Portland Metro Real Estate Report for June 2011

21 06 2011

‘Tis the season.  Sales are up and…believe it or not, prices are up too.

 It is a bit of a dart board in places around the Portland Metro Real Estate Market, but overall we are seeing some very positive signs for both buyers and sellers.

 Good sale increases came in some of the lower price ranges as well as the upper end too for Portland Metro.  It is hard to pick winners and losers in this month’s report as some lower price ranges actually declined while others increased.   It is hard to take a true temperature of why some areas have picked up over others at this point.  West Portland and Lake Oswego saw an increase in numbers in the higher ranges above $900K similar to the beginning of the year.  The close-in east side also continues to be in demand for the current pool of buyers as well.

 As far as price, the numbers in North Portland sales went up 9.67%.  Oregon City and Lake Oswego followed a close second at 6.53% and 6.64% for their average sales price.  The other encouraging statistic is the bank-owned category which seems to be down significantly in the newly active listings for this report.  In general, the bank-owned pending and sold homes are down 59.87% and 13.59% for the rolling average.  The average sales price overall went up 3.82% for pending homes and 2.93% for sold homes.

Average Sales prices are counter to the recent RMLS Market Action report for June which had them down 4.8% at the end of May. The July Market Action may just have an increase to report if these numbers hold.  Keep a watch out for the Standard & Poor Case-Shiller report too.  It may have some sort of increase to report at the end of the month.

All in all, the numbers are showing some positive and negative trends alike.  Solid ground may not be here yet, but it may be just stable enough to consider it an improvement which may take hold.

 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 Report June 2011 

 

 

Dustin Miller

Broker

Realty Trust Group

 

 

 

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