Real Estate Market Tightens as Listings Decrease and Prices Increase

It is still a seller's market.

A new report from the Regional Multiple Listing Service shows the real estate market in the Portland metro region tightening - with fewer houses listed and the average sale price rising.

According to the report, there have been 13,059 new listings through the end of April this year, compared to 13,345 during the same period last year. As a result, there have been only 11,198 sales so far this year, down from 11,479 during the same period the year before.

As might be expected, those sales are going for more money.

Through April this year, the average sale price has been $397,700 compared to $347,5000 last year. The median price this year has been $350,000 compared to $301,300 last year.

As you move around the region, the story varies:

In the Oregon City/Canby region, there were 216 pending sales in April this year, up 14.3 percent compared to last year;

In Beaverton/Aloha, though, there were 307 pending sales in April this year, down 14 percent compared to last year;

In Lake Oswego/West Linn, there were 177 pending sales in April this year, down 11.5 percent compared to last year;

In Hillsboro/Forest Grove, there were 229 pending sales in April this year, down 18.5 percent compared to last year;

In Wilsonville/Tigard, there were 315 pending sales in April this year, up 2.6 percent compared to last year;

In Gresham/Troutdale, there were 242 pending sales in April this year, down 1.6 percent compared to last year;

In Portland, which is divided into North, Northeast, and Southeast, there were 125, 282, and 420 pending sales in April of this year - decreases of 23.3 percent, 13.5 percent, and .9 percent, respectively.

Go here to see the full report.