February 2012 Portland, Oregon Inventory and Property Reports:
| Overall the Portland Metropolitan Real Estate market kept inventory low at 6.5 months. This is a 1/2 month drop from the January and more importantly a significant number when going back in time. Ending February 2010 the inventory was 12.9 months and ending February 2011 inventory was 10.9 months. If you are wanting supply and demand to be balanced in the real estate market than you are very happy with this trend. Inventory is down 6.4 and 4.4 months respectively. Now that we addressed supply let us next address price.
The average sales price for a home in the Portland Metro area is $255,100 ending February 2012. Ending February 2011 the average sales price was $244,500 and ending February 2010 the average sales price was $273,100. If you are wanting prices to stabilize or go up then you are very happy with this trend too as home values are up on average $10,600 per home. However the 12 month averages sales price percent change is down -5.5% still. This is also an important indicator because it takes the rolling average sales price from the previous 12 months (March 2011 - February 2012) which is $263,500 and compares it to the rolling average sales price from the 12 months before that (March 2010 - February 2012) which is $278,700. This number indicates a reduction in the average home sales price by -$15,200.
Real estate is very much cyclical every year nationally and also cyclical locally based upon what is happening around Portland and in each section or suburb of Portland. |
For the corresponding statistical data for market conditions ending February 29, 2012 click here.
Click on any link below to see any of the previous market condition summaries for Portland residential real estate broken down by month and year:
Real Estate Market Conditions Archive For Portland, Oregon:
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