Market Update for Portland for February 2007
There were 41 active listings on the market at the end of February. 8 new listings came on the market, 7 homes went under deposit and 9 closed. The average sold price was $303,600 and the median sale price was $245,000. Home were on the market for an average of 94 days and they sold for 96.67% of their final asking price.
Compared to January the number of deposits stayed the same and the number of closed sales went up from 6 in January to 9 in February. The number of days on the market went way up from an average of 56 in January to 94 in February. The average sale price went way up this month to $303,600 compared to $257,233 in January.
Last February there were only 4 closed sales with an average price of $260,225. Again the sales were up this February as was the average sale price. Again with so few sales for this year so far, it is a little hard to make any predictions as to what the market is doing, although with the big jump in days on the market, it would indicate it is becoming a Buyers' market.
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