August ‘09 – Residential Market Highlights
Filed Under 2009, Residential Statistics · Tagged: Market Data - August 2009, Residential Statistics
In August, sales activity in the Portland metro area continued to outpace last year’s same-month sales totals.
Pending sales were up 13% and closed sales rose 4% compared to August 2008. However, new listings fell 14.1%.
On the other hand, closed sales dropped 7.4% (1,841 v. 1,988) compared to last month (July 2009). Pending sales fell 0.7% (2,156 v. 2,170). New listings dropped 3.3% (3,780 v. 3,907). At the month’s rate of sales, it would take approximately 7.8 months to sell the 14,295 active residential listings, up from 7.3 months in July 2009.
This was the first rise in inventory after six months of decline. However, inventory is still 21.2% below the August 2008 level of 9.9 months.
Year to Date
Comparing January-August 2009 with the same period in 2008, closed sales are down 15.6% and pending sales decreased 7.2%. New listings also dropped 22.4%.
Sale Prices
The average sale price for August 2009 was down 10.6% compared to August 2008, while the median sale price declined 10.8%.
Month-to-month, the average and median sale price were mixed when compared with July levels; the average sale price was up 2.7% ($296,300 v. $288,600) and the median sale price was down 0.04% ($249,900 v. $250,000).
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Regional Comparsion Chart |
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| City |
Portland |
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| Region | N | NE | SE | W |
| RMLS Area | 141 | 142 | 143 | 148 |
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August |
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| Active Listings | 509 | 1,060 | 1,451 | 1,888 |
| New Listings | 180 | 382 | 489 | 420 |
| Expired/Canceled Listings | 81 | 183 | 271 | 271 |
| Pending Sales 2009 | 114 | 221 | 291 | 189 |
| Pending Sales 2009 vs. 2008 | 35.7% | 18.8% | 8.6% | -8.7% |
| Closed Sales | 103 | 173 | 268 | 171 |
| Average Sale Price ($) | 240,800 | 278,100 | 239,900 | 413,200 |
| Total Market Time | 90 | 76 | 100 | 179 |
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Year-To-Date |
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| New Listings | 1,404 | 3,012 | 4,026 | 3,813 |
| Pending Sales 2009 | 680 | 1,392 | 1,917 | 1,338 |
| Pending Sales 2009 vs. 2008 | -12.1% | -8.7% | -5.8% | -20.4% |
| Closed Sales | 573 | 1,190 | 1,637 | 1,139 |
| Average Sale Price ($) | 235,700 | 290,800 | 244,000 | 426,400 |
| Median Sale Price | 230,000 | 255,000 | 217,000 | 353,000 |
| Average Sale Price % Change | -10.4% | -8.5% | -10.6% | -10.9% |
Data courtesy of RMLS.
Additional ‘Regional Comparison” data is available for other Portland Metro areas, please feel free to give me a call at 503.467.9997 or send an email.
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July ‘09 – Residential Market Highlights
Filed Under 2009, Residential Statistics · Tagged: Market Data - July 2009, Residential Statistics
Closed sales in the Portland metro area for July 2009 eclipsed last July’s total by 8.6%, marking the first time same month closed sales have increased since April 2007. Pending sales also grew 8.3%. New listings dropped 25.4%.
Comparing July 2009 with June 2009, closed sales increased 11.9% (1,988 v. 1,776) and pending sales were up a slight 0.3% (2,170 v. 2,164). New listings fell 8.2% (3,907 v. 4,257).
Inventory was down to 7.3 months, dropping for the sixth consecutive month, down from 10 months last July.
Inventory is falling at a time where it has historically risen. Along with an upswing in closed sales, the drop can be attributed to the fact that the number of homes on the market (14,503 in July) has seen little fluctuation in 2009.
Year to Date
Comparing January-July 2009 with the same period in 2008, closed sales are down 18.7% and pending sales decreased 10%. New listings dropped 23.4%.
Sale Prices
The average sale price for June 2009 was down 14% compared to June 2008, while the median sale price also dropped 13.5%.
Month-to-month, the average and median sale price were mixed when compared with June levels; the average sale price was down 3.7% ($288,600 v. $299,800) and the median sale price was up 0.04% ($250,000 v. $249,900).
