Portland June RMLS Market Report

Now that temperatures have hit the mid-nineties it appears summer is officially in full swing here in the Portland metro area. For those who like to soak up some warm rays I'm sure that is really exciting. For people like me who cringe at the idea of being exposed to sunlight, that means you'll be seeing a lot more blog posts as I hide away in an office with the shades drawn. 

Portland Real Estate

Here at PDX Urban, we got the latest market numbers as published by RMLS up through the month of June. As always, if you enjoy this article and wish to receive regular updates from PDX Urban, I encourage you to sign up for our Newsletter. You are also welcome to Contact Us with any questions and we'll be happy to talk!

Perhaps a bit of a mixed blessing for many, the Portland metro area saw some cooler activity this June, but closed sales saw a gain over last month. At 2,946, closed sales slipped 7.6% below the 3,187 closings recorded last year in June 2017, but outpaced May 2018 (2,803) by 5.1%. Even so, June closings were last lower in 2014, when 2,617 were recorded for the month.

Portland Real Estate Inventory

The most surprising number for me is the fact that Inventory rose to 2.1 months in June, with total market time holding steady at 37 days. Increasing inventory is often a sign of prices easing downward, however since two months is still a market heavily skewed toward sellers, it remains to be seen how much of effect this will have in the long run. 

Portland Real Estate

Activity so far in 2018 is a little mixed compared to 2017. New listings (22,079) are up 2.7%. Pending sales (16,297) are down 1.7% and closed sales (14,546) are down 2.2%.

Portland Home Prices

Comparing 2018 to 2017 through June of each year, the average sale price rose 6.2% from $427,000 to $453,400. In the same comparison, the median sale price rose 6.7% from $375,000 to $400,000. I expect to see these gains cool off a little bit too as inventory increases. I say that with a grain of salt however. Past trends have been a lousy predictor of the future in today's real estate market. 

Portland Real Estate

New listings, at 4,515, ended 4.7% cooler than in June 2017 (4,739) and 3.2% cooler than last month in May 2018 (4,665). Pending sales fared similarly. There were 3,059 offers accepted, falling 6.0% below the 3,254 offers accepted last year in June 2017 and 4.4% below the 3,201 offers accepted last month in May 2018.

Andrew Kaiser

My name is Andrew Kaiser, welcome to my site! I have a passion for making images wherever and whenever I can. I seek to capture humanity and the world around me with a focus on the figure. Film, digital, pinhole, and instant photography are all fair game for me.

I grew up in the California Bay Area and started taking photography seriously in High School. I was one of the lucky few who had a chance to go to a high school with a working darkroom and a teacher who understood that making images was an art form – care and patience was a necessity in the image making process from start to finish.

Later in life I attended the University of California in Santa Cruz where I received a Bachelors Degree in the History of Art and Visual Culture. After having my fill of the California sunshine I packed up my life and moved to the Pacific Northwest. I quickly found the overcast skies, lush forests, cooler temperatures, and creative communities to be a perfect match for my work.

Over the years I have exhibited my photographs in several galleries and art shows including the Seattle Erotic Arts Festival and Cascade AIDS Project. I’ve published a few books and taught workshops up and down the west coast of the United States. Through this site I’m hoping to share my work and perhaps inspire others along the way.