Real Estate Broker GRI (Graduate Realtor Institute) ABR (Accredited Buyer Representative) Diamond - Platinum Designation of the Million Dollar Club Business: 503/906.7139 Fax: 503/906.7539 Cell: 503/705.4584
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View Russ' Recommended Vendors April Highlights Portland is abuzz with real estate activity this spring. New listings continued to rise - at 3,623, the number of new listings for the month was the greatest in any one month since August 2010. This also represented a 20.7% increase over March's 3,002 new listings.
The increase in new listings helped inventory stabilize: the number currently sits at 3.1 months. Average time on market currently stands at 91 days - the last time market time was that low was July 2008.
Accepted offers increased this month to 2,942 an 11.9% increase over March (2,628) and 24.4% increase over April 2012 (2,365). Closed sales are up as well, with April's 2,125 posted sales representing a 9.8% increase over March and 16.6% increase over April 2012.
Year to Date Summary The Portland Metro area real estate market continues to have a strong year. There have been 9,314 accepted offers and 7,039 closed sales in 2013, up 16.4% from 8,000 pendings and 12.9% from 6,236 closed sales in the same period last year. The 11,678 new listings this year represent a 4.4% increase from the 11,182 entered by this time last year. Average and Median Sale Prices The average sales price so far this year was $293,600, up 15.3% from the same period in 2012, when the average was $254,600. In the same comparison, the median increased 15.6% from 216,200 last year to $250,000 in the first four months of 2013. Portland MetroResidential Highlights
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* Total Market Time is the number of days from when a property is listed to when an offer is accepted on that same property. If a property is re-listed within 31 days, Total Market Time continues to accrue; however, it does not include the time that it was off the market.