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%
View Portland Real Estate November REPORT
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%
Absorption Rate
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.
Additional Portland Market Reports
EBA Portland ~~ 100% BUYER REPRESENTATION ~~ 100% of the Time
EBA Portland, LLC is an Exclusive Buyer Agency serving the Metro Portland real estate market since 1999. If you’re a Buyer in the Metro Portland area (including: Beaverton, Tigard, Hillsboro, Lake Oswego, Downtown Portland,) and contemplating a purchase, talk with a Buyer’s Agent . . . better yet, talk to an Exclusive Buyers Agent. Exclusive Buyers Agents do not work for listing brokerages or Sellers. An EBA’s fiduciary duty is: 100% BUYER REPRESENTATION . . . 100% of the Time.
| Carla Muss-Jacobs 503-810-7192 Carla@carlahomes.com |
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Carla, according to the Portland Market Report, statistics show the market is getting better... prices are lower, inventory is lower, pending sales are higher and closed sales are higher and the absorbtion rate is 5.3 months. Which indicates we are finally moving out of the buyers market into a neutral market.
seeing a similar trend locally sold volume up, listing down, prices down. I hope it means some "stabilization"
Carla, We are seeing almost the exact same thing in the Seattle market, listings are extremely low. Hopeful the lack of inventory will create a price upswing.
Best
Carla -
Great graphics and a nice readable post with relevant information - job well done!
Brett
Carla, Great analysis of your mrket and real estate at the moment is looking a bit less local...
Hi Carlotta . . . what a great summation of the market!!
Hey Tammy -- we can only hope, right!!
Hi Adrian . . . well, for sellers ;-) Might get some buyers off that proverbial fence!
Hey Brett -- Thanks!
Hi Marge . . . seems like the market might be heading toward neutral for quite a few markets
Hi Carla, Excellent market report. I really like the chart. Hopefully 2012 will be a good year. I like neutral markets. I know you're a buyer's agent but in my opinion neutral markets (neither seller's or buyer's) are actually broker's markets. The field is level so good brokers can really work the market.
Carla, I love your market reports. Great graphics and colors.
Carla - People are visual creatures so I have to tell you I think the hard work you put into these fantastic graphs should prove productive for you and easy to read for your subscribers. Nicely done!