PORTLAND RESIDENTIAL HOME SALES INCREASE IN FEBRUARY WHILE HOME PRICES CONTINUE TO CLIMB

The latest RMLS Market Action Report is hot off the presses and it shows that last month was the best February for closed home sales in the Portland area since Feb. of 2007.   There were 1,467 closed sales last month and that's a 5.1% increase from January and a 6.6% year-over-year increase.

 

Home prices are also still on the rise in the Rose City as the average price increased 12.8% over the past 12 months. The median price increase 14.9% to $269,000 over the past year.

 

Despite all the good news, there were some low lights to the report. Pending homes fell 8.8% from January while new listing also dropped 8.9% over the month. The number of active listings were up while the average days on the market also increased but are still at the lowest level since 2008 at 3.9 months.

 

If you are in the market for a new home, I'd love the opportunity to help. You can call me at 503-318-1918  to find out about my services and get a free market analysis of your current home. I can also get you into a new home by assessing your needs.

I'd also appreciate your referrals. They are the life-blood of my business.

Thanks so much.