If you thought the Real Estate market in Portland was hot last year, then this year it's been on fire. Still, the numbers are cooling off as we head into fall.
According to the latest RMLS Market Action Report, pending sales in September were 15% stronger than the same time last year making it the strongest September since 2006. Still, the monthly change between August and September saw a cool-down of 5.6%.
Closed sales saw a similar trend as the annual numbers were up 10.2% annually but the August to September numbers saw an 8% cool down.
Year-over-year new listings saw a 6.1% growth from September of 2013 but the August to September numbers decreased 13.4%.
Inventory rose by 1/10th of a percent from Aug. to Sept to 3.1% while the total market time decreased by 3 days to 60.
The Average home price for the first 9 months of the year was $333,000 in Portland which is a 7.4% increase from the same period last year. Meanwhile, the Median price rose 7.5% from 2013 to $285,000.
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