It may not be the boom times of a few years ago, but the pace of sales in the Portland Metro has actually picked up quite a bit from September of last year. "Pending sales were up 34.1% and closed sales rose 9.8% compared to
September 2008." The inventory is also declining, with new listings down "14.3%".

Prices on the other hand have continued to decline, "The average sale price for September 2009 was down 8% (to 290,100 vs 315,300) compared to September 2008, while the median sale price declined 9.6% (to 241,400 vs 267,000)/

Inventory is down to an almost balanced level 13,667 listings which would take 7.6 months to sell at the current pace. 6 month is considered a balanced market.

If you would like further information or local market statistics specific to your neighborhood, please contact us.

All statistics are from RMLS Market Action, September 2009.