More Homes Are Selling But Demand Remains High In Portland

June 21, 2017

Though more homes were available in Portland, Ore., in May than in any month since 2008, eager buyers quickly took them off the market.

Oregon Live reports that 2,896 homes were sold across the Portland metro area in May, the same as last year. Tight inventory has pushed home prices up to a median of $388,000, 9.4 percent higher than a year ago.

Lower-priced homes are still seeing multiple offers within days. That includes suburban homes, well outside of the hot close-in neighborhoods of Portland. … "It does feel less frantic, but less frantic means instead of 20 offers, there's like five," said Mickey Lindsay, vice president at the real estate firm Oregon First. "It's still tough. It's just not bizarre."

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