Year over year, this November 2009 was a very busy month for real estate when compared to last year. Closed sales were up 72.4% which is the largest percentage increase on record for this area. However, the seasonal trend is still downward with sales down 10.7% from last month of October, 2009.
Average prices are down 11.4% compared to November of last year and 3.6% compared to last month. Residential inventory for the Portland metro area is 12,697 which would take 7.1 months to sell at the current rate.
It would seem that prices are still on a downward trend but the pace of real estate activity has somewhat stabilized.
If you would like further information or local market statistics specific to your neighborhood, please contact us.