Market Statistics for May 2010 in the Portland Metro

Posted by Gerry Mains - Managing Broker on Wednesday, December 8th, 2010 at 10:38am.

May Residential Highlights

When comparing sales activity in the Portland metro area in May 2010 to the same time last year, May 2009, closed sales increased 43.7%. Pending sales and new listings both decreased by 24.1% and 10.2%, respectively. On a month-to-month basis, when comparing May 2010 to April 2010, closed sales grew 5.6% (2,050 v. 1,941) while pending sales fell 50.1% (1,493 v. 2,991). New listings also dropped 26.2% (3,482 v. 4,713). At the month’s rate of sales, the 14,372 active residential listings would last approximately 7 months, the lowest inventory has been since August 2007 October 2009.

Sale Prices

The average sale price for May 2010 decreased 5.5% compared to May 2009, while the median sale price also went down 4.4%. See residential highlights table below. When comparing May 2010 to the month prior, April 2010, the average sale price fell 2.3% ($275,500 v. $282,100) and the median sale price decreased slightly by 0.4% ($239,000 v. $240,000).

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Courtesy of RMLS.

 

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