Looks like the hot real estate market in Pandemic 2020 is here

Posted by Ken Miller on Tuesday, July 28th, 2020 at 5:11pm

June Portland Residential Highlights: According to the Regional Multiple Listing Service new listings (3,658) decreased 14.6% from the 4,281 listed in June 2019, and increased 7.0% from the 3,419 listed in May 2020. Pending sales (3,654) increased 18.5% from the 3,083 offers accepted in June 2019, and increased 17.4% from the 3,112 offers accepted in May 2020. Closed sales (2,709) decreased 1.7% from the 2,756 closings in June 2019, and increased 38.0% from the 1,963 closings in May 2020. Inventory and Total Market Time Inventory decreased to 1.5 months in June. Total market time increased to 42 days. 
Year to Date Summary: Comparing the first six months of 2020 to the same period in 2019, new listings (19,112) decreased 15.4%, pending sales (15,398) decreased 3.5%, and closed sales (12,955) decreased 6.4%. 
Average and Median Sale Prices: Comparing 2020 to 2019 through June, the average sale price has increased 2.6% from $456,700 to $468,500. In the same comparison, the median sale price has increased 3.9% from $407,000 to $423,000. 

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