PORTLAND — The median list price for homes in Portland hit $264,700 in May, up 1.85 percent from April and up 1.84 percent from a year ago, according to Realtor.com.
The national median list price in May was $194,900, a 3.17 percent increase compared to a year ago.
The inventory of homes for sale in Portland fell to 4,885, down 14.23 percent from a year ago. The national inventory for homes for sale totaled about 1.88 million, a 20.07 percent decrease compared with a year ago, Realtor.com said.
The median time homes sat on the market in Portland was 87 days, a 13 percent drop from April 2012.
Nationally, the median time housing inventory sat was 83 days, a 1.19 percent drop compared with April.
Portland was the 65th most-searched market in the nation in May, according to Realtor.com. The most- searched markets in the country included Chicago, Detroit and the Los Angeles-Long Beach, Calif., markets.
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