RMLS MARKET ACTION APRIL 2013

10 04 2013
Portland's Market is On Fire!

Portland’s Market is On Fire!

Eyebrow raising numbers this month as the number of pending and sold sales have both gone up significantly: From last month, pending is up 23.4% and sold up 40.6%! As a result, our inventory took another dive 28.8% down to 3.2 months. The last time we had this or lower inventory was June 2006 where it was 2.6 months.

On prices, we went up 6% over the month before on the average sales price and up 3.3% for the median sales price. Usually people try to break these down year to year to show the significances in difference, not this month.

 

Predictions from last month I was right on…
o Low inventory will drive up the average and median sales prices again for the year. The S&P Case-Shiller report will also reflect this.
o Inventory will continue to go down as sales numbers are up. On March 7, 2013 I recorded 3.5 months of inventory.

Predictions from last month I was wrong on…ZERO!

Compared to Last Year
Inventory down to 3.2 months.
Closed sales up 14.2%.
Pending sales up 15.7%
New listings down 4%.
Average Sales Price up 18.4%
Median Sales Price 15.9%

Compared to Last Month
Closed sales up 40.6%
Pending sales up 23.4% (way up from January’s report of -0.9%!)
New listings up 22.4% (still couldn’t keep the inventory # from going down)
Average Sales Price Up 6%
Median Sales Price Up 3.3%

Great news for Portkand Real Estate

Great news for Portkand Real Estate

Get the mitts!  This tater’s a Hot One!

 

April 2013 RMLS Market Action

View The Full Report

 

Dustin Miller

Broker & Market Analyst

Portland, Oregon

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3 responses

14 04 2013
Fred Stewart

Reblogged this on Oregon Real Estate Round Table.

15 05 2014
realestateincostarica

Howdy! This is my first comment here so I just wanted to give a quick shout out and tell you I truly enjoy reading through
your blog posts. Can you recommend any other blogs/websites/forums that
go over the same topics? Thanks!

18 05 2014
localrealtor

I do not have any specifics which I read other than the actual reports themselves and the blogs associated with them.

Respectfully,

Dustin Miller

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