February Residential Highlights
While there were fewer active and new listings on the market, sales activity in Metro Portland showed an improvement in both pending and closed sales in February 2012. Also notable in February was a decrease in inventory, down from 7.0 last month and the lowest February inventory since 2007. Closed Sales were up 17.5% in February 2012 compared to February 2011. Pending sales grew 32.5%, and new listings dropped 13.6%. Comparing the previous month of January 2012 with February 2012, closed sales grew from 1,224 to 1,262 (3.1%). Pending sales also increased from 1,823 to 2,109 (15.7%). New listings dropped from 2,613 to 2,492 (-4.6%). Sale Prices Average sale price for February 2012 rose 4.3% compared to February 2011. Median sale price fell 1.3%. Month to month, comparing January 2012 to February 2012, average sale price went up from $249,100 to $255,100 (2.4%) and the median sale price rose from $207,500 to $211,000 (1.7%). Year-to-Date Comparing January-February 2012 with the same period in 2011 shows closed sales increased 17.9%. Pending sales were up 26.3%, and new listings decreased by 15%. A comparison of year-to-date totals between 2012 and 2011 shows average sales price rose 1.8% and median sale price decreased 2.3%.
Data Provided by RMLS
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