Portland Real Estate | Market Report Dec 2011
This is a Portland Real Estate Market overview for the month of December 2011.
The market seems to be doing fine. But what this graph indicates is the pattern of listings . . . which are down for the month. Matter of fact, listings have been off about 25% from last year starting in June 2011 and continuing to drop the remainder of the year.
Last month's report, Portand Real Estate Market report for November compared the new listings, pending sales and closed sales and indicated a drop of new listings for the month of November being down -18.1%
What This Means for December 2010 vs. December 2011 MEDIAN Sales Prices?
Keeping with the <$18,400> difference between December 2011 vs. December 2010 the MEDIAN SALES PRICE in the Metro Portland Housing Market has also slipped:
December 2010 - Median Sales Price: $230,000
December 2011 - Median Sales Price: $216,600
The Median Sales Price in the Metro Portland Housing Market in December 2011: DOWN -5.8%
What the Numbers Say:
- New Listings - DOWN -11.7%
- Pending Sales - UP 19.3%
- Closed Sales - UP 10.3%
The absorportion rate of Portland real estate indicates 5.3 months of inventory in December
- Sellers Market: 1 to 5 months supply of homes
- Neutral Market: 5 to 6+ months supply of homes
- Buyers Market: More than 6 or 7 months’ supply of homes
Listings DOWN -11.7% in the Metro Portland Housing Market
Again, this is based on December 2010 compared to CURRENT December 2011. What this tells me is that:
- Sellers are NOT listing their property
- Sellers are NOT selling and moving-up
- Buyers ARE out
- Buyers ARE closing transactions
- Buyers ARE not pushing pricing upwards
Portland Real Estate Market Time is Holding Steady
For both December 2010 and December 2011 the Average Days on the Portland Real Estate Market is: Approximately 145 days Median: Median is a mathematical result that indicates that one half of the group is higher and one half lower. Average: All sold prices are added together into a sum, the sum is then divided by the number of houses that sold.