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.
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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.
RMLS has released the latest Market Action report for the greater Portland Metro area, and much like last month, the news is mixed. Comparing the period January – October of 2011 with the same time period in 2010 shows closed and pending sales are both up … 2.1% in closed and 4.5% in pending sales. When comparing October 2011 with September of this year, closed sales fell 7.1%, pending sales increased slightly and average price fell to $258,700, a drop of 3.5%.
RMLS has released the latest Market Action report for the greater Portland Metro area. The news is mixed… comparing the third quarter of 2011 with that of 2010, closed sales were up by 21.5%, pending sales increased by 21.6% and new listings fell by 27.6%. Average sales price dropped from $271,800 to $268,200 (down 1.3%) while median sales price increased from $225,000 to $230,800 (up 2.6%). Inventory stands at 6.7 months, which is up slightly from August, but remains much lower than the numbers in 2009 and 2010. Six months of inventory is considered a balanced market. With interest rates around 4%, it’s a great time to buy property.