Complete April Portland Metro Real Estate Report Out!

20 04 2011

Land Ho!

 It appears the ships coming in have some buyers and sellers on board.  The numbers in this report appear to be a confirmation on the RMLS April Market Action report which also showed some renewed signs of activity

 Significant increases in the total number of sales per area of Portland Metro seem to be more the trend.  For instance, North Portland picked up some sales in the higher price ranges and NE Portland saw a 43.6% rise in sales under $200,000.  Southeast saw similar numbers as well.  Down the list we can see numbers like an increase of 46.1% of homes pending under $400,000 in West Portland; and, Tigard/Tualatin/Wilsonville also have solid numbers between $200,000 and $500,000.

 As a whole, sales numbers across the whole Portland area have increase in double digits.  Some are startling such as all of them above $600,000.  In general, the Portland Metro real estate market has increased 24.6% over the previous 3 months averaged together.

 On the price end, it less dramatic, but, shows a lot of positive numbers compared to the previous months.  Gresham and Sandy took a hit in both pending and sales categories with a 21.53% and 16.46% decrease in sales price.  Lake Oswego was the big victor with a 14.36% increase in average pending sales price.  Overall the average pending sale price is up 3.67% and the sold price is only up .41%, but it, too, is up.

 I am also seeing mixed numbers depending on the specific area of Portland for bank-owned homes, short sales and vacant homes.  Overall though, all of these categories have increased pretty significantly.

 It is not necessarily frenzy out there since the previous months are considered to be the “off” season.  I have heard multiple accounts of some multiple offers out there, including some of my own, but the interesting fact is that many of those still are not full-priced offers.  Buyers are definitely cautious still based on many different market indicators.  That being said, many different people involved in the housing industry don’t mind taking off their rain coats and letting out a sigh of relief for the moment.  Worthy of saluting the ships coming in even…

  

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

 Complete Portland Metro April Report

Dustin Miller

Broker

Realty Trust Group

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