April Residential Highlights
Sales activity in the Portland metro area improved in April 2010 compared to the same month a year ago. Comparing April 2010 with April 2009, closed sales increased 49.1%. Pending sales also jumped 60.8%, and new listings rose 23.8%. When comparing April 2010 with the month prior, March 2010, closed sales grew 7.9% (1,941 v. 1,799) and pending sales were up 24.5% (2,991 v. 2,402). New listings, on the other hand, dropped 5.5% (4,713 v. 4,987). At the month’s rate of sales, the 14,182 active residential listings would last approximately 7.3 months, the lowest of the year so far.
The average sale price for April 2010 decreased 3.1% compared to April 2009, while the median sale price went down 4%. Month-to-month, there were minimal changes in prices. The average sale price rose just 0.6% ($282,100 v. $280,300) and the median sale price went up 0.5% ($240,000 v. $238,900), when comparing April 2010 to March 2010.
Courtesy of RMLS.