Russell Homewood,PC 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 Email:Russ@portlandhomesales.com
Specializing in Residential and Commercial Real Estate in Portland, Downtown - The Pearl, South Waterfront, NW, Beaverton, Tigard, Hillsboro, Lake Oswego, Tualatin, Sherwood, Milwaukie, Gladstone, Wilsonville and Oregon City. Experienced in New Construction, Vintage Homes, Condominiums & Commerical Properties! Serving Washington, Multnomah & Clackamas Counties.
Click HereMonthly Market Statistics. Or - See Summary Below! Valuable information on your community! Call or email me for more details on current market conditions.
March Residential Highlights Market activity in March showed forward progress for month-to-month comparisons, but remains slow compared with the level of activity a year ago.
When comparing March to February 2008, closed sales were up 22.2% (1,691 v. 1,384) while pending sales also increased 5.5% (1,938 v. 1,837).
On the other hand, comparing March 2008 with March 2007, closed sales were down 39.1% and pending sales decreased 36.9%. New listings also dropped a slight 1.8%.
Also notable in March was a decrease in the level of inventory from February. At the March rate of sales, the 15,412 active residential properties would last 9.1 months.
First Quarter / Year-to-Date Comparing market activity through March 2008 to the same period in 2007, the first quarter also shows slowing in the number of transactions. New listings grew 7.3% (14,695 v. 13,697). However, closed sales dropped 32.6% (4,285 v. 6,359) and pending sales were down 35.6% (5,282 v. 8,204).
Appreciation A comparison of the 12 months ending in March 2008 with the 12 prior shows that the average sale price appreciated 4.9% ($344,700 v. $328,700). Using the same formula, the median sale price appreciated 5.1% ($290,000 v. $276,000).
