Comparing this month, October 2009, to last year in October, pending sales were up 64% and closed sales rose 37.1%. The inventory is also declining, with new listings down "4.5%".

Part of what is keeping sales on track is that prices have continued to decline, "The average sale price for October 2009 was down 12.6% compared to October 2008, while the median sale price declined 10.9%."

Inventory is down to an fairly balanced level of 13,101 listings which would take 6.5 months to sell at the current pace. 6 month is considered a balanced market.

If you would like further information or local market statistics specific to your neighborhood, please contact us.

All statistics are from Portland RMLS Market Action, October 2009.

It may not be the boom times of a few years ago, but the pace of sales in the Portland Metro has actually picked up quite a bit from September of last year. "Pending sales were up 34.1% and closed sales rose 9.8% compared to
September 2008." The inventory is also declining, with new listings down "14.3%".

Prices on the other hand have continued to decline, "The average sale price for September 2009 was down 8% (to 290,100 vs 315,300) compared to September 2008, while the median sale price declined 9.6% (to 241,400 vs 267,000)/

Inventory is down to an almost balanced level 13,667 listings which would take 7.6 months to sell at the current pace. 6 month is considered a balanced market.

If you would like further information or local market statistics…

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