MARKET UPDATE: February 2012

RMLS of Portland Market Action Report February 2012

February Residential Highlights
“While there were fewer active and new listings on the market, sales activity in Metro Portland showed an improvement in both pending and closed sales in February 2012. Also notable in February was a decrease in inventory, down from 7.0 last month and the lowest February inventory since 2007. Closed Sales were up 17.5% in February 2012 compared to February 2011. Pending sales grew 32.5%, and new listings dropped 13.6%. Comparing the previous month of January 2012 with February 2012, closed sales grew from 1,224 to 1,262 (3.1%). Pending sales also increased from 1,823 to 2,109 (15.7%). New listings dropped from 2,613 to 2,492 (-4.6%).
Sale Prices
“Average sale price for February 2012 rose 4.3% compared to February 2011. Median sale price fell 1.3%. Month to month, comparing January 2012 to February 2012, average sale price went up from $249,100 to $255,100 (2.4%) and the median sale price rose from $207,500 to $211,000 (1.7%).”

To view the full RMLS Market Action Report For February 2012 – Click Here

If you’d like to find out more about the Portland real estate market on market conditions in your neighborhood please contact me at 503.477.0759 or browse my website at www.RuthPriceProperties.com
Thank you for visiting –
Ruth Price

Numbers Up For First Quarter 2010

Numbers are up across the board for the Second Quarter 2010 compared to Second Quarter 2009.

            : Closed Sales up by 34%

            : Pending Sales up by 1%

            : New Listings up by 2.4%

            : Months of Inventory 7.3 Months

Could we be headed towards a more balanced market??

For more information and the full Market Action Report published by the RMLS for Portland please Click Here

Where are we now?

One of the first questions a buyer asks when considering a potential property that’s for sale is how much did the current owners purchase the property for?
As both buyers and sellers are trying to adjust the realities of the market I thought it might be good to take a look at where we are now compared to the past.
 
Below are the average sales prices  for the last seven years in the City Of Portland.
 
Feb 03	$212K
Feb 04	$225K
Feb 05	$265K
Feb 06	$300K
Feb 07	$320K
Feb 08	$365K
Feb 09	$310K
Feb 10	$298K
If you’d like more information about your specific neighborhood or home please contact me – as the market varies widely from neighborhood to neighborhood.

Portland Single Family Homes – January 2010 Market Update

{City of Portland} – SINGLE FAMILY HOMES – {January 2010}

 

Portland Condos – January 2010 Market Update

{City of Portland} – CONDOS – {January 2010}

 

Visit my website www.RuthPriceProperties.com for more information about Portland Oregon Real Estate.

Portland Metro Area – Market Snapshot – Summer 09

I thought I’d pass along an update on the state of the real estate market year to date. Closed sales have increased over the same time last year, inventory levels have been decreasing since January, the affordability index remains low and first time home buyers still have the opportunity to snatch up the Federal Credit of up to $8000. Interest rates are still phenomenal, though up a bit from the record lows we’ve seen at the beginning of the summer.

Please keep in mind that these numbers are combined for all of the Portland Metro Areas. Though this will provide an idea of the condition of the market as a whole, real estate is always localized to individual cities and neighborhoods. Therefore statistics and trends will vary broadly between different areas.

Available Months Of Inventory

The biggest change we’ve seen this year has been in the available inventory levels. New listings coming on the market continue to decrease, with July’s new listings declining by 25.4% over June’s new listings. The overall months of inventory levels have dropped steadily since January of this year, making July’s 7.3 months of inventory the lowest since August 2007. With less homes on the market to choose from, sellers will sell their homes quicker and buyer’s will most likely be competing with other buyers for desirable well priced homes.

Closed Sales

Closed sales in July increased by a staggering 8.6% over July 2007’s closed sales. This was the first month this year that saw any increase over last year’s numbers. There were a total of 1,988 closed home sales this July putting the year to date closed sales at 9,566.

Average Sales Price

Average sales prices are down 15.2% when compared to the same time last year. Below are average sales prices throughout the Portland Metro Area.

North Portland                      $237,500

North East Portland             $280,500

South East Portland             $237,900

West Portland                        $413,900

Beaverton                                $237,200

Tigard                                      $299,500

Lake Oswego                         $469,600

& West Linn

If you’d like market data for your neighborhood or have questions please contact me. You may also see the full RMLS Market Snapshot Report by Clicking HERE.

Please contact me, Ruth Price – The Hasson Co. Realtors – 503.802.8845 for more information about the Portland market.

March 2009 – Real Estate Market Stats – Portland Oregon

 

March 2009 – Residential Home Snapshots    
Portland Neighborhood Average Sales Price This Month YTD Average Sales Price Total Days on Market % Change in Value * 
North Portland $216,600 $232,000 114 -2.00%
NE Portland $290,000 $296,000 130 -2.00%
SE Portland $237,400 $239,000 149 -5.10%
West Portland $522,900 $462,700 179 -1.70%
* % Change is based on a comparison of the rolling average sale price for the last 12 months with 12 months before

Portland Metro Area total months of inventory 12.00

City Of Portland total months of inventory 10.85

All Stats Provided by RMLS (Market Action Report – March 2009)

To view the complete report available please click on the link below.

Click Here To View Full Report

 

Contact Ruth Price – broker with the Hasson Co. Realtors – for more information about the market, to find out your home’s value or with questions.

503.802.8845 or pricer@hasson.com

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