Pending and closed sales saw gains this month in the Portland metro area, compared with October 2018. Pending sales (2,575) rose 3.7% over the 2,484 offers accepted in October 2018, falling 4.1% short of the 2,686 offers accepted last month in September 2019.

Closed sales (2,588) rose 6.1% from the 2,440 closings recorded last year in October 2018 and increased 8.9% compared with the 2,377 closings recorded last month in September 2019.

New listings, at 3,064, decreased 1.2% from October 2018 (3,100) and 11.7% from September 2019 (3,470).

Inventory decreased slightly to 2.4 months this October, while total market time rose by two days to land at 54 days.

Activity is a bit cooler so far in 2019 compared with 2018. Pending sales (26,599) are up 0.4%, new listings (37,091) are down 1.4%, and closed sales (25,085) are down 1.8%.

Comparing 2019 to 2018 through October, the average sale price has increased 1.2% from $453,600 to $459,000. In the same comparison, the median sale price has increased 2.5% from $400,000 to $410,000.