New Portland Area Market Stats
Our multiple listing service just released the most recent market stats for March 2011. Just as our office has been seeing a marked increase in activity, the region has also been doing more real estate business.
Both closed sales and pending sales are up from February 2011. Comparing March 2011 to February 2011, closed sales jumped a whopping 50.4% while pending sales rose 26.5%. Spring is the begining of our busy season and these numbers back that up. My buyer clients have been bemoaning the lack of new inventory on the market. It seems like they just don’t have that much to choose from. They are right. There are fewer houses on the market than there have been since May 2010, with only 7.1 months of inventory. Since January 2009 we’ve only seen inventory this low twice. And in January 2009, our inventory was at 19.2 months!
Year to year, the numbers are down. Closed sales are down 10.2% from March 2010 to March 2011. Pending sales for the same comparison are down 16.2%. I am not surprised by this as last spring we were staring down the end of the homebuyer tax credit. This created a bit of an artificial bump in real estate business.
Click here for a link to the Portland area report from RMLS.
Tags: Portland Home Prices, Portland housing market, portland housing prices, portland real estate
Both closed sales and pending sales are up from February 2011. Comparing March 2011 to February 2011, closed sales jumped a whopping 50.4% while pending sales rose 26.5%. Spring is the begining of our busy season and these numbers back that up. My buyer clients have been bemoaning the lack of new inventory on the market. It seems like they just don’t have that much to choose from. They are right. There are fewer houses on the market than there have been since May 2010, with only 7.1 months of inventory. Since