(503) 320-3163
Portland Real Estate Market Conditions
Portland Real Estate Market Conditions for February 2011
February’s numbers for Portland real estate sales are now available. They look a lot like January’s. There are less active and new listing homes for sale in Portland and the metro area. However in February there were more closed home sales than in January or in the previous February. To compare February 2011’s numbers with January 2011, check my previous market conditions blog. A snapshot of the Portland real estate market for buyers: While the number of Portland homes for sale to choose from is going down (through homes being sold and less homes coming on the market to replace the inventory), prices appear to be stabilizing. The median sale price is now $213,700....
Read MoreHow bad is bad? The drop in Portland real estate values
How much did we lose in Portland real estate value? The numbers are in for the entire past decade now. What’s your guess? Is the median sales price for a home in Portland down to the level it was in 2000? 2002? That’s what most people say when I ask the question. (I frequently write about the Portland real estate market. Check out my other blogs here.) There has been so much bad news in the media about falling values. Everyone thinks we’ve lost the entire decade’s worth of home appreciation. Buyers think they should be able to purchase a Portland home for the same price as in 2000. Sellers who bought their home in 2001 or 2002 think they would...
Read MorePortland real estate market conditions January 2011
The Portland real estate stats for January 2011 are in. There’s some good news — closed sales are up and inventory of homes for sale in Portland is down– and some not so good news –home prices are still going down. To compare January 2011 figures with December 2010 check my previous blog. Comparing January 2011 Portland real estate numbers with January 2010: closed sales increased 5%, pending sales decreased 3% and new listings are really down—20.5%. The average sales price for Portland real estate dropped 11.9% January 2011 compared with December 2010 Portland home sales: closed sales dropped 29.2%, but pending home sales increased 23.1%. This bodes...
Read MorePortland real estate market conditions December 2010
The Portland real estate market had mixed results in December according to the RMLS Market Action report. Closed sales were up for the month. Inventory—available homes for sale in Portland—were down. To compare December with the previous month, check my previous market conditions blog. Comparing December 2010 with December 2009: there were 2.9% less closed sales. However pending sales increased 6% and new listings were down by 8.5%. (Remember, December’s pending sales are generally January’s closed sales. So expect brighter news next month.) December 2010 compared with November 2010: There were big increases in closed sales over November—14.3%. But pending...
Read MorePortland real estate market conditions November 2010
A quick post of the November 2010 Portland real estate statistics before the December figures come out. The November figures continue a downward trend but only by 1% compared to the previous month. Does this mean the downward slide is slowing?? To compare November with the previous month check my previous market conditions blog. Comparing November 2010 with November 2009, let’s remember that first time home buyers didn’t know the tax credit deadline of November 30, 2009 would be extended into 2010. Because of this many buyers who normally would have bought in a later month timed their purchases to close in November. This inflated Nov. 2009 figures. Now back...
Read MorePortland real estate market conditions October 2010
The numbers for October still portray a slow market for Portland real estate. While this is frustrating for sellers, it means continued opportunities for home buyers. To compare with last month, check my previous market conditions blog. Comparing October 2010 with October 2009, closed sales are down 35.7%, pending sales are down 21.5% and new listings are also down by 9.4%. These numbers seem terrible. But think about what was happening last October. The First Time Home Buyer Tax Credit was set to expire after November 30, 2009. Many, many buyers already had their new homes in escrow to take advantage of the credit. The tax credit artificially inflated October 2009...
Read More
