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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Market Trend Spotlight – Portland, OR Zip Code 97229

Here’s a summary of the market trends in Portland’s 97229 zip code, which includes the communities of Cedar Mill, Northwest Heights, Rock Creek and Bethany. Average price has increased 2.48% from November 2010 to November 2011. If you would like to see current real estate activity and market trends in your area, please click here and register for Market Tracker. Simply enter your name, email address and zip code — your information will remain private and only be used for the purpose of sending you this automated report.


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