The latest RMLS Market Action report for the greater Portland Metro area shows a slight increase in sales price when comparing November 2011 to the prior month. Average price rose to $259,400 and median price increased 3.3% to $225,000. Closed sales were up 18.9% when comparing November 2011 to November 2010. Looking at January – November 2011 and the same period last year, closed sales are up 3.4% and pending sales are up by 5.3%. Inventory currently stands at 6.2 months, the lowest in the last three years and four months lower than at this time last year. With mortgage rates at historic lows, this is a great time to buy a home.