Market Statistics for August 2011 in the Portland Metro

Posted by Gerry Mains - Managing Broker on Monday, November 7th, 2011 at 11:59am.

August Residential Highlights

Sales activity in the Portland Metro area showed improvements in closed and pending sales this August compared with August 2010. (Please see “NOTE” below about increased pending sales.)Closed sales grew 30.7% in August 2011 compared to August 2010. Pending sales were up 29.6%, and new listings dropped 24.8%. See residential highlights table below.Comparing July 2011 with August 2011, closed sales increased from 1,709 to 1,805 (5.6%). Pending sales also went up from 1,928 to 2,187 (13.4%). New listings went down from 2,942 to 2,879 (-2.1%).At the month’s rate of sales, the 11,276 active residential listings would last about 6.2 months.

Sale Prices

Average sale price for August 2011 declined 9.2% compared to August 2010. Median sale price also fell 10%. See residential highlights table below.Month to month, comparing July 2011 to August 2011, sale price activity fell slightly. Average sale price went down from $275,100 to $271,800 (-1.2%) while median sale price decreased from $227,200 to $225,000 (-1%).


Comparing January-August 2010 with the same period in 2011, results were mixed. Closed sales decreased by 0.5% (13,185 v. 13,114), while pending sales increased by 2.8% (14,248 v. 14,645). New listings fell 26% (34,043 v. 25,189).

Click here for more details.

Data courtesy of RMLS.

Be the first to comment on this blog entry!

Leave a Comment

My Account

| Forgotten It?

Recent Blog Posts


Oregon Is The Number One State To Move To In 2013

Oregon was the top destination to move to in 2013. United Van Lines, the nation’s largest household moving company, released its 37th annual migration study t...

9 Comments Read More


Distressed Sales Drop From 28.6% to 15.1%

2013 was a year of significant improvements for the Portland real estate market. The number of distressed sales, otherwise known as bank owned or short sales, h...

3 Comments Read More


Portland #1 For Best US Cities For People 35 and Under

The city of Portland has enjoyed a long list of kudos and awards for the many things that make this city a great place to live. Today we won another award, thou...

6 Comments Read More

We're always on the lookout for talented real estate agents to join our growing team.

We offer cutting edge technology and some of the most competitive commission splits available.

Email Bookmark and Share