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
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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.
December Residential Highlights Sales activity in the Portland metro area showed marked improvement this December compared to same month a year ago.
Closed sales were up 52.6% compared to December 2008 and pending sales rose 40.9%. New listings also rose 11.9%.
On the other hand, compared to November 2009, closed sales fell 16.% (1,506 v. 1,795). Pending sales dropped 14.1% (1,141 v. 1,328). New listings fell 15.8% (2,104 v. 2,499).
At the month's rate of sales, it would take approximately 7.7 months to sell the 11,597 active residential listings.
2009 Summary Comparing activity from 2009 with that of 2008, pending sales increased 4%. Closed sales were 0.9% short of the 2008 total. New listings fell 18.8%. See residential highlights table below.
Total sales volume for 2009 was $5.5 billion, down from $6.3 billion in 2008, and $9.7 billion in 2007. See 'Annual Sales Volume' graph on page 7.
Sales Prices The average sale price for December 2009 was down 2.5% compared to December 2008, while the median sale price declined 4.2%.
Compared to November 2009, the average price rose 7.3% ($293,300 v. $273,300) and the median grew 1.3% ($242,200 v. $239,000).
For the year, the average sale price dropped 12.2% compared to 2008. The median price fell 11.2%. See year-to-date information in the table below.
Portland MetroResidential Highlights
New Listings
Pending Sales
Closed Sales
Average Sale Price
Median Sale $
Total Mkt Time*
2009
December
2,104
1,141
1,506
293,300
242,200
144
2009
YTD
44,357
19,921
18,955
289,900
247,000
141
2008
December
1,880
810
987
300,800
252,900
138
2008
YTD
54,605
19,150
19,132
330,300
278,000
122
Change
December
11.9%
40.9%
52.6%
-2.5%
-4.2%
4.4%
Change
YTD
-18.8%
4.0%
-0.9%
-12.2%
-11.2%
15.9%
* 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.
