June 2011 RMLS Market Action for Portland, Oregon

16 06 2011

Give and Take. . .

Prices went down both month-to-month and year-to-year.  This is different than last month when we had the second increase for average sales price in Portland in two months.  We are down 4.8% in average sales price compared to last year and down 1.8% in average sales price compared to last month.  The good news, though, is that activity is picking up considerably.  Pending sales are up 45% over last year though closed sales are down.  Last year’s low numbers had a little to do with the tax credit expiration date but this kind of increase without any true explanation is great news.  Folks are getting off the fence with interest rates bouncing up and down like the stock market.

 

 Compared to Last Year

Inventory down 0.2 months.

Closed sales down 15%.

Pending sales up 45.1%

New listings down 4.1%.

 

Compared to Last Month

Closed sales up 8.1%

Pending sales up 8.1%

New listings up 7.7%

 

Still Paddling . . .

 

 

 

 

 

June 2011 market action

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