Market Statistics for March 2010 in the Portland Metro

Posted by Gerry Mains - Managing Broker on Wednesday, December 8th, 2010 at 10:34am.

March Residential Highlights

Sales activity in the Portland metropolitan area continues to improve in March 2010 compared to the same month a year ago. When comparing March 2010 with March 2009, closed sales rose 51.9%. Pending sales jumped 46.7% and new listings increased 35.3%. Comparing March 2010 with the previous month, February 2010, closed sales drastically increased 77.2% (1,799 v. 1,015) and pending sales grew 29.8% (2,402 v. 1,850). New listings increased 27.8% (4,987 v. 3,902). At the month’s rate of sales, the 14,042 active residential listings would last approximately 7.8 months, the lowest of the year.

Sale Prices

The average sale price for March 2010 fell 5.6% compared to March 2009. The median sale price dropped 3%. See residential highlights table below. On a month-to-month basis, comparing March 2010 to February 2010, the average price increased 2.6% ($280,300 v. $273,100) and the median price grew a slight 1.6% ($238,900 v. $235,000).

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Courtesy of RMLS.

 

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