Portland Metro Sales Report for January 2011

19 01 2011

This month’s report shows a tremendous shut down of real estate activity in the last 30 days compared to the 3-month rolling average.  It seems like many of the buyers and sellers just plain gave up trying in the past 30 days or fell into a well.  Like 2008, when I started these reports to find out where the buyers were, the only positive activity seems to be in the lowest price range.

North Portland, Milwaukie, Gladstone, Oregon City, Beaverton, Aloha all had a double digit increase in activity under $200k and one under $400k.  Most of the numbers however are in the red— in some cases drastically.  Pending sales in Hillsboro decreased 81% under the $400k mark.  NE Portland sold homes decreased 90.8% under $300k. 

Other bright spots were sold homes in West Portland in the $400k-$600k mark and the $900k-$1M mark.  Also, NW Washington County saw sold activity rise considerably in the categories under $400k.

Overall, the only price categories which achieved an increase were $900-$1M and under $200k; and, the number of sales are down from the rolling average by 18.7%!

The average price is similar with some more bright spots.  Pending homes in Gresham were the big winner with 29.23% appreciation against the average.  Newly active homes in Hillsboro were the big loser at -19.94%.  Short sales and bank-owned homes are also rising as the prices are still inching downward.  Gresham and Sandy also had a noticeable drop in bank-owned pending homes, vacant homes and short sales.

When down this low for the month, the only way to look is UP.

Complete Portland Metro Report January 2011

Get the full report here.

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