June Portland Residential Real Estate Recap
All residential real estate indicators were positive in June 2012 when comparing them with a year ago. There were 2,435 accepted offers, 21.7% more than reported in June 2011, although down slightly (-3.4%) from last month.
The 2,244 closed sales represent a 14.6% increase over the same month last year, when 1,958 were recorded, and 7.0% more than the 2,098 sales in May. This represents the highest number of closed sales since August 2007 when there were 2,554 closings.
The unsold inventory in months dropped again in June and continues to be the lowest it has been since March 2007 when it was 3.8. It would take only 3.9 months to sell the 8,799 active listings at the June rate of sales.
Home sale price…