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%.
PLEASE CHECK OUT OUR NEW PODCAST ON THE HOMEPAGE OF OUR WEBSITE www.TonyandLibby.com
& OUR NEW PORTLAND METRO BLOG AT www.TonyandLibby.blogspot.com (make sure you leave comments)
*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.


Agent Profile
Tony and Libby Kelly, MBA, M.Ed. are ranked in the top 1% of REALTORS in Portland Metro. They have been featured on HGTV's "House Hunters" 3 Episodes & "My House is Worth What?" 4 Episodes. 
Recent Blog Posts
I have been driving by this place for YEARS and have not got around to trying it. I have always wanted to because the line to get in is so long, but have not because the line to get in is so long. One of these days I’m going to get up [...]
Portland, Oregon city council is demanding a ban on single-use plastic bags at the grocery store. So much so that they passed a city resolution Wednesday stating that Portland will ban plastic bags sometime in the future if state lawmakers fail to pass a statewide ban next year.
A city resolution [...]
Portland, Oregon has 2,241,841 residents and 21.9% of those are from Generation Y. Some of the top employers include Intel, Fred Meyer Stores, Oregon Health & Science University, Providence Health Systems, Kaiser Foundation Health Plan of the NW, city government and Legacy Health System. These are just some of the reasons that Portland, [...] 