Sales activity in the Portland metro area showed marked improvement this December compared to the same month a year ago.
Closed sales were up 52.6% compared to December 2008 and pending sales rose 40.9%. New listings also rose 11.9%. On the other hand, compared to November 2009, closed sales fell 16.1% (1,506 v. 1,795). Pending sales dropped 14.1% (1,141 v.1,328). New listings fell 15.8% (2,104 v. 2,499).
At the month’s rate of sales, it would take approximately 7.7 months to sell the 11,597 active residential listings.
2009 Summary
Comparing activity from 2009 with that of 2008, pending sales increased 4%. Closed sales were 0.9% short of the 2008 total. New listings fell 18.8%.
Comparing activity from 2009 with that of 2008, pending sales increased 4%. Closed sales were 0.9% short of the 2008 total. New listings fell 18.8%.
Total sales volume for 2009 was $5.5 billion, down from $6.3 billion in 2008, and $9.7 billion in 2007.
Sale Prices
The average sale price for December 2009 was down 2.5% compared to December 2008, while the median sale price declined 4.2%. Compared to November 2009, the average price rose 7.3%($293,300 v. $273,300) and the median grew 1.3% ($242,200 v. $239,000).
The average sale price for December 2009 was down 2.5% compared to December 2008, while the median sale price declined 4.2%. Compared to November 2009, the average price rose 7.3%($293,300 v. $273,300) and the median grew 1.3% ($242,200 v. $239,000).
For the year, the average sale price dropped 12.2% compared to 2008. The median price fell 11.2%.
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