Portland Metro February Market update

Portland Metro Review

NORTH PORTLAND ----
Previous Month's Average Sales Price: $264,600.
Year-to-Date Average Sales Price & Appreciation: $261,800, 15.9%.

NORTHEAST PORTLAND ----
Previous Month's Average Sales Price: $319,300.
Year-to-Date Average Sales Price & Appreciation: $301,600, 13.3%.

SOUTHEAST PORTLAND ----
Previous Month's Average Sales Price: $271,100.
Year-to-Date Average Sales Price & Appreciation: $265,700, 14.5%.

WEST PORTLAND ----
Previous Month's Average Sales Price: $419,700.
Year-to-Date Average Sales Price & Appreciation: $405,300, 7.0%.

TIGARD, TUALATIN, SHERWOOD ----
Previous Month's Average Sales Price: $385,600.
Year-to-Date Average Sales Price & Appreciation: $378,600 8.0%.

BEAVERTON ----
Previous Month's Average Sales Price: $285,300
Year-to-Date Average Sales Price & Appreciation: $281,400, 11.2%.

February 2007 seems to follow the same trend we've seen for the last few months with new listings up and pending and closed sales down. However, pending only dipped slightly when compared to the same time last year. Further inventory is down compared to last month. The 9,901 active residential listings at the end of February would last approximately 5.2 months at the month's rate of sales. When compared with the month of February 2007, the number of new listings increased 22.3%. Closed sales decreased 6.8% and pending sales fell 0.4%.

Year to Date

When comparing market activity for January-February 2007 to the same time in 2006 we see that the number of new listings are up 18.9%. On the other hand the number of closed sales decreased 7.9%. Pending sales were also down a slight 1.3%.

Appreciation

To calculate sale price appreciation, the average and median sale prices for the twelve months that ended with February 2007 are compared to the prices for the twelve months ending in February 2006. Using those time periods, the average sale price appreciated 12.8% ($325,100 v. $288,300). Using the same date range to compare median sale price we see a 13.6% appreciation rate ($274,900 v. $241,900).



*The information above is from the monthly market action report produced by RMLS and used by permission of RMLS. This information is copyrighted by RMLS, All Rights Reserved.