In the Portland, Oregon metro area, the real estate market continues to show a dynamic performance.
In April, we witnessed a significant 28.7% increase in new listings compared to March, and an impressive 17.6% rise from April of the previous year. Despite this surge in listings, the housing inventory remained notably tight, with only 2.4 months of supply available.
Why is inventory still low?
The answer lies in the robust activity in closed sales, which escalated by 19.3% from the previous month and saw a 10.3% increase compared to April last year. This pattern is typical for the season, as both supply and demand generally rise during this time, indicating healthy seasonal fluctuations in the Portland real estate market.
Are you wondering how these market dynamics could affect your real estate plans? Whether you're considering buying, selling, or just keeping an eye on the market, it's important to understand the implications of these trends. Feel free to reach out with any questions you may have about navigating the Portland real estate landscape.
