Inventory levels dropped to the lowest levels since August of 2007, making our supply of homes just over 6 months at 6.5. Pending sales rose 64% in October 2009 when compared to 2008, much of it driven by last minute first time buyers trying to cash in on the $8000 tax credit. In looking at the month to month comparison the average sales price was down 2.3% and the median rose 1.5% from September to October. In comparing October 2009 to 2008 the average sales price decreased by 12.% and the median declined by 10.9% The average time on market was 135 days. Since Portland metro market is so diverse with different inventory levels, appreciate and depreciation rates, it really depends on what area you are looking to buy/sell to determine how that micro market is behaving. For additional info on specific areas give me a call or an email and I'd be happy to help you make sense of all the available information.
Approximate Location Boundaries: Portland Metro
Location Characteristics: Portland is a diverse city with established neighborhoods, new construction developments and new high rise condo's downtown with out the urban sprawl you may find in other cities. We are a vibrant city and we are a destination city for the west coast. Home prices have remained relatively stable over the past months and we continue to enjoy appreciation in many areas of our housing market. Let me know what you are interested in and I will be happy to send you additional information.
About Kevin Begemann:
I am Kevin Begemann, a real estate professional for Oregon. I have 7 years of experience in real estate. I know what it takes to provide you with the highest level of service for the buying and/or selling of your largest financial asset.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
