The following is the latest Real Estate Market Statistics for March 2020.
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- Sales: 2,356 in March 2020 vs 2,183 last March: 7.9%
- Pending Sales: 2,347 in March 2020 vs 2,738 last March: -14.3%
- New Listings: 3,468 in March 2020 vs 3,504 last March: -1.0%
- Average Sales Price: $461,600 in March 2020 vs $443,500 last March: 4.1%
- Total Market Time: 61 days in March 2020 vs 68 days last March: -9.7%
- Inventory in Months: 1.8 months in March 2020 vs 2.2 months last March
Inventory by Area:
- NW Washington County 1.48 months
- Beaverton/Aloha 1.19 months
- Hillsboro/Forest Grove 1.60 months
March is typically when we see an increase in the availability of homes for sale leading into the 'spring selling season'. Through the first quarter of 2020, it appears we are tracking similar to previous years with respect to the number of newly listed homes for sale in the Portland metro area. It will be interesting to see in next month's report how the 'Stay at Home' order, due to Coronavirus, is impacting the availability of homes.
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