It’s January and the numbers are in! Here’s your report for the month of December 2020 Portland: The biggest take away from this month was comparing year-over-year there are 5.3% Less new listings on the Portland Market. 

JANUARY RESIDENTIAL HIGHLIGHTS

New listings (2,579) decreased 6.4% from the 2,754 listed in January 2020, and increased 48.2% from the 1,740 listed in December 2020.

Pending sales (2,496) increased 9.9% from the 2,271 offers accepted in January 2020, and increased 24.6% from the 2,003 offers accepted in December 2020.

Closed sales (1,847) increased 11.1% from the 1,663 closings in January 2020, and decreased 33.8% from the 2,789 closings in December 2020.

INVENTORY AND TOTAL MARKET TIME

Inventory (2,579) decreased by 6.4% in January. Total market time decreased by 40.4%

YEAR-TO-DATE SUMMARY

Comparing the first 11 months of 2021 to the same period in 2020, new listings (38,442) decreased 5.3%, pending sales (32,849) increased 7.9%, and closed sales (32,031) increased 7.8%.

AVERAGE AND MEDIAN SALE PRICES

Comparing 2021 to 2020 through January, the average sale price has increased 11.2% from $463,000 to $514,700. In the same comparison, the median sale price has increased 13.3% from $406,000 to $460,000.