Market Conditions Ending November 30, 2010

Inventory for the 5 consecutive months has stayed above 10 months and is currently at 10.2 months.  With no new listings and at the current rate of sale it would take approximately 10.2 months to clear out the current homes available in the Portland Metro area.    The Average Sales Price Percent Change is -2.3% ($283,400 versus $290,000 from last November.   The total time on market has increased from 131 days to 140 days.  This increase is common at this time of year.  Also when comparing November 2010 to November 2010 new listings are slightly down 1%, pending sales are up 7.4% and closed sales are down 28.7%.    The average sales price from November to November stayed relatively the same at -0.5%.