Portland Real Estate Market Update
Portland real estate brought similar activity again in October, it showed some slight improvement with closed and pending sales. Closed sales in Portland, Oregon increased 14.1% and pending sales rose 15.1%. Not a surprise but an important point to note was that new listing dipped 22% compared to October 2010. Doing a month to month comparison of Portland real estate showed that closed sales increased by 7.1% and pending sales increased only slightly by 0.9% and new listings declined by 2.7%.
The Portland real estate average sales price fell 6.5% and the median fell 6.7% when being compared to October of last year. Year to date closed sales are up 2.7%, pending sales have increased 4.5% and new listings fell 26.3%.
The numbers above include the entire Portland Metro are. By most standards we are in a healthy Portland real estate market with a 3.6 month inventory of conventional based real estate listings with purchase prices below $200,000 and just over 5 months over $200,000.
Please call us if you have any questions on Portland real estate or a specific home in a Portland neighborhood.
