Market Conditions Ending March 31, 2012

Residential Real Estate Inventory drops in Portland, Oregon to a five year low at five months of supply. Many areas of Portland registered below 4 months. Inventory is calculated by dividing the current active listings for sale by the total closed sales in each area. A five month supply of homes means it would take approximately five months to clear off all the current homes for sale at the current rate of sale, assuming no more homes come on the market. From March 2011 to March 2012 the Total Market Time decreased by -16.3%, the Average Sales Price and Median Sales Price stayed relatively flat, Closed Sales are up 4.9%, Pending Sales are up 12.8% and New Listings are down -5.6%. The last time inventory has been this low was in June of 2007. The Average Sales Price Percent Change is -5.1%. This statistic is measured by taking the average sales price over the last 12 months ($262,700) and comparing it by the average sales price over the previous 12 months ($276,900). This is a good broad measurement of overall market performance as it takes 24 months of average rolling data. Using the laws of supply and demand with supply down and demand up you should start to see prices rising. If this trend continues you will notice increases in Average Sales Prices. Right now there are slight in certain areas and decreases in others.