July 19, 2011

Portland Real Estate – June 2011 Market Update

The average sale price of Portland real estate rose 1.8% from the prior month during June 2011.  The $4700 increase in average sale price ($262,400 to $267,100) is a welcome change.  The median sale price increased from $220,000 to $222,900 (1.3%). When comparing June 2011 to the same month the prior year (June 2010), the average sales price was down 7.8%.


Portland real estate continued its increase in the number of closings  for the second month in a row.  Closed sales increased from 1,742 to 1,958 (12.4%) while pending sales decreased from 2,167 to 2,001 (-7.7%).  New listings also went down from 3,338 to 3,143 (-5.8%).  When comparing June of 2011 to June of 2010, closed sales were down 2.7% and pending sales were up 23.7%, while new listings dropped 22.4%.At Junes 2011's rate of sales, the 11,817 active residential listings would last about 6 months.  That is the lowest it has been since 2007.

 

 

 

When comparing sales activity for April-June 2010 with the same period this year, the numbers were up and down. Closed sales decreased by 11.8% (6,191 v. 5,462). Pending sales went up by 2.3% (5,842 v. 5,978), and new listings fell 21.6%. the average sale price fell 6.1% ($282,300 v. $265,200), and the median sale price dropped 8.3% ($240,000 v. $220,000).

To see how last months data looked, click here.

 

Rich Peralta is a real estate professional in the Portland Metro Area, including Lake Oswego, Tualatin and  West Linn Real Estate.

He can be reached at 503.961.2181 or by e-mail at rich.peralta@exprealty.com

Contact him  for more information on Portland,  Lake Oswego or West Linn Real Estate!

Originally posted on West Linn Real Estate.

Share This Post
Please enable Javascript to comment on this blog

Sites We Follow