Market Conditions Ending March 31, 2011

Portland Metro Inventory levels ending March 2011 dropped from 10.9 months to 7.1 months.  The Average Sales Price Percent change continued it's steady decline by -3.4%.    This is calculated by dividing the average sales price for March 2009-March 2010  $286,600 by the average sales price from March 2010-March 2011 or $276,800.  When comparing March 2010 to March 2011 new listings are down a whopping -38.7%, pending sales are down -16.2%, closed sales are down -10.2% the average sales price is also down -6.8%, and the total market time is up 13.3%.  The total market time ending March is at 161 days.  This means it takes an average of 161 days from the time a property is listed to when the owner accepts an offer.