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Regional Comparsion Chart |
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| City |
Portland |
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| Region | N | NE | SE | W |
| RMLS Area | 141 | 142 | 143 | 148 |
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June |
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| Active Listings | 516 | 1,050 | 1,466 | 1,953 |
| New Listings | 165 | 338 | 542 | 474 |
| Expired/Canceled Listings | 82 | 158 | 302 | 265 |
| Pending Sales 2009 | 99 | 203 | 315 | 201 |
| Pending Sales 2009 vs. 2008 | 8.8% | 3.0% | 25.5% | -5.6% |
| Closed Sales | 102 | 205 | 284 | 199 |
| Average Sale Price ($) | 237,500 | 280,500 | 237,900 | 413,900 |
| Total Market Time | 114 | 107 | 118 | 148 |
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Year-To-Date |
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| New Listings | 1,217 | 2,607 | 3,509 | 3,366 |
| Pending Sales 2009 | 572 | 1,178 | 1,649 | 1,153 |
| Pending Sales 2009 vs. 2008 | -17.1% | -12.7% | -7.4% | -22.7% |
| Closed Sales | 467 | 1,003 | 1,348 | 962 |
| Average Sale Price ($) | 234,900 | 293,100 | 244,600 | 428,700 |
| Median Sale Price | 230,000 | 255,000 | 219,000 | 355,000 |
| Average Sale Price % Change | -9.2% | -7.5% | -9.6% | -9.0% |
Data courtesy of RMLS.
Additional ‘Regional Comparison” data is available for other Portland Metro areas, please feel free to give me a call at 503.467.9997 or send an email.
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Just Listed! – 3024 SW Florida Court, Unit C, Portland, Oregon
Filed Under Just Listed · Tagged: Just Listed
I just listed this spacious 1 bedroom / 1 bathroom top-floor condominium. This Portland condo is located in the Capitol Hills neighborhood, providing easy access to Downtown, parks, entertainment, public transportation, freeway access.
3024 SW Florida Court, Unit C, Portland, Oregon
This move-in ready home offers the best of amenities.
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PROPERTY FEATURES |
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| Offered at | $144,000 |
| RMLS Number | 9062682 |
| Year Built | 1962 |
| Deeded Storage Square Feet | 41 |
| Main Square Feet | 819 |
| Total Square Feet | 860 |
| ROOM | FEATURES / DETAILS |
| Bedrooms | 1 |
| Bathrooms | Full : One |
| Bedroom | Dimensions: 12′ x 12′ Wall of Closets Ceiling Fan Wall to Wall Carpeting |
| Bath | Tiled Floor |
| Kitchen | Dimensions: 9′ x 7′ Built-In Oven Built-In Range New Dishwasher New Garbage Disposal Refrigerator Included Laminated Tile Flooring |
| Living Room | Dimensions: 23′ x 13′ Wood Burning Fireplace Wall to Wall Carpeting Blinds Mirrored Wall Crown & Chair Rail Molding |
| Dining Room | Dimensions: 13′ x 12′ Ceramic Flooring |
| Parking | 1 Car – Off Street Carport |
| Additional Comfort | In Unit Laundry (Washer / Dryer Included) Covered Deck Swimming Pool |
Contact me if you would like additional information about this property or if I can assist you in any way with your real estate needs.
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June ‘09 – Residential Market Highlights
Filed Under 2009, Residential Statistics · Tagged: Market Data - June 2009, Residential Statistics
This June, same-month pending sales were up for the first time since December 2006 in the Portland metro area, and inventory reached its lowest point since August 2007.
Comparing June 2009 with the same month in 2008, pending sales were up 8.4%, while closed sales decreased 5.4%. New listings also dropped 18.3%.
Further, comparing June 2009 with May 2009, closed sales increased 24.5% (1,776 v. 1,427) and pending sales were up 10% (2,164 v. 1,967). New listings also rose 9.7% (4,257 v. 3,879).
Inventory fell to 8.2 months, dropping for the fifth consecutive month and reaching it’s lowest point since August 2007. Active listings typically rise at this time of year, but were virtually unchanged since May (14,491 v. 14,493). Conversely, actives increased 10.1% from May to June in 2007, and 4.2% in 2008.
Second Quarter Report
Comparing the second quarter of 2009 (April-June) with that of 2008, closed sales fell 15.3% (4,625 v. 5,461) and pending sales dropped 3.2% (5,784 v. 5,972). New listings decreased 23.8% (12,165 v. 15,973).
Sale Prices
The average sale price for June 2009 was down 14% compared to June 2008, while the median sale price also dropped 13.5%.
Month-to-month, the average and median sale price were mixed when compared with May levels; the average sale price was up 2.9% ($299,800 v.$291,400) and the median sale price was down 0.04% ($249,900 v. $250,000).
