May 2010 Portland, Oregon Inventory and Property Reports:
Market Conditions Ending May 31, 2010
Pending sales are down 24.1% comparing May 2010 to May 2009.
But closed sales are up 43.7% when comparing the last 12 months.
The total market time continues to drop and is now 123 days just
about 4 months. The total market time is the amount of
days it takes from when a property is listed to when an offer is
accepted on the property. This does not account for homes
that are listed for a year and then pulled off the market
because they did not sell. The average sales price
declined 9.7% from $315,200 in 2009 to $284,600 this month.
The current inventory continued declining from 12.6 months in
January to now a 7 months which is the lowest it's been since
August of 2007. It will be very interesting to see what
the stats are in June. Closed sales should down next month
when compared to this month. Another measure of activity
is that new listings are also down 10.2% for the month but up
10.4% for the year.
For the corresponding statistical data for market conditions ending May 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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