Real estate stats for the first six months of 2019 continue to reveal a contracting market and a continued softening of prices in most of the Portland Metropolitan Housing Market.
Slightly more homes went on the market in the first six months of 2019 than 2018, but there were fewer pending sales, less closed sales and slight overall increases in average and median sale price.
|Five Months Ended||Increase|
|New Listings||26,455||26,629||174||More listings on the market|
|Pending Sales||19,221||18,778||(443)||Less pending sales|
|Closed Sales||17,445||16,903||(552)||Less closed sales|
|Ave. Sale Price||453,600||458,300||4,700||Ave. Sale Price up 1%|
|Med. Sale Price||400,000||408,000||8,000||Med. Sale Price 2%|
|Total Market Time||46||55||9||Total market time up 20%|
Beaverton/Aloha led the way with an average sale price increase in the six months ended June 30, 2019, of 6.3%; Yamhill County was 6.0%; Gresham/Troutdale was 5.5%; Oregon City/Canby was 5.1%. Areas that saw average sale price declines for that same period include NW Washington County of -1.8%; Mt. Hood of -1.5%; and North Portland of -0.3%.
Taking a look at Zillow for historical data and projected into the next year, I note that they expect:
97035: -0.9% last year and -0.7% projected.
97034: -4.0% last year and -2.7% projected.
West Linn: 1.8% last year and 0.2% projected.
Tualatin: 0.1% last year and -0.1% projected.
Beaverton: 2.4% last year and 0.7% projected.
Oregon City: 3.3% last year and 1.3% projected.
Wilsonville: 3.1% last year and 1.3% projected.