Market Update – Portland
The biggest story continues to be the lack of inventory, which has been historically low for nine months. Prices are escalating and most homeowners are receiving multiple offers within the first couple of days.
Home Sales
There wee 2,946 sales in April:
- 46.2% increase compared to April 2020. Month on Inventory decreased to 0.8 in April 2021.
Listings
There were 4,065 new listings in April:
- 42.7% increase compared to April 2020.
Both the listings and sales activity have increased, resulting in an upward trend in prices.
The average sold price was $543,900
- A 16.9% increase compared to April 2020.
Median price also increased by 16.8% compared to last year.