Market Conditions Ending December 31, 2009

December 2009 was similar to the previous 7 months real estate activity.  There are currently 7.7 months of inventory on Portland's books.  This means that at the current rate of sale it would take approximately 7.7 months to sell the 11,597 active residential listings.   From December 2009 to December 2009 the average sales price has declined 12.1% from $329,900 to $289,900 currently.  The median also dropped from $277,000 to $247,000 which is a 10.8% decline.  The current average time on market is 144 days and year to date it's been 141 days which overall is an increase of 4.4%.  A big stat is that in December 2009 the inventory was at 14.1 while the inventory now is at 7.7%.  That's almost a 50% decline year to date.