May 2021 Market Action Report
RMLS Market Action Report – Portland Real Estate Statistics
May Residential Highlights
New listings (3,971) increased 16.1% from the 3,419 listed in May 2020, and decreased 2.3% from the 4,065 listed in April 2021.
Pending sales (3,717) increased 19.4% from the 3,112 offers accepted in May 2020, and increased 9.3% from the 3,400 offers accepted in April 2021.
Closed sales (3,183) increased 62.1% from the 1,963 closings in May 2020, and increased 8.0% from the 2,946 closings in April 2021.
Inventory and Total Market Time
Inventory held steady at 0.7 months in May. Total market time decreased to 22 days.
Year to Date Summary
Comparing the first five months of 2021 to the same period in 2020, new listings (16,842) increased 9.3%, pending sales (14,864) increased 25.5%, and closed sales (12,737) increased 25.2%.
Average and Median Sale Prices
Comparing 2021 to 2020 through May, the average sale price has increased 18.9% from $465,600 to $553,500. In the same comparison, the median sale price has increased 17.0% from $419,000 to $490,200.
