June 2015 numbers are in for the Portland Metro Area’s real estate activity. Let’s take a look.
For the sixth straight month of the year, housing inventory crept down: Just 1.6 months of inventory in June.
As mentioned previously, a well-balanced market contains about six months of inventory. The market remains an exceptionally strong seller’s market.
June saw 4,280 new listings come onto the market throughout the metro area, while 3,605 listings went pending and 3,302 listings sold. By the month’s end, there were just 5,388 active listings to choose among in the metro area. Total days on the market dropped to 44 days, compared to 55 days last month, and 61 days in the month before that. There are still a number of “hot” neighborhoods where listings sold in less than a week, if not in a matter of hours.
June 2015 Residential Single Family Real Estate Data*:
| Active Listings | New Listings | Expired Listings | Pending Sales | Closed Sales | Average Sales Price | Total Market Time | |
| N Portland | 135 | 151 | 27 | 152 | 141 | $342,100 | 24 |
| NE Portland | 283 | 364 | 51 | 330 | 311 | $392,500 | 37 |
| SE Portland | 427 | 495 | 64 | 431 | 379 | $340,900 | 27 |
| W Portland | 611 | 469 | 86 | 378 | 327 | $530,200 | 42 |
*Source: RMLS Market Action Report (June 2015)
I look forward to providing an update next month to show what has been happening locally in the month of May. Spoiler alert: the market, and the weather, will be hot, hot, hot.