Portland Oregon Market Report September

Real Estate Agent with Keller Williams Realty Portland Premiere

September Residential Highlights


Sales activity in the Portland Metro area showed improvements in closed and pending sales this September compared with September 2010, and the inventory level remained much lower than the same month in 2010. Closed sales grew 13.4% in September 2011 compared to September 2010. Pending sales were also up 17.5%, and new listings dropped 29.5%. Comparing the previous month of August 2011 with September 2011, closed sales decreased from 1,805 to 1,586 (-12.1%). Pending sales also went down from 2,187 to 1,861 (-14.9%). New listings fell from 2,879 to 2,501 (-13.1%). At the month’s rate of sales, the 10,666 active residential listings would last about 6.7 months.


Sale Prices


Average sale price for September 2011 declined 4.2% compared to September 2010. Median sale price also fell 3.8%. Month to month, comparing August 2011 to September 2011, sale price activity was mixed. Average sale price went down from $271,800 to $268,200 (-1.3%) while median sale price increased from $225,000 to $230,800 (2.6%).


Third Quarter Report


Comparing the third quarter of 2010 with that of 2011, sales activity was up. Closed sales jumped up by 21.5% (4,340 v. 5,275), while pending sales also increased by 21.6% (4,725 v. 5,747). New listings fell 27.6% (11,582 v. 8,380). In the same quarterly comparison, average sale price fell 6.9%, while median sale price dropped 7.5%.

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Comments (2)

Daniel J. Brudnok, REALTOR
Berkshire Hathaway Home Services Fox & Roach, REALTORS - Exton - PA License #RS-225179-L / Delaware License #RS-0025038 - Downingtown, PA

Tony and Libby,

I love hearing the shared good news throughout the markets.....thanks.

Oct 19, 2011 08:36 AM
Margaret Oscilia
Creative Concepts-Home Staging and Contracting, Salem Oregon - Salem, OR
Home Stager, Salem Oregon

I heard that the last quarter for the Portland area was also strong and that some areas showed a slight sales price increase -- sounds like a great way to start a new year with a stronger market and low interest rates!  

Jan 02, 2012 01:59 AM