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Portland Real Estate Market Conditions
Portland Real Estate Market Conditions December 2011
How’s the Portland real estate market? Comparing all of 2011 with 2010, there are mixed signals in the mls numbers. The good news is that closed home sales are up 4% over 2010 and pending sales are up 6%. However the 2011 median sales price for a Portland home is down 7.9% from the previous year. And the number of new listings is down 25.4%. Theses conditions could push Portland real estate prices higher in the coming months. Here’s why. The small amount of new listings coupled with a small increase in sales means less homes for sale to choose from. (We call it inventory.) December 2011 had 5.3 months of inventory (See the chart below from Portland’s mls.)...
Read MorePortland Real Estate Market Conditions November 2011
How’s the Portland real estate market? There were more closed home sales in Portland in November than there were in October or in the previous November. Sold home prices are also up. A home purchased in January, 2011 would cost about $10,000 more in November. Do you want to buy a home in Portland? Can you believe these interest rates? Fixed rate FHA loans and conventional loans are still under 4%. Now if buyers just had a few more homes to choose from… (Looking for Portland homes for sale? You can search the entire Portland MLS from this web site. Customize your search according to your house criteria, schools and lifestyle needs. Give it a try.) Thinking of selling...
Read MorePortland Real Estate Market Conditions October 2011
How’s the Portland Real Estate Market? Portland home sales this year are shaping up to be an improvement over 2010. According to the latest stats from RMLS, closed sales are up again compared with last year. For October 2011 closed sales are up 14.1% compared with October 2010. Pending sales are also up 15.1% compared with last year. Thinking of buying a home in Portland? Last week the 30 year fixed rate for an FHA loan was still 3.75%. Amazing! Who knows how long these low rates will last. Thinking of selling your home in Portland? For October the average market time was 136 days. (This report is a snapshot in time. To compare October with previous months, see...
Read MorePortland Real Estate Market Conditions September 2011
Here’s some good news for Portland real estate. Closed sales and pending sales are up over last year this time. Comparing closed sales for the third quarter of 2010 with the third quarter of 2011 closed sales were up a whopping 21.5%. (Pending sales increased 21.6% and new listings were down 27.6% over third quarter last year.) Thinking of buying a home in Portland? Last week the 30 year fixed rate for an FHA loan was 3.75%. Amazing! Who knows how long these low rates will last. (This report is a snapshot in time. To compare September with previous months, see my other Market Conditions Reports.) Portland Real Estate: Sales Closed sales for Sept 2011 up 13.4% over...
Read MorePortland Real Estate Market Conditions August 2011
Wow, Portland real estate sales have really improved… judging by the August 2011 numbers from our local MLS. Closed sales are up dramatically (30.7% over the previous August) and pending sales are also up. Portland home buyers must really be taking advantage of the extremely low interest rates. Last week the 30 year fixed rate for an FHA loan was 3.8%. Amazing! (This report is a snapshot in time. To compare August with previous months, see my other Market Conditions Reports.) Portland Real Estate Market: Sales Closed and pending sales are up for August 2011. Compared with the previous August (2010), closed home sales in the Portland metro area are up 30.7% and...
Read MorePortland Real Estate Market Conditions July 2011
July 2011 was an interesting month for the Portland real estate market. The MLS has published the monthly stats. Let’s try to make sense of it. To compare July 2011 figures with June 2011 check my previous blog. A snapshot of the Portland real estate market for Buyers and Sellers: Remember July? That’s the month the entire country (the entire world?) held its breath waiting for the US Congress to raise the nation’s debt limit. Uncertainty abounded. Hardly a time to make the biggest purchase of one’s life. And yet July 2011 saw more closed home sales and more accepted offers (pending sales) than the previous July. Inventory levels of homes to choose from are...
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