Sales activity in the Portland Metro area showed improvements in closed and pending sales this August compared with August 2010. Closed sales grew 30.7% in August 2011 compared to August 2010. Pending sales were up 29.6%, and new listings dropped 24.8%. Comparing July 2011 with August 2011, closed sales increased from 1,709 to 1,805 (5.6%). Pending sales also went up from 1,928 to 2,187 (13.4%). New listings went down from 2,942 to 2,879 (-2.1%). At the month’s rate of sales, the 11,276 active residential listings would last about 6.2 months.

Sale Prices

Average sale price for August 2011 declined 9.2% compared to August 2010. Median sale price also fell 10%. Month to month, comparing July 2011 to August 2011, sale price activity fell slightly. Average sale price went down from $275,100 to $271,800 (-1.2%) while median sale price decreased from $227,200 to $225,000 (-1%).

Year-to-Date

Comparing January-August 2010 with the same period in 2011, results were mixed. Closed sales decreased by 0.5% (13,185 v. 13,114), while pending sales increased by 2.8% (14,248 v. 14,645). New listings fell 26% (34,043 v. 25,189).

NORTH PORTLAND —-
Previous Month’s Average Sales Price: $246,100.
Year-to-Date Average Sales Price & Appreciation: $221,100, -4.7%.

NORTHEAST PORTLAND —-
Previous Month’s Average Sales Price: $282,900.
Year-to-Date Average Sales Price & Appreciation: $270,300, -4.4%.

SOUTHEAST PORTLAND —-
Previous Month’s Average Sales Price: $232,600.
Year-to-Date Average Sales Price & Appreciation: $213,900, -7.2%.

WEST PORTLAND —-
Previous Month’s Average Sales Price: $394,900.
Year-to-Date Average Sales Price & Appreciation: $390,300, -2.5%.

BEAVERTON —-
Previous Month’s Average Sales Price: $217,600
Year-to-Date Average Sales Price & Appreciation: $209,600, -12.5%.

Similar Posts:

• September Real Estate Update
• 2008 Portland Real Estate Report - How We Fared With The Bear
• WANNA GET A SCOOP ON THE MARKET???
• Home prices edging up in Portland area

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