December 2009 was much busier than December, 2008, with closed sales up 52.6% and only a slight decline of 4.2% in median prices. However, prices rose slightly when compared to November, 2009, with median prices up 1.3% in December. Inventory levels hovered at an almost stable supploy of 7.7 months of 11,597 active listings.
Looking back over the year, 2009 average sale prices dropped 12.2% compared to 2008 and median prices dropped 11.2%. Total sales volume for 2009 also dropped to $5.5 billion, down from $6.3 billion in 2008. It certainly was not an easy year for real estate.
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, December 2009.