Market Statistics for February 2010 in the Portland Metro

Posted by Gerry Mains - Managing Broker on Wednesday, December 8th, 2010 at 10:31am.

February Residential Highlights

Sales activity in the Portland metro area improved in February 2010 compared to the same month a year ago.

Comparing February 2010 with February 2009, closed sales increased 18.4%. Pending sales also jumped 45%, and new listings rose 12.4%.

When comparing February 2010 with the month prior, January 2010, closed sales grew a slight 2.9% (1,015 v. 986) and pending sales were up 20.5% (1,850 v. 1,535). New listings, on the other hand, dropped just 1% (3,902 v. 3,937).

At the month’s rate of sales, the 13,101 active residential listings would last approximately 12.9 months.

Sale Prices

The average sale price for February 2010 was down 8.5% compared to February 2009, while the median sale price declined 9.3%.

Month-to-month, the average price decreased 3.3% ($273,100 v. $282,400) and the median fell 2.1% ($235,000 v. $240,000), when comparing February 2010 to January 2010.

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Courtesy of RMLS.

 

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