Inventory is still higher than usual, but is coming down just a bit. I hate to keep beating this drum, but it really is the best time of year to buy.  Two of my clients In particular just snapped up two gorgeous homes and had great options from which to choose. At this time of year prices have cooled and there aren’t quite as many Buyers out fighting you for showings. Its a perfect combination of variables.

Here is your look at the most recent data for the entire Portland area (October):

 

According to the RMLS Market Action Report for the Portland Metro Area, October, 2018:

  • There were 3,100 New Listings in October 2018 which was up 4.0% from October of 2017's 2,981, and/but down 14.0% from the previous month/Sept of 2018's total of 3,606 .
  • At 2,440, October Closed Sales fell  4.9% from October 2017's 2,565, but are up 7.4 % from the previous month/Sept 2018's total of 2,272.
  • October's Pending Sales (accepted offers), at 2,484 down 8.2% down from October of 2017's 2,705, but up 0.5% from the previous month/Sept 2018's total of  2,471.
  • The Average Sale Price in October of $454,400 was up $15,900 from October 2017's $438,500, and also up from the previous month/Sept 2018's $447,800 by $6,600.   

Neighborhoods: October's Average Sale Price + 12-month Appreciation:

  • North Portland:  $428,700               4.8%   (Sep 416,300)
  • NE Portland:  $463,100                     3.8%   (Sep 433,700)
  • SE Portland:  $395,200                      5.8%   (Sep 420,200)
  • Gresham/Troutdale:   $359,700     9.0%   (Sep 352,200)
  • Milwaukie/Clackamas:  $410,200  4.3%   (Sep 437,400)
  • Oregon City/Canby:   $408,600       6.4%   (Sep 404,300)
  • Lake Oswego/West Linn:$714,500 2.6%   (Sep 627,000)
  • West Portland:    $646,200                4.2%   (Sep 631,700)
  • NW Wash County:  $588,300            3.3%   (Sep 486,200)
  • Beaverton/Aloha:     $398,000          7.4%   (Sep 402,800)
  • Tigard/Wilsonville:   $454,400          6.9%   (Sep 466,900)
  • Hillsboro/Forest Grove: $400,500   6.5%   (Sep 393,200)