September 2011 Portland Metro Real Estate Report

1 10 2011

  Getting Healthy!

September is full of interesting pockets.  It shows areas where we are getting healthy   with small percentages of positives and negatives as well as some odd sways in areas which leave me scratching my head.

In short, this month saw North Portland hit negative categories for sold homes where it normally would not have.  NE Portland, SE Portland, Milwaukie, West Portland, NW Washington County, you name it, saw a dip in the sales numbers for the under $200K category which could be indicating a small hiccup (though school-time seasonal) in sales in a normally strong price range.

The other oddities fall in the spotty increases like Gresham/ Sandy with positive numbers across the board in the pending home category, increases in the high-end for Lake Oswego sold homes, increases for Tigard/Tualatin/Wilsonville under $400,000 pending and under $400,000 pending homes for Hillsboro.

Overall, some slight increases in the low end, moderate decreases in the middle and spotty increases in the high end may be the norm for the next 6-12 months as buyers find their niche in this marketplace.  The sales number went down though for this month.  This may bring tougher numbers locally in the RMLS Portland Market Action, Case-Shiller and NAR 2-3 months from now.  Down 5.2% is not really what we were hoping for in a slow growing economy.

As far as price, the numbers were spotty too.  It is worth a quick scan across the board for your specific area.  On price, Gresham/Sandy Active & Lake Oswego/West Linn Pending took hits at -15.85% and -36.79%.  Overall we are down -6.23% over the average on pending home price but up 2.15% on sold home price.

The other categories saw another interesting trend of bank-owned homes split– down -6.23% for Portland pending homes and up 2.15% for the sold homes. 

Short sales saw a big increase in pending homes but a drop in sold homes and the vacant homes are starting to decline too on a small positive end.  Vacancy decrease is a nice indicator of good news though small.

 

Complete Portland Metro Report September 2011

The full report for download

Dustin Miller

Broker

Realty Trust Group

DustinM@RealtyTrust.com

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