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

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Originally posted by Rich Peralta on

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