It’s here! RMLS December Market Action. Without further adieu, here’s the punchline: Month-over-month, the average sale price increased 8.3% when comparing the month of December 2007 with that of December 2006 and median sale price increased 1.1%. Surprisingly, at least to me, 2007 condo appreciation is listed at 13% over 2006 prices and that follows… Continue reading 2007 Year End December Market Action

RMLS Market Action for October was just released. Nothing really surprising in the broad numbers. Inventory is up to almost 12 months. Accepted, closed and pending sales are down from this time a year ago. Average and Median prices are also down for the Portland Metro Area. The following breakdown “is based on a comparison… Continue reading RMLS Market Action October 2008

Slow sales have sent inventory skyrocketing to 15 months.  The average sales price is down 10.5% since last November. The median price is down 7%. North Portland is the only area reporting “Total Time on Market” under 100 days (98). Pending sales have dropped between 14.8% and 38.5% since the same time last year.

While the snow fell, inventory soared to a record 19.2 months.  The total number of active listings appears to be about the same as it was in January 2008 but the slow in sales (732 in 2009 compared to 1085 in 2008) means the listing will take longer to sell in this market.  The 732… Continue reading RMLS Market Action January 2009: Portland Inventory Soars

Did Portland real estate hit bottom in January?  Are we looking back at the bottom or a bump?  Portland housing inventory dropped again in March 2009 to 12 months RMLS Market Action reports.  January had the highest ever recorded inventory at 19.2 months, it dropped to 16.6 in February and March levels are close to… Continue reading RMLS Market Action March 2009

The chart above is from the March 2009 Market Action (click to enlarge). 

Today’s RMLS Market Action reports the first drop in March to April inventory since 2004.  The drop in inventory is attributed to the increase in pending sales as the actual number of active listings increased to .  Inventory calculated as the number of active listings divided by their rate of sale. The market still lags… Continue reading RMLS Market Action April 2009

The image below is a snapshot of the just published RMLS Market Action for May 2009.  The decrease in inventory (a ratio of the active number of listing (14,493) and rate of sales) can be attributed to an increase sales activity as the number of listings has increased.  Between January 2007 and May 2007, inventory… Continue reading RMLS Market Action May 2009

Portland real estate inventory dropped to 8.2 months, the lowest level since August 2007 according to the RMLS Market Action report released today.  Many say six months of inventory is market equilibrium.  Anything higher indicates a buyer’s market and anything less is a seller’s market.  Is that an outdated model in a new economy? Monthly… Continue reading RMLS Market Action June 2009

The Federal Reserve meeting ended its two day meeting today without changing interest rates.  CNN reports, “Central bank says the long decline for U.S. economy appears to have ended, although it’s likely to remain week for awhile.” RMLS just released its latest Market Action report with some strong numbers for July: Closed sales in the… Continue reading RMLS Market Action July 2009