Portland Real estate Market Action report for June 2012

Market Action Update
This month we’ve made a
change to the Sale Price graph
on page five. In addition to the
average sales price the graph
will also now include the median
sale price. This creates a quick
visual representation of how both
measures are performing.
June Residential Highlights
Every measure of r e a l
estate activity is positive when
comparing June 2012 with June
2011.
There were 2,435 accepted
offers, 21.7% more than the 2,001
reported in June 2011 although
down slightly (-3.4%) from last
month.
The 2,244 closed sales represent
a 14.6% increase over the same
month last year, when 1,958 were
recorded, and 7.0% more than the
2,098 sales in May. This represents
the highest number of closed sales
since August 2007 when there
were 2,554 closings.
The unsold inventor y in
months dropped again in June and
continues to be the lowest it has
been since March 2007 when it was
3.8. It would take only 3.9 months
to sell the 8,799 active listings at
the June rate of sales.
Sale Prices
Home sale price measures
were all positive in June. The
median sales price rose 8.6%
when comparing June 2012 with
the same month in 2011 and 2.9%
when comparing the first two
quarters of 2012 to that period in
2011. This is the third consecutive
month in 2012 that the median
home price has risen.

Information provided by RMLS

Now might be the time to get the house ready to sell...

Portland Oregon Real Estate Market

Have you been on the fence waiting to see if the market is going to improve soon...well all signs are pointing in the right direction.  We have extremely low inventory in the greater Portland Metro Area.  Low supply increases demand and you could be in a good position to move your property.  

 Looking to Sell or Buy.  Contact me for a Market Analysis to see if its time.
Contact Me

Portland Metro Sales in May Sale Prices- RMLS Data

Home sale price measures were all positive in May. The median sales price rose 6.6% when comparing May 2012 with the same month in 2011 and 0.9% when comparing the first five months of 2012 to that period in 2011. This is the second consecutive month in 2012 that the median home price has risen.  The average sales price has also risen 7.2% when comparing the current month to the same month in 2011 and 1.1% over the comparable period so far this year.

  

Article below from Housing Wire about the overall US housing market.
 Housing Wire

U.S. home sales up 20% from last year: Data Quick

During the 30-day sales period ending July 5, approximately 211,000 homes were sold in 98 of the top 100 metropolitan statistical areas, research firm DataQuick said Thursday.

Sales overall rose 12% from the same period a year earlier and 10.6% from 2009 levels.


Home prices also went up with the median price hitting $193,000 on July 5, up 6% from a year ago and 4.3% from three years ago.
In a little over a month, the median sales price rose from $186,000 to $193,000.
The DataQuick report analyzes 66.25% of all U.S. home sales, excluding the key markets of Louisville and Wichita.