Oct. 16, 2010

Portland Real Estate Market Update – September 2010

Here is the latest market update for Portland Real Estate.
When comparing September 2010 to September 2009, closed sales decreased by 22.3%.
Pending sales and new listings also fell by 30.7% and 1.4%, respectively.
A comparison of September 2010 with the previous month, August 2010, shows closed sales increased by 1.3% (1,399 v. 1,381). However, pending sales dropped by 6.2% (1,584 v. 1,688), and new listings fell by 7.3% (3,549 v. 3,829). At the month’s rate of sales, the 14,714 active residential listings would last approximately 10.5 months.
Inventory Levels

Here is a break down of inventory levels for each real estate location in the Portland Metro Area.

Lake Oswego/West Linn = 14 Months of Inventory
Milwaukie/Clackamas = 14
West Portland = 12
North Portland = 11.6
Oregon City/Canby = 11.3
Gresham/Troutdale = 10.5
Beaverton/Aloha = 10.2
Tigard/Tualatin/Wilsonville =9.2
SE Portland = 8.5
NE Portland = 8.4
NW Washington County = 8.3
Hillsboro/Forest Grove = 8.3

From the list above you can see that Hillsboro/Forest Grove and NW Washington County have the lowest inventory levels while Lake Owego / West Linn have the highest levels.


Sale Prices

The average sale price for September 2010 declined 3.5% compared to September 2009.
The median sale price also fell 0.6%. On a month-to-month basis, comparing September 2010 to August 2010, the average sale price went down 6.5% ($279,900 v. $299,300) and the median sale price also dropped 4% ($240,000 v. $250,000).

Third Quarter Report

In a comparison of the third quarter of 2010 to the same quarter of 2009, closed sales dropped 24.7% (4,340 v. 5,762) and pending sales also fell 26.5% (4,725 v. 6,428). However, new listings increased by 1.2% (11,582 v. 11,448).

Click here for more information on Portland Real Estate!

Rich PeraltaRich Peralta is a real estate professional in the Greater Portland area.

Rich can be reached at 503.961.2181 or by e-mail atrich.peralta@exprealty.com
Originally posted on Lake Oswego Real Estate

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