Sept. 16, 2010

Portland Real Estate Market Update - August

Portland Real Estate Sales Activity for August 2010

The number of home sale closings in the Portland metro area dropped 2.2% from July to August of 2010. During that same period pending sales grew 3.6%. New listings fell 5%. At the rate of sales Portland metro area has just over 11 months worth of listing inventory*.

When comparing August 2010 to the month prior, July 2010, the average sale price increased 0.8% ($299,300 v. $297,000) and the median sale price also went up 1.6% ($250,000 v. $246,000).

A comparison of sales activity of Portland real estate in August 2010 with that of the same time frame last year (August 2009), shows that closed sales decreased 25%. Pending sales also dropped 21.7%, while new listings rose 1.3%.

Increases are seen when comparing year to date numbers, January-August 2010 with the same period in 2009.  Closed sales increased 14.7% while pending sales grew 4% and new listings grew 6%. The average sale price for August 2010 increased 1% compared to August 2009, while the median sale price stayed the same.

Market Report by Area
Year to Date Average Sales Price
Lake Oswego / West Linn                                                                         $441,500
West Portland & Downtown                                                                    $408,000
NW Washington County                                                                           $370,700
Tigard / Tualatin / Sherwood / Wilsonville                                       $304,500
Northeast Portland                                                                                    $285,100
Milwaukie / Clackamas                                                                              $263,700
Oregon City / Canby                                                                                   $260,600
Beaverton / Aloha                                                                                       $243,900
Southeast Portland                                                                                      $238,100
Hillsboro / Forest Grove                                                                           $230,800
North Portland                                                                                              $232,100
Yamhill County                                                                                             $231,600
Gresham / Troutdale                                                                                   $215,200
Columbia County                                                                                          $186,100

*Inventory in Months is calculated by dividing the Active Listings at the end of the month in question by the number of closed sales for that month.

Rich Peralta is a real estate professional in the Greater Portland area.  Rich can be reached at 503.961.2181 or by e-mail at rich.peralta@exprealty.com

Click here for more information on Portland Real Estate!

Originally posted by Rich Peralta on www.findmyoregonhom.com

Share This Post
Please enable Javascript to comment on this blog

Sites We Follow