Home > Blogs > Oregon > Multnomah County > Portland > Portland Metro Market Report for May 2011
1,882 views

Airika Waible's Blog

By Airika Waible | Managing Broker in Lake Oswego, OR

Portland Metro Market Report for May 2011

I am sure you will or have gotten the Portland Metro Area Market Report from a dozen sources but here it is again my way!

 

To see the full report you can also go to http://wheresthebottom.wordpress.com/

 

Cliff Notes and Highlights as I read the report:

 

Inventory:

Lowest it has been since October of 2009

11,925 Active Residential listings

This amount of listings would take 6.8 months to deplete

May 09 was 10.2

May 10 was 7.0

And let’s not forget the worst it has been at 19.2 mos. 

 

Compared to May 2010:

Closed sales down 15%   

Pending sales up 45.1%  (chalk this up to the fact that ZERO or less homes went pending when they took the Tax Credit away!!!)

Average price declined 4.8% (don’t jump off the bridge yet)

 

Compared to April 2011:

Closed sales up 8.1%

Pending sales up 8.1%

Average price did not change much

 

Price Changes Comparing 5-31-2010 to 6-1-2011 to one year earlier:

West Portland-   Down -0.7%

Northeast Portland – Down 0.9%

NW Washington Cty.- Down 1.5%

Biggest drops were in areas like:

Oregon City/Canby- Down 11.7%

Lake Oswego/West Linn- Down 11.5%

Hillsboro/Forest Grove- Down 10.7%

 

Days on Market (DOM):

Fastest time -North Portland 107 Days

Followed by- Northeast at 108 Days

And then - Hillsboro/Forest Grove 108 Days

Slowest time- West Portland 196 Days

And then – Oregon City/Canby 178 Days

 

 

Most of my friends, family, and business sphere is in Real Estate one way or another.  Watching the trends is time consuming and often a burden but it does point to what is going on now and most importantly in the past.  Through the data we can figure out what caused these events, compare them to the LOCAL pressures and market conditions to find great ways to invest, build, and work within this market.  Good luck with your adventures and don’t forget to drop a line.  I often get too busy to visit and sometimes it is great to just catch up with folks!

 

http://wheresthebottom.wordpress.com/

Here is the link to the entire MLS market Action report.  The link at the top is active as well.

 

Rick Waible

Marketing and Operations

BLU dot Realty

www.BLUdotRealty.com

www.wheresthebottom.wordpress.com

 

o:   503-673-0258 / f:   503-673-0259

c:   503-572-2638

e:   bluric@frontier.com

 

POST
 
Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer