Pending sales saw the sole gain this June in the Portland metro area. At 3,083, pending sales rose 0.8% compared with June 2018 (3,059) despite decreasing 6.3% from last month in May 2019 (3,292). New listings, at 4,281, fell 5.2% short of the 4,515 new listings offered last year in June 2018 and 12.7% from last month in May 2019 (4,902).

Closed sales performed similarly, ending 6.4% under the 2,946 closings recorded in June 2018 and 7.2% below the 2,969 closings from May 2019.

Inventory rose slightly to 2.4 months in June. Total market time decreased to 42 days in the same period. There were 6,735 active residential listings in the Portland metro area this June.

Activity is mixed so far in 2019 compared with 2018. New listings (22,599) are up 2.4%, while pending sales (15,956) are down 2.1% and closed sales (13,842) are down 4.8%.

Comparing 2019 to 2018 through June, the average sale price has increased 0.7% from $453,400 to $456,700. In the same comparison, the median sale price has increased 1.8% from $400,000 to $407,000.