Current residential inventory in the Portland area is about 3.4 months.
Not since 2007 has the month of January seen such strong numbers in pending home sales in the Portland metro region.
According to the latest Market Action report from the Regional Multiple Listing Service, pending sales in January hit 2,294, up by 13 percent over the same month last year and more than 37 percent compared to December 2014.
RMLS also reported that the 2,762 new listings in the first month of 2015 were up nearly 7 percent over last January 2014 and almost 80 percent over December. Closed sales were up in January over last year but actually about 34 percent below those closed in December.
Current residential inventory is about 3.4 months, which is down less than a month from last year. RMLS calculations also showed that average sales price was $333,600 and median price was $287,000, both up by more than 7 percent over 2014.
Courtesy of http://www.bizjournals.com/portland/blog/real-estate-daily/2015/02/the-portland-areas-2015-home-sales-get-off-to-a.html?iana=ind_rre