Spring home-selling season starts slow in Portland area; prices match record high
The Portland area’s housing market fell into in a familiar pattern in March, with strong demand undercut by a slim supply of homes on the market.
The resulting competition drove prices higher, sales numbers from the Regional Multiple Listing Service show, even as sales slowed.
The median sale price in March was $395,000, which matches Portland’s record high, set last July. It represents an increase of 6.8 percent from March 2017.
The 2,371 homes sold during the month, however, represent a 4.9 percent decline. The number of pending sales — contracts for sales expected to close in coming months — also fell 4.9 percent to 2,894.