Active Rain Nationwide Realtor Survey -- Metro Portland Market
CLICK HERE -- For CURRENT MARKET ACTIVITY in the PORTLAND METRO AREA -- CLICK HERE
Metro Portland Market
CLICK TO READ FULL BLOG POST: WEEK ENDING 5/9/10
CLICK TO READ FULL BLOG POST: WEEK ENDING 5/2/10
Homes are selling, buyers are buying . . . moderate to brisk in some areas. But showings are DOWN for the past, two consecutive weeks. There is an average year-to-date reduction in sold prices in all markets in Metro Portland. For the various areas of Metro Portland:
- N Portland: -7.9%
- NE Portland: -10.4%
- SE Portland: -10.5%
- Gresham/Troutdale: -12.5%
- Milwaukie/Clackamas: -9.6%
- Oregon City/Canby: -11.6%
- West Linn/Lake Oswego: -8.1%
- W Portland: -11.4%
- Beaverton/Aloha: -10%
- Tigard/Wilsonville: -8.2%
- Hillsboro/Forest Grove: -9.7%
We currently have an 7.3 months inventory.
For market time averages (compared year-to-date): Down 8.8%. In 2009 the average market time as 152 days, compared to 2010, 138 days.
While the buyers may have been out, in the past two weeks, showings have dropped. Our market is, truly, a mixed bag. In the right location and price, homes sell. If not . . . they linger. The apprasials are not too far off list, but buyers have to endure a much tighter underwriters' scrunity. The condo market is not officially dead, but very hard for buyer with a low purchase dollar to buy a starter condo. Reason: FHA guidelines on approved condo complexes. Some HOA's didn't get that memo, apparently, and didn't get "certified."
CLICK HERE -- For CURRENT MARKET ACTIVITY in the PORTLAND METRO AREA -- CLICK HERE
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