The latest RMLS Action Report for the greater Portland Metro area indicates the market recovery is solidifying. With the exception of new listings, all reported measures of real estate activity show improvement when comparing September 2012 with September of 2011.
When comparing last month to September of last year, closed sales were up 19.4% and pending sales increased 10.6%. Prices continue to inch up. The average sales price year-to-date of $272,200 is 2.9% higher than the average price at this time in 2011. Homes are moving quickly — over 20% faster than they were last year — and inventory stands at 4.6 months, with 6 months considered a balanced market.
To keep an eye on trends in your area, sign up for our exclusive Market Tracker report and you will receive a monthly recap by email, or contact a Prudential Northwest Properties real estate professional today.