We are all over the nation...so it probably hard to keep up. Here's a summary for the Portland Metro Area. What's yours looking like?
July Residential Highlights
A steady increase in new listings, along with a decrease in the number of transactions led to a rise in Inventory in the Portland Metro area.
Given the month's rate of sales (2,624) the July inventory of 14,831 active residential properties would last 5.7 months. The number of active listings grew 55%; there were only 9,555 active listings at the same time last year.
New listings continued to grow at 9.9%. Closed sales and pending sales dropped 3.3% and 14%, respectively.
Appreciation
Using the average and median sale prices for the twelve months that ended with July 2007 compared to the twelve months ending in July 2006, the average sale price appreciated 8.1% ($335,100 v. $310,100). Using the same formula, the median sale price appreciated 8.7% ($282,500 v. $260,000).
Residential Market Highlights
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