April Greetings from The Dennison Capen Group team!
March real estate numbers are out and the report is mixed. March home sales numbers paint a picture of a Portland-area housing market teetering on the edge of good news. Comparing March 2012 with March 2011 shows improvement in both pending and closed sales, which were also up compared to the previous month. You can review the complete report here.
In other news, we are happy to sponsor “Shred Day” day at the REMAX [...]
The market continues to improve with the average sales price going up and the inventory going down. We are looking forward to a busy spring and summer.
February Residential Highlights While there were fewer active and new listings on the market, sales activity in Metro Portland showed an improvement in both pending and closed sales in February 2012. Also notable in February was a decrease in inventory, down from 7.0 last month and the lowest February inventory since 2007.
Closed Sales were up [...]
This year has started off on a stronger note. We’ve seen improvement in the sales activity in the Portland metro area in both closed and pending sales when comparing this time to that of a year ago. Closed sales saw an 18.3% increase, and the highest numbers for January since 2007. Pending sales increased 22.4% in the same comparison. We also saw Market Time decreasing from 160 to 136 days. There were also 16.5% fewer newly listed residential properties, which [...]
December brought a typical reduction in listing inventory, but significantly, it also brought us down to levels we haven’t seen in some time. We ended the year with only 5.3 months of inventory down from a high of 11.3 months in January of 2011. This represents an interesting level as a Buyer’s Market is triggered at 6 months of inventory. This technically shifts us back to a Seller’s Market, although we will need to see a sustained level below 6 [...]
We continued to see an increase over this last year in the amount of both Closed and Pending transactions which amounted to an increases of about 19% each. We also saw a decrease in the amount of listing inventory and are back down to 6.2 months of inventory. This trend is common at this time of year as most wait until the New Year to put their properties on the market, as opposed to hitting the market over the holiday season. This [...]
Well folks, we maintained our inventory number with a very slight uptick to 6.8 months of inventory for the month of October. We continued to see improvement in both the number of pending transactions and closed transactions from 2010 levels with rises of 15.1% and 14.1% respectively. New listings were down 22%, which is resulting in the lower inventory numbers of course. When comparing the last 12 months to the previous, we have seen a 6.4% decrease [...]
We ticked up a bit this past month going from 6.2 to 6.7 months of inventory. Our average sales price continued to slip month over month and is down 4.2% from the same time last year. The quarterly comparison shows a 6.9% decline over the 3rd quarter results of 2010. The last 12 month average sales price is down 5.9% relative to the previous 12 month period. The average time on market for the year is 145 days while the [...]
The latest RMLS Market Report is out and we have more to report to our clients and friends curious about what is really happening out there locally. The Portland Metro area dipped back down from 7 months to 6.2 months of inventory and it would now take only 6.2 months to sell off all of the listings on the market if no additional listings were put on. If you will recall from previous posts a Buyer’s Market begins at 6 [...]
The Portland Metro inventory ticked back up slightly in July from 6 to 7 months. Many sellers continue to hold back in hopes of a better future market as evidenced by the reduction in new listings from last years levels. Pending and Closed sales for July outpaced the 2010 levels for the same period, and our average and median sale prices are down about 7.5% from last years levels. With our inventory down we are hoping to see a slow [...]
off all inventory within 6 months if not another listing were to hit the market. This is a much different story than is typically being discussed in the media. A Buyer’s Market is considered anything over 6 months of inventory so if we continue to see the decline in inventory that has been occurring since our January high point of 11.3 months of inventory we could very well be back in a Seller’s Market this summer. We also saw a rise in both the average and median sale prices. While this is simply a function of the specific properties that sold over the previous month and not of a general trend, it does set the stage for a close inspection of that overall possible trend and with supply going down consistently, we may be seeing a little bit of a bucking of the national trend as it relates to future continuing devaluation.
