Monday, August 20, 2012

Summer is in full swing!  Hopefully you’re outside enjoying the warm weather.

Click Here for some Portland Real Estate Statistics produced by our Multiple Listing Service.     

Home sales in the Portland Area continue to improve.  Every measure of real estate activity is positive when comparing July 2012 to the prior year.  The number of homes sold this past month had increased 15% and the median sales price increased 7.8% (see the Average and Median Sale Price Graph below).  

The number of homes placed up for sale continues to be the lowest inventory since July 2006.  It would take just 4.6 months to sell the 9,041 active listings – substantially less than the 19.2 months of inventory we had in Portland in 2009.  Buyer’s have re-entered the market taking advantage of affordable pricing and low interest rates. 

The average market time to sell a home in the Portland Area is currently 100 days – a decrease of 25% from this time last year.

Homes are affordable and there are great investor opportunities.  First-time buyers can find quality homes priced around $200,000.  Higher-end homes are affordable to middle-income wage earners.  And, Mortgage Interest Rates are still hovering 4%!

Do you know someone looking to buy or sell a home? 

Please have them call me at 503-784-7626.