Portland Housing Market Report November 2020

November Residential Highlights

New listings (2,238) increased 5.7% from the 2,118 listed in November 2019, and decreased 36.3% from the 3,515 listed in October 2020.

Pending sales (2,557) increased 12.4% from the 2,274 offers accepted in November 2019, and decreased 20.1% from the 3,199 offers accepted in October 2020.

Closed sales (2,745) increased 25.3% from the 2,191 closings in November 2019, and decreased 13.0% from the 3,155 closings in October 2020.

Inventory and Total Market Time Inventory decreased to 1.0 months in November, the lowest on RMLS™ record. Total market time increased to 41 days.

Year-to-Date Summary Comparing the first eleven months of 2020 to the same period in 2019, new listings (36,619) decreased by 6.7%, pending sales (30,933) increased by 7.5%, and closed sales (29,159) increased 6.5%. Average and Median Sale Prices Comparing 2020 to 2019 through November, the average sale price has increased 7.1% from $459,300 to $492,000. In the same comparison, the median sale price has increased by 6.8% from $410,000 to $438,000.