Market Statistics: February 2020

Every month RMLS publishes statistics on the Portland Metro real estate market. Here's our take on last month's numbers:

New listings, at 2,759, increased 12.9% from February 2019 (2,444) and rose 0.2% from January 2020 (2,754).

Pending sales (2,598) increased 17.7% over the 2,208 offers accepted in February 2019, and rose 14.4% from the 2,271 offers accepted last month in January 2020.

Closed sales (1,897) rose 9.9% from the 1,726 closings recorded last year in February 2019 and increased 14.1% compared with the 1,663 closings recorded last month in January 2020.

Inventory decreased slightly to 1.9 months this February. Total market time decreased to 68 days.

Year to Date Summary-- Comparing the first two months of 2020 to the same period in 2019, new listings (5,544) have held steady 0.6%, pending sales (4,792) increased 14.2%, and closed sales (3,616) have increased 12.1%. Comparing 2020 to 2019 through February, the average sale price has increased 5.0% from $438,200 to $460,200. In the same comparison, the median sale price has increased 3.7% from $393,000 to $407,500.

—by Laura Bower, Think Real Estate