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Portland-area Home Sales Dip In February

Portland-area home sales for February 2019 are down from just one year ago and brokers are optimistic about the spring and summer seasons.

"Sales dropped 4.4% from a year earlier, according to new numbers from the Regional Multiple Listing Service, with 1,726 homes sold during the month," according to National Mortgage News.

"Another 2,200 homes were under a sale contract — a 5.5% decline from February 2018."

Despite a dip in sales, the metro is still experiencing rising home prices. The report revealed that the median sale price for February made a 3.9% increase to $399,900.

"Homes spent nearly a week longer on the market than a year earlier. Homes sold in February were listed for an average of 75 days through the day the seller accepted an offer," according to NMN.

An increase in viewings and open houses are the reason why many brokers are optimistic about the next two seasons, especially in an area where buyers are still finding themselves in bidding wars.

To learn more about Portland-area home sales and the forecast for spring and summer 2019, click on the image above.

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