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.

No real surprise that Portland’s 2008 real estate activity ended with a thump.  We’ve traditionally seen a slow down in our business during the holidays and then the Arctic Blast brought showings to an almost standstill.  One of the few showings that we did have on a listing has resulted in a pending sale.  None… Continue reading Year Ends with Market InAction- RMLS Dec. ’08

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

Each month when RMLS publishes their data in Market Action, it is broken into areas.  The areas are numbered using the same system that the Oregonian uses to separate their real estate classified ads.  I added the area numbers in the graphic above (click on it to enlarge) for clarification as often Realtor-speak simply refers… Continue reading RMLS Market Areas and Median Prices Mapped

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