March 2010 Portland, Oregon Inventory and Property Reports:
Market Conditions Ending March 31, 2010
A little good, a little bad and a little misguided.
Overall the inventory dropped by 5 months which is quite
remarkable. The inventory dropped from 12.9 months to 7.8
months. What this means is that with the current rate of
sale it would take approximately 7.8 months to completely clear
out the current Portland inventory assuming that no more active
listings hit the real estate market. On a 12 month rolling
average the market continued it's decline by dropping the
average sales price by 10.9%. March 2009 the Average Sales
price was $321,900 and now it's $286,700. The Median Sales
Price also dropped from $271,000 (March 2009) to $245,000 (March
2010) which is a 9.6% drop. Sales activity is improving
but it's hard to say how much is because of the tax credit that
is set to expire at the end of April. Pending sales are up
46.7% compared to March of 2009. New listings are also up
35.3% and Closed Sales are up 51.9%. The average time a
property is on the market is 142 days.
For the corresponding statistical data for market conditions ending March 31, 2010 click here.
Click on any link below to see any of the previous market condition summaries for Portland residential real estate broken down by month and year:
Real Estate Market Conditions Archive For Portland, Oregon:
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