PropertyExplorerPDX » Market Data – July 2009 http://propertyexplorerpdx.com Portland, OR Real Estate Sat, 16 Jan 2010 16:02:46 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 July ‘09 – Residential Market Highlights http://propertyexplorerpdx.com/2009/08/12/july-%e2%80%9809-residential-market-highlights/ http://propertyexplorerpdx.com/2009/08/12/july-%e2%80%9809-residential-market-highlights/#comments Wed, 12 Aug 2009 23:33:37 +0000 gibbons1 http://propertyexplorerpdx.com/2009/08/12/july-%e2%80%9809-residential-market-highlights/ 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).

Regional Comparsion Chart
City

Portland
Region N NE SE W
RMLS Area 141 142 143 148

June
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

Year-To-Date
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.

ARE YOU IN THE KNOW?

 Subscribe to Ask a Portland REALTOR…
]]> http://propertyexplorerpdx.com/2009/08/12/july-%e2%80%9809-residential-market-highlights/feed/ 0