RMLS Portland Real Estate Market Statistics for March 2010

(April 17, 2010 • Portland Real Estate Market • 0 comments)

The latest RMLS statistics detailing Pending and Closed sales in the Portland metro market is very encouraging. Spring has definately sparked the buying and selling of homes.

The great news is that there is only 7.8 months of inventory on the market at this time. 

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March Residential Highlights

Sales activity in the Portland metropolitan area continues to improve in March 2010 compared to the same month a year ago.

When comparing March 2010 with March 2009, closed sales rose 51.9%. Pending sales jumped 46.7% and new listings increased 35.3%.

Comparing March 2010 with the previous month, February 2010, closed sales drastically increased
77.2% (1,799 v. 1,015) and pending sales grew 29.8% (2,402 v. 1,850).

New listings increased 27.8% (4,987v. 3,902).

At the month’s rate of sales, the 14,042 active residential listings would last approximately 7.8 months, the lowest of the year.

Sale Prices

The average sale price for March 2010 fell 5.6% compared to March 2009. The median sale price dropped 3%. See residential highlights table below.

On a month-to-month basis, comparing March 2010 to February 2010, the average price increased 2.6% ($280,300 v. $273,100) and the median price grew a slight 1.6% ($238,900 v. $235,000).

For more information on Real Estate in Portland please contact LaDonna Miller-Broker with Oregon First Real Estate (503) 310-9076 or ladonnamiller@earthlink.net