Overview/Fluctuations ~ Market Data May 2021
Here is your look at the latest data covering the greater Portland area according to RMLS. Specific information on Neighborhoods is broken out below. (Numbers for June will be out mid-July ; )
The stats show New Listings dropped a bit (2.3%) in May from April, and/but Accepted Offers rose at the same time by 8%.
Just when we think record lows in Inventory can’t get any lower, they do. May took us down to 0.7 months of available housing.
Rates are still attractive hovering around 3.125%. Best to get out and get active if you are going to, given that the Fed indicated last week that they’ll be raising rates sooner than previously expected.
- There were 3,971 New Listings in May2021 increased 16.1% over April 2020’s 3,419 and decreased 2.3% from the previous month/April’s 4,065.
- At 3,183, May 2021’s Closed Sales are up 62.1% from May 2020’s 1,963, and also up 8.0% from the previous month/April’s total of 2,946
- At 3,717, May 2021’s Pending Sales increased 19.4% from May2020’s 3,112, and also rose 9.3% from the previous month/April’s total of 3,400.
- The Average Sale Price in May2021 of $582,200 is up $114,700 from last year/April 2020’s $467,500, and up $24,300. from the previous month/April’s $557,900.
- The “Median” Sale Price (the price smack dab in the middle of all sales) in May 2021 of $515,000 rose $90,000 from last year/May 2020’s $425,000, and also increased $15,000 from the previous month/April’s $500,000.