November Portland OR Market Report

November Residential Highlights

Similar to last month, sales activity in the Portland Metro area showed improvements in closed and pending sales this November 2011 compared with November of last year. Closed sales went up 18.9% in November 2011 compared to November 2010. Pending sales rose 18.2%, while there were 18.1% less newly listed residential properties. A month-to-month comparison of the previous month of October 2011 with November 2011, shows closed sales rose 3.2% from 1,474 to 1,521. Pending sales fell 10.3% from 1,878 to 1,685. New listings were down from 2,433 to 2,026 (-16.7%). At November’s rate of sales, the 9,451 active residential listings would last about 6.2 months. Interestingly, this is the lowest active listing count in the last three years.

Sale Prices

The average sale price in November 2011 fell 4.6% when compared to November 2010. The median sale price also was down by 3.4%. Prices increased when comparing November 2011 to the previous month of October 2011. Average sale price went up from $258,700 to $259,400 (0.3%), while median sale price rose by 3.3% from $217,800 to $225,000.

Year-to-Date

A comparison of January- November 2011 with the same period last year shows improvements in closed and pending sales. Closed sales increased 3.4% (17,385 v. 17,968) and pending sales rose 5.3% (18,436 v. 19,411). New listings, however, saw a decline of 26.0%, falling from 43,658 to 32,315.

 

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December 23, 2011 · Filed Under Alberta Arts District, beaverton or homes, beaverton or homes for sale, Beaverton real estate, existing home sales, hgtv, house hunters, Lake Oswego real estate, Local, median home prices nationwide, New Home Sales, Portland, Portland Real Estate, portland real estates, real estate beaverton or, Real Estate Portland, Realty News, Tigard Real Estate News, Tigard Real Estate Review

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  • Agency Info

    Keller Williams Realty Portland Premiere

    17700 SW Upper Boones Ferry Rd
    Portland, OR 97224

  • Agent Info

    Tony and Libby Kelly, MBA, M.Ed.

    Principal Broker & Broker

    503-753-7300