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Regional Comparsion Chart |
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| City |
Portland |
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| Region | N | NE | SE | W |
| RMLS Area | 141 | 142 | 143 | 148 |
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June |
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| Active Listings | 534 | 1,055 | 1,462 | 1,869 |
| New Listings | 196 | 426 | 516 | 476 |
| Expired/Canceled Listings | 109 | 229 | 342 | 358 |
| Pending Sales 2009 | 115 | 224 | 285 | 226 |
| Pending Sales 2009 vs. 2008 | 27.8% | 11.4% | 3.6% | -13.4% |
| Closed Sales | 93 | 181 | 240 | 202 |
| Average Sale Price ($) | 237,000 | 299,800 | 261,300 | 421,200 |
| Total Market Time | 93 | 98 | 113 | 178 |
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Year-To-Date |
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| New Listings | 1,044 | 2,248 | 2,942 | 2,869 |
| Pending Sales 2009 | 477 | 987 | 1,353 | 973 |
| Pending Sales 2009 vs. 2008 | -21.0% | -14.8% | -12.8% | -24.6% |
| Closed Sales | 353 | 782 | 1,056 | 754 |
| Average Sale Price ($) | 233,900 | 295,900 | 246,400 | 433,700 |
| Median Sale Price | 230,000 | 258,500 | 219,900 | 355,000 |
| Average Sale Price % Change | -8.1% | -7.3% | -8.5% | -5.4% |
Data courtesy of RMLS.
Additional ‘Regional Comparison” data is available for other Portland Metro areas, please feel free to give me a call at 503.467.9997 or send an email.
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May ‘09 – Residential Market Highlights
Filed Under 2009, Residential Statistics · Tagged: Market Data - May 2009, Residential Statistics
Sales activity in May for the Portland Metro area continued to march upward compared to the prior month, but lagged behind 2008 levels.
Comparing May 2009 with the same month in 2008, pending sales were down 7.4% and closed sales decreased 23.4%. New listings also dropped 25.1%.
On the other hand, comparing May 2009 with April 2009, pending sales grew 5.8% (1,967 v. 1,860). Closed sales also rose 9.6% (1,427 v.1,302). New listings increased 1.9% (3,879 v. 3,808). Inventory dropped to 10.2 months, down from 11 months in April – the fourth straight month of decline. Active residential listings in May roseto 14,493 – up from 14,328 in April. Active listings appear to be increasing at a slower rate than usual for this time of year.
Year to Date
Comparing January-May 2009 with the same period in 2008, closed sales were down 28.1% and pending sales decreased 17.5%. New listings also dropped 23.8%.
Sale Prices
The average sale price for May 2009 was down 13% compared to May 2008, while the median sale price also dropped 13%. Month-to-month, the average sale price and median sale price both posted small gains when compared with April levels; the average sale price was up 0.1% ($291,400 v.$291,100) and the median sale price was up 0.04% ($250,000 v. $249,900).
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Regional Comparsion Chart |
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| City |
Portland |
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| Region | N | NE | SE | W |
| RMLS Area | 141 | 142 | 143 | 148 |
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May |
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| Active Listings | 522 | 1052 | 1,504 | 1,895 |
| New Listings | 165 | 369 | 497 | 499 |
| Expired/Canceled Listings | 85 | 179 | 273 | 240 |
| Pending Sales 2009 | 99 | 185 | 279 | 220 |
| Pending Sales 2009 vs. 2008 | -17.5% | -15.1% | -6.4% | -2.7% |
| Closed Sales | 59 | 145 | 197 | 161 |
| Average Sale Price ($) | 228,200 | 286,200 | 245,800 | 424,700 |
| Total Market Time | 120 | 96 | 110 | 165 |
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Year-To-Date |
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| New Listings | 837 | 1,802 | 2,389 | 2,361 |
| Pending Sales 2009 | 371 | 780 | 1,094 | 753 |
| Pending Sales 2009 vs. 2008 | -28.7% | -19.7% | -16.6% | -27.7% |
| Closed Sales | 257 | 589 | 801 | 546 |
| Average Sale Price ($) | 232,700 | 294,600 | 241,800 | 438,900 |
| Median Sale Price | 230,000 | 258,000 | 215,000 | 357,000 |
| Average Sale Price % Change | -6.4% | -4.3% | -7.7% | -2.2% |
Data courtesy of RMLS.
Additional ‘Regional Comparison” data is available for other Portland Metro areas, please feel free to give me a call at 503.467.9997 or send an email.
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