New Real Estate Market Report for Portland-Metro areas

The most recent Market Action Report has been published. Read Randy McCreith’s analysis and view or download the January Market Action Report.

Here is a snippet of Randy’s analysis:

For over a year now, the sales numbers for the Portland metropolitan area have continued to improve each month, although the progress is slow. Properties have not been this affordable since 2004, prices on average are at 2005 levels, and the numbers of sales continues to rise. Inventories have reduced significantly.

One year ago we began the climb out of the pit created by the financial melt-down of late 2008. Pending and closed sales have improved 25-34% since one year ago. The drop in closed sales from December and the dramatic increase in inventory since last month reflect normal seasonal activity. There was low sales activity in December and in January people put their properties on the market with the hope of selling (and buying) during this year. Continued high figures for ‘days on market’ have conditioned sellers to list their properties sooner rather than later.