Portland & All Surrounding Suburbs: October 2012

City of Portland and All the Surrounding Suburbs Stats & Review:

The current Rolling Price Appreciation/Depreciation percent change is +2.3%, which is a 8.7% increase from -6.4% ending October 2011 . The current year to year comparison average price change from (October 2011- October 2012) prices are up 10%. With the Rolling Average Price increasing 8.7%, Average and Median Sales Price both substantially higher from last year, supply levels very low at 3.8 months, demand up significantly, marketing time down to 102 days (136 days ending October 2011) I have to give it an overall market rating of Appreciating prices. To establish trend you need to consider the very longer term such as rolling average sale price percent change from year to year but you also need to consider the immediate trend when compared to last year's same month and in many cases even the previous few months of data.

*This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (11/1/11- 10/31/12) and compares it to the rolling average sales price of the previous 12 months (11/1/10-10/31/11). In this case the rolling average over the last twelve months is $271,500 and the rolling average of the previous 12 months was $265,300. You take the rolling average price difference and divide it by previous 12 month rolling average and you get +2.3%.

When comparing October's results this year 2012 to last year (October 2011) here is what you will find:

The average homeowner's equity increased by $25,900 or 10% of value.
Average Sales Price in October 2012 was $284,600
Average Sales Price in October of 2011 was $258,700
Number of closed sales for the month of October 2012 was 2103
Number of closed sales for the month of October 2011 was 1474
The closed sales ratio reflected an increase of 629 or 43%

The October 2012 supply in the entire Portland Metro area stands at 3.8 months down 3 months from last year.
The October 2011 supply in the entire Portland Metro area was 6.8 months, which was down 3.9 months from October 2010 .
The time it takes on average from when a homeowner lists their home to when a home has an accepted offer is 102 days, which is down 34 days from October 2011's total market time of 136 days.

Portland Metro Real Estate data comes from the RMLS of Portland, which is the region's local multiple listing source for real estate listings. If you would like to receive e-mailed reports simply let me know.

2012 Portland Area/Section Reports:

For the most current Portland real estate market recap summary click here.
For the most current Portland real estate statistics summary click here.

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