RMLS: Average Portland home price soars

Portland home buyers closed 1,467 sales in February, marking the best February since 2007.

But figures released Wednesday by the Regional Multiple Listing Service contained some signs of cooling.

RMLS said the average price of $325,000 is 15.4 percent ahead of a year ago. But compared to a year ago, accepted offers are down 13.2 percent, to 1,848, and new listings are down 4 percent, to 2,354.

Overall, there were 5,752 active residential listings in February, representing a 3.9-month inventory at current activity levels. That’s the lowest February of the past three years and comparable to late summer of 2012, traditionally the end of the busy summer home-buying season.

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About PortlandHouseListings.com - Tom Ramsey, local Realtor

Local Portland Realtor with 10 years experience specializing in residential sales and investment property. Tom Ramsey Oregon Real Estate Principal Broker John L Scott Real Estate Phone: 503-481-0501 tomramsey1@gmail.com www.PortlandHouseListings.com
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