Home Buying in Portland>Question Details

Jon, Home Buyer in Milwaukie, OR

What is the percentage of houses selling in the portland, metro politan area?

Asked by Jon, Milwaukie, OR Tue Jun 15, 2010

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The new RMLS Market Action statistics just came out for May 2010. It takes 7 months on average to sell a home in the Portland Metro - so 14.28% a month.
1 vote Thank Flag Link Tue Jun 15, 2010
Jon,

Currently there are 13022 active listings; for May there were 3186 new listings added and 1938 listings sold. The percentage is a moving target. If no other listings came on the market we would have 7 months of inventory at the current sale level.
0 votes Thank Flag Link Tue Jun 15, 2010
the April 2010 RLMS report shows that 13.7% of the houses on the market sold. that report can be found here (http://www.rmlsweb.com/v2/public2/loadfile.asp?id=5334) - One thing to consider is that a recent Portland Tribune article found that 1/6 of the homes sold were REO - or homes that had been previously foreclosed upon and were being sold by the bank. That article is here (http://portlandtribune.com/news/story.php?story_id=127611512…)

The conclusion I would then draw is that the RLMS numbers show closed sales that do not represent actual homes sold. Don't quote me on this, but I would think that the numbers are closer to 11% based on the active residential listings.
0 votes Thank Flag Link Tue Jun 15, 2010
Percentage compared to what? Of all listed? of all existing dwellings? Please elaborate
0 votes Thank Flag Link Tue Jun 15, 2010
There is not a standard commission structure setup. The total commission includes the BAC (Buyer's agent commission) and Listing agent commission. Some companies offer a flat fee service, limited representation, etc. Please make sure you ask questions during the listing presentation.

Tim
0 votes Thank Flag Link Tue Jun 15, 2010
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