Northeast Portland | Real Estate Reports by Area

Northeast Portland: February 2012

Northeast Portland Stats & Review

Overall the Northeast Portland market is still a buyer's market. Interest rates are still very low and the average market time is still ok at 105 days. When the year to year comparison and the average sales price percent change conflict I give it a current price trend rating of unchanged.

Northeast Portland's Average Sales Price Percent Change is -5.7%.

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 (3/1/11- 2/29/12) and compares it to the rolling average sales price of the previous 12 months (3/1/10-2/28/11).

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

The average homeowner's equity increased by $16,100 or 5.8% of value.
Average Sales Price in February 2012 was $279,600
Average Sales Price in February of 2011 was $263,500
Number of closed sales for the month of February was 145
The supply of homes stands at 3.7 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 105 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 -5.5%. The current year to year comparison is +4%. Since these two conflict I will have to give the current price trend rating for Portland to unchanged. To truly 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.
*This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (3/1/11- 2/29/12) and compares it to the rolling average sales price of the previous 12 months (3/1/10-2/28/11). In this case the rolling average over the last twelve months is $263,500 and the rolling average of the previous 12 months was $278,700. You take the rolling average price difference and divide it by previous 12 month rolling average and you get -5.5%

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

The average homeowner's equity increased by $10,600 or 4% of value.
Average Sales Price in February 2012 was $255,100
Average Sales Price in February of 2011 was $244,500
Number of closed sales for the month of February was 1262
The supply in the entire Portland Metro area stands at 6.5 months.
The time it takes on average from when a homeowner lists their home to when a home has an accepted offer is 138 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.

Northeast Portland: February 2012

2012 Portland Area/Section Reports: