Portland Metro March Market update

Market Activity in the Portland Metro Area seems to have slowed down when comparing March 2007 with March 2006. New listings increased nearly 24% in the past month, while accepted and closed sales dropped by 9.7% and 23% respectively.

The 10,557 active residential listings at the end of March would last approximately 4.9 months at the month’s rate of sales.

FIRST QUARTERS/YEAR-TO-DATE

When comparing market activity through March 2007 to the same time in 2006, the first quarter appears to be off to a slow start. The number of closed sales decreased 6.2%. Pending sales also dropped 4.8%. However, new listings have jumped 20.3%.

APPRECIATION

The average and median sale prices for the twelve months that ended with March 2007 are compared to the prices for the twelve months ending in March 2006. Using those time periods, the average sale price appreciated 12.2% ($327,800 v. $292,100). Using the same date range to compare median sale price we see a 12.4% appreciation rate ($275,500 v. $245,000).


NORTH PORTLAND ----
Previous Month's Average Sales Price: $262,800.
Year-to-Date Average Sales Price & Appreciation: $258,000, 13.9%.

NORTHEAST PORTLAND ----
Previous Month's Average Sales Price: $324,800.
Year-to-Date Average Sales Price & Appreciation: $304,400, 11.5%.

SOUTHEAST PORTLAND ----
Previous Month's Average Sales Price: $283,900.
Year-to-Date Average Sales Price & Appreciation: $278,000, 14.7%.

WEST PORTLAND ----
Previous Month's Average Sales Price: $457,000.
Year-to-Date Average Sales Price & Appreciation: $431,100, 8.2%.

BEAVERTON ----
Previous Month's Average Sales Price: $252,200
Year-to-Date Average Sales Price & Appreciation: $288,200, 9.7%.

TIGARD, TUALATIN, SHERWOOD ----
Previous Month's Average Sales Price: $384,700
Year-to-Date Average Sales Price & Appreciation: $378,200, 6.2%.


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*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.