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.
Portland Oregon Market Report
June Residential Highlights
While closed sales were down in June 2011 compared with June 2010, pending sales jumped compared with the same month a year ago, and inventory hit the lowest level since July 2007. Closed sales were down 2.7% in June 2011 compared to June 2010. Pending sales were up 23.7%, and new listings dropped 22.4%. Comparing May 2011 with June 2011, closed sales increased from 1,742 to 1,958 (12.4%). Pending sales decreased from 2,167 to 2,001 (-7.7%). New listings went down from 3,338 to 3,143 (-5.8%). At the month’s rate of sales, the 11,817 active residential listings would last about 6 months, a drop of 1.3 months since the inventory level in June 2010.
Sale Prices
Average sale price for June 2011 declined 7.8% compared to June 2010. Median sale price also fell 7.1%. Month to month, comparing May 2011 to June 2011, sale price activity rose slightly. Average sale price went up from $262,400 to $267,100 (1.8%) while median sale price increased from $220,000 to $222,900 (1.3%).
Second Quarter Report
Comparing the second quarter of 2010 with the same period in 2011, sales activity was mixed. Closed sales decreased by 11.8% (6,191 v. 5,462). Pending sales went up by 2.3% (5,842 v. 5,978), and new listings fell 21.6% (12,456 v. 9,761). Additionally, the average sale price fell 6.1% ($282,300 v. $265,200), and the median sale price dropped 8.3% ($240,000 v. $220,000).
PLEASE CHECK OUT OUR WEBSITE http//:www.TonyandLibby.com
Home Equity Improves
A home has negative equity when it is worth less than the outstanding mortgage. The number of homes that fit this description has fallen slightly. 27.2 percent had negative or near-negative equity in the first quarter of this year. It was 27.7 percent of homes at the end of 2010.
Near-negative equity is when a home has less than 5 percent equity and therefore would be a wash once you factor in fees associated with selling a house.
17.2 percent of homes in Oregon have negative equity and 5.8 percent are near-negative. In Washington 16.9 percent are negative and 5.8 percent are near-negative.
The average negative equity home is worth $65,000 less than the mortgage owed.
PLEASE CHECK OUT OUR WEBSITE http//:www.TonyandLibby.com
Best Beer City
It comes as a surprise to no one, that Portland, Oregon was voted the best beer city in the United States! Travel and Leisure readers spoke up and let everyone know that we’ve got what they want. 35 cities were rated on things like restaurants, bar scenes and weather. Naturally Portland won the microbrew beer category which is a sign that microbrews and quirky flavors are becoming mainstream.
Less importantly, Portland, Oregon also won in categories of Summer, Environmental Friendliness, Public Parks and Outdoor Access, and Public Transportation and Padestrian Friendliness.
http://www.travelandleisure.com/articles/americas-best-beer-cities
http://www.travelandleisure.com/americas-favorite-cities/2010/city/portland-or
PLEASE CHECK OUT OUR WEBSITE http//:www.TonyandLibby.com
Agency Info
Keller Williams Realty Portland Premiere
17700 SW Upper Boones Ferry Rd
Portland, OR 97224