Market Conditions Ending November 30, 2011

Inventory for the Portland Metropolitan area remains under 7 months residing at 6.2 months. This means it would take approximately 6.2 months at the current rate of sale to clear off the current inventory assuming no new listings would hit the market. The average sales price from 2011 November - 2010 November is $264,400. The average sales price from November 2010 - November 2009 was $283,600. This means the average homeowner in the Portland Metropolitan area lost $19,200 on their home value. This really hits hard for the homeowners in Lake Oswego who have an average sales price on their dwellings at $385,700 which leads the state ending November. The Beaverton/Aloha area's have been hit the hardest the last two months in the average sales price percent change from last year to previous year losing -11.6% of their values. Total market time remains strong at 135 days. The current trend continues new listings are down, pending and closed sales are up, average sales price is down and the total market time remains somewhat level.