October 2020 – Real Estate Market Action Report

by | Nov 27, 2020 | Market Watch, Portland

It’s October and the numbers are in! Here’s your report for the month of October 2020 Portland: The biggest take away from this month was comparing year-over-year there are 14.7% more new listings on the Portland Market.

OCTOBER RESIDENTIAL HIGHLIGHTS

New listings (3,515) increased 14.7% from the 3,064 listed in October 2019, and increased 7.7% from the 3,264 listed in September 2020.

Pending sales (3,199) increased 24.2% from the 2,575 offers accepted in October 2019, and increased 1.5% from the 3,152 offers accepted in September 2020.

Closed sales (3,155) increased 21.9% from the 2,588 closings in October 2019, and decreased 3.0% from the 3,251 closings in September 2020.

INVENTORY AND TOTAL MARKET TIME

Inventory increased 7.7% in October. Total market time decreased to 38 days.

YEAR-TO-DATE SUMMARY

Comparing the first eight months of 2020 to the same period in 2019, new listings (34,307) decreased 7.5%, pending sales (28,518) increased 7.2%, and closed sales (26,298) increased 4.8%.

AVERAGE AND MEDIAN SALE PRICES

Comparing 2020 to 2019 through October, the average sale price has increased 11.9% from $461,400 to $516,500. In the same comparison, the median sale price has increased 12.1% from $410,500 to $460,000.

Check out the full report here.

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