Market Conditions Ending October 31, 2009

October 2009's Portland Real Estate Market showed yet another month of inventory declines in Portland, Oregon.  The inventory levels dropped from 7.6 months in September to 6.5 months in October.  The total average time on market increased to 135 days and 143 days year to date.  The average sales price declined 12.6% year to date.  In October 2009 the average sales price was $335,700 and now the average sales price dropped to $293,300.  New listings were down, pending and closed sales were up, but because the average market time was higher than last month than chances are the inventory levels will end up remaining somewhat level or slightly increasing a bit.