March 2011 Complete Portland Metro Real Estate Report

19 03 2011

Spring is HERE!

 

This is the news we have been waiting for…  yes, it is seasonal to some degree, but the numbers this month show a considerable increase versus the rolling average in activity.  The daffodils woke up the buyers in this market and got them into the marketplace in the last 30 days.

 Big numbers such as a 38.9% increase in sales for Northeast Portland pending sales are very encouraging.  Go down the list for SE Portland pending sales, Milwaukie/Gladstone both pending and sold sales, Lake Oswego pending and solds and West Portland had a great win almost across the board ($500-$600K took a hit as well as above $900K).  Overall the sales numbers were very encouraging for this report with many positive numbers in the total categories as well as a big jump in the overall activity by 11.4%.  It is emotional out there to say the least!

 Now on pricing, most are still down, but some have increased—yes, I said it, increased!  Areas like Milwaukie/Gladstone pending homes went up 5.92% and Oregon City both pending and sold homes went up in percentage.  And so did Beaverton—they went up 6.38%.  Overall, the market price is down, activity is up, bank-owned homes are increasing in select areas and short sales are a teeter-totter.

Good news for many realtors and their families this month—your kids can have a choice of beef or chicken Top Ramen for lunch while on Spring Break.  No more tuna sandwiches!  Sellers most likely got out and are now walking free from that heavy burden on their backs. And, buyers got their dream home for a little more than cost of a fancy Barbie House at Costco or Cat Corral at Petco.  Oh, and I heard Charlie Sheen was going to forego renewing his real estate license.

 

Enjoy the full report and please feel free to contact me regarding any questions.  I love to talk past, present and future!

Dustin Miller

Broker

Realty Trust Group

Think outside the bowl!

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