Market Conditions Ending November 30, 2009

In the Portland, Oregon area the real estate market's inventory increased slightly from 6.5 months to 7.1 months.  What this means is that at the current rate of sale it would take approximately 7.1 months to clear off all the current listings.  The average time on market remained somewhat level decreasing a bit from 135 days to 131 days.  Once again new listing were down and pending and closed sales were up from the twelfth month prior.  The average sales price is also down from $330,300 to $290,300 which is a 12.9% price decline from November 2009 to November 2009.  One big stat is that closed sales are up 72.4% (1795 to 1041) year to date from November 2009.  New listings also decreased by almost 20%.  Overall, the market still showing much volatility.