The Regional Multiple Listing Service finds real estate activity picking up in the Metro Portland area. The April report shows a continual rise in the number of new listings, accepted offers, and closed sales.
On average, Metro-area real estate is being listed for 91 days before it sells—that is the shortest time since July 2008. And the number of new listings in April was the highest in any single month since August 2010.
The average sales price for this year also increased to $293,000.
Kelly Yock is a Principal Broker at Premier Property Group in Portland.
He says the available inventory numbers are striking.
“Right now we have 3.1 months of available inventory and what that means is if nobody listed another house, in three months they are none to buy. They’ll be all gone.”
Yock says consumer confidence is a factor in the current metro-area housing market.