Portland Metro Market Stats – December 2011 & Year End

The latest RMLS Market Action report for the greater Portland Metro area shows closed sales rose 4% and pending sales increased 6% when comparing overall activity from 2010 with that of 2011. For the year, the average sale price dropped 6.7%, from $282,100 to $263,300, and new listings were down 25.4%.

When comparing December 2011 to December of 2010, closed sales were up 10.3%, pending sales increased 19.3% and new listings were down 11.7%. At December’s rate of sales, it would take approximately 5.3 months (the shortest time period in recent years) to sell the 8,612 active residential listings on the market.

Portland Market Action Dec 2011

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