Portland Oregon Real Estate Market Report for March 2013

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Status: Pending Sale
2036 SE TAYLOR ST
619,000
4 Bedrooms
2 Bathrooms [ 1 Full, 1 Half ]
13260512
Listing Courtesy of: Brook Hogan
 
10212 N TIOGA AVE
169,000
3 Bedrooms
6 Bathrooms [ 3 Full, 3 Half ]
12435054
Listing Courtesy of: Brook Hogan
 
8510 SE 75TH AVE
195,000
5 Bedrooms
3 Bathrooms [ 2 Full, 1 Half ]
12144066
Listing Courtesy of: Brook Hogan
 
Status: Just Sold
6650 SE KNIGHT ST
219,000
3 Bedrooms
1 Bathrooms [ 1 Full ]
12605186
Listing Courtesy of: Brook Hogan
February Highlights
 
Portland’s real estate activity remains solid. February’s closed sales were strong—at 1,376, closed sales represented the best February since 2008.
Pending sales increased this month by 11.8% from January 2013, to 2,130. This represents the best February since 2007, when there were 2,834 pending sales recorded.
There were also 2,453 new listings in February. This is virtually the same as January’s 2,438 listings, and only a 1.6% decrease from February 2012.
Active inventory continues at historic lows—unsold inventory remains low at 4.5 months.
Market time also remains low. At 116 days, February’s total market time is about the same as it was in January, at 114 days.
 
Average and Median Sale Prices
 
The average sale price in February was $282,000, and the median sale price was $242,000.
Prices are on the rise in Portland Metro. Comparing the average price of homes in the twelve months ending February 28th of this year ($278,600) with the average price of homes sold in the twelve months ending February 2012 ($263,300) shows an increase of 5.8%. In the same comparison, the median has increased 8.5% to $238,500 in the last twelve months from $219,900 in the preceding twelve months.

 

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