The Portland area saw an uptick of new listings this January. There were 3,048 new listings, a 22.6% increase over January 2018 (2,486) and more than double the 1,255 new listings offered last month in December 2018. The prior January that had more listings was in 2011, when 3,128 were offered.

Pending sales, at 2,045, decreased 11.5% from January 2018 (2,311). However, they surged 27.9% ahead of the 1,599 offers that were accepted last month in December 2018.

Closed sales, at 1,451, ended 10.9% cooler than last year in January 2018 (1,628) and 21.4% cooler than last month in December 2018 (1,846).

Inventory rose to 3.3 months in January, with total market time rising to 76 days.

Comparing the average price of homes sold in the twelve months ending January 31st of this year ($452,200) with the average price of homes in the twelve months ending January 2018 ($430,000) shows an increase of 5.2%. In the same comparison, the median has increased 5.3% from $380,000 to $400,000.