012. Portland had the best December for pending sales since 2006, when there were 1,825! New listings fell 32.5% to 1,333 from November’s 1,976 but are a 3.7% increase from December 2012. The number of total active listings dropped to 7,511 in December, and total market time increased by a week to 87 days. Inventory decreased slightly in December to 3.2 months. 

Year-to-Date Summary

 There have been 27,065 accepted offers and 26,782 closed sales to date in 2013, up 12.7% from 24,010 pendings and 14.3% from 23,438 closed sales in the same period last year. The 35,858 new listings to date this year represent a 11.0% increase from the 32,300 entered through the end of last year.

Average and Median Sale Prices

The average sales price through the end of the year is $310,600, up 12.9% from the same period in 2012, when the average was $275,000. In the same comparison, the median price increased 12.8% from $235,000 last year to $265,000 to end 2013.