Southeast Portland | November 2012 Real Estate Data Reports by Area

Southeast Portland: November 2012

Southeast Portland Stats & Review

Overall the Southeast Portland market is a neutral real estate market. On the buyer’s side interest rates are at all time lows and the average market time is also very low at 71 days. On the seller’s side overall inventory is very low and average sales price percent change is up significantly. When the year to year price comparison is up and the average sales price percent change is up significantly from last year at this time I have to give it a current price trend rating of Appreciating.

Southeast Portland’s Average Sales Price Percent Change is 5.9% ending November 2012 compared to Southeast Portland’s Average Sales Price Percent Change ending November 2011 was -9.5% or an increase of 15.4% comparatively.

Average Sales Price Percent Change is a good conservative indicator for determining if a market is appreciating or depreciating. *This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (12/1/11- 11/30/12) and compares it to the rolling average sales price of the previous 12 months (12/1/10-11/30/11).

Southeast Portland, Oregon's Current Real Estate Climate When comparing November’s results this year, (2012) to last year (November 2011) here is what you will find:

The average homeowner's equity increased by $12,000 or +5.3% of value.
Average Sales Price in November 2012 was $240,000
Average Sales Price in November of 2011 was $228,000
Number of closed sales for the month of November was 223, up by 24%.
Number of closed sales for November 2011 was 180.
The November 2012 supply of homes stands at 2.7 months, down 46%.
November 2011 supply of homes was 5.0 months.

(The supply or inventory is how long it would take to sell off the current/available homes on the market at the current rate of sale.)

The time it takes on average from when a homeowner lists their home for sale to when a home has an accepted offer is 71 days. This statistic is down by 53 days (The November 2011 Total Marketing Time ended at 124 days).

It's important to compare these statistics to the entire Portland Metropolitan area as a whole which includes all of the city of Portland as well as the surrounding suburbs. This will help you to determine how each area is performing.

City of Portland and All the Surrounding Suburbs Current Real Estate Climate:

The current Rolling Price Appreciation/Depreciation percent change is +3.2%, which is a 10% increase from -6.8% ending November 2011 . The current year to year comparison average price change from (November 2011- November 2012) prices are up 7.7%. With the Rolling Average Price increasing 10%, Average and Median Sales Price both substantially higher from last year, supply levels low at 4.2 months, demand up significantly, marketing time down to 101 days (135 days ending November 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 (12/1/11- 11/30/12) and compares it to the rolling average sales price of the previous 12 months (12/1/10-11/30/11). In this case the rolling average over the last twelve months is $272,800 and the rolling average of the previous 12 months was $264,400. You take the rolling average price difference and divide it by previous 12 month rolling average and you get +3.2%.

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

The average homeowner's equity increased by $20,000 or 7.7% of value.
Average Sales Price in November 2012 was $279,400
Average Sales Price in November of 2011 was $259,400
Number of closed sales for the month of November 2012 was 1733
Number of closed sales for the month of November 2011 was 1521
The closed sales ratio reflected an increase of 212 or 14%

The November 2012 supply in the entire Portland Metro area stands at 4.2 months down 2 months from last year.
The November 2011 supply in the entire Portland Metro area was 6.2 months, which was down 4 months from November 2010’s 10.2 months.

The time it takes on average from when a homeowner lists their home to when a home has an accepted offer is 101 days, which is down 34 days from November 2011’s total market time of 135 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.

Southeast Portland: November 2012

2012 Portland Area/Section Reports: