A comparison of sales activity in the Portland metro area in August 2010 with August 2009, shows that closed sales decreased 25%. Pending sales also dropped 21.7%, while new listings rose 1.3%. See residential highlights table below. On a month-to-month basis, when comparing August 2010 to July 2010, closed sales fell 2.2% (1,381 v. 1,412), while pending sales grew 3.6% (1,688 v. 1,629). New listings also fell 5% (3,829 v. 4,029). At the month’s rate of sales, the 15,200 active residential listings would last approximately 11 months.
The average sale price for August 2010 inc reas ed 1% compared to August 2009, while the median sale price stayed the same. See residential highlights table below. When comparing August 2010 to the month prior, July 2010, the average sale price increased 0.8% ($299,300 v. $297,000) and the median sale price also went up 1.6% ($250,000 v. $246,000).