How Was the Portland Real Estate Market This Year?
It used to be that we'd say "I wish I had a dollar every time . . . " Now with inflation I wish I had $10 every time someone asks me "how was the Portland real estate market this year?"
The year started out slow, with the first two months showing only about 1,000 properties closed for both January and February.
What Where The Strongest Months in the Portland Real Estate Market 2011?
June seemed to be the strongest month for monthly solds. 1958 properties closed in the Metro Portland Market which correlates to the absorption rate for that month at 6 months supply of inventory.
May and August 2011 were strong months for PENDING sales in the Portland real estate market.
With May 2011 have strong pendings, there's no wonder June showed strength in closed sales. However, it didn't hold try with August pendings to September solds.
Listing Inventory DOWN in Portland
New listings to the Portland Real Estate Market were the strongest in May and then steadily dropped off the remainder of the year. I wrote an article about this in October 2011 Portland Real Estate Inventory Down.
Additional Portland Market Reports
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| Carla Muss-Jacobs 503-810-7192 Carla@carlahomes.com |
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Ok it was quite a year. Hope it continues to get better.
Hi Carla, always enjoy reading figures and graphs from other locations....thanks for sharing.
Well, missy~there it is in black and white...and blue and purple and yellow and GREEN....nice chart--very easy to read. I find it interesting that August was the best for Pending, but June was the best for SOLD. Hmmmm.....
Carla, The Portland market looks and sounds promising no doubt. Excellent charting and description but then again it is Carla Muss-Jacobs. Nice work!
Carla, nice price points on the homes, I like to see how the market is doing with these local market reports. the charts are user friendly.
Fewer new listings should help stabilize the market, however it will be interesting to see if a ton of new listings come on the market in the spring (especially re-lists). Great report!
That amount of inventory sounds good for the well positioned Seller. With the reduction in new listings, I wonder like #6, if there's some pent up potential waiting to be released for sale.
Sales are up, inventory is down.
Both are necessary pre-requisites for a turnaround in price.