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 [...]
Reports
Portland Residential Real Estate Report: December 2011
Jan, 17 12 Post by: DCG | No Comments
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 [...]
Portland Residential Real Estate Report: November 2011
Dec, 19 11 Post by: DCG | No Comments
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 [...]
Portland Residential Real Estate Report: October 2011
Nov, 16 11 Post by: DCG | No Comments
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 [...]
Portland Residential Real Estate Report: September 2011
Oct, 20 11 Post by: DCG | No Comments
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 [...]
Portland Residential Real Estate Report: August 2011
Sep, 26 11 Post by: DCG | No Comments
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 [...]
Residential Real Estate Report: Portland Metro, July 2011
Aug, 29 11 Post by: DCG | No Comments
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 [...]
Residential Real Estate Report: Portland Metro, June 2011
Jul, 19 11 Post by: DCG | No Comments
The latest figures for June are out and our inventory is now down to its lowest level since June of 2007. At its current rate of 6 months of inventory we would sell
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.
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.
Residential Real Estate Report: Portland Metro, May 2011
Jul, 14 11 Post by: DCG | No Comments
Our clients hear information about the market from various sources and often ask us what to trust. We pull our facts directly from the local source…the Regional Multiple Listing Service or RMLS, which publishes their statistics in the middle of each month for the preceding month. Please call us to find out how you and your family’s home might be affected by the market at any given point in time, or how targeting specific areas for a purchase might be [...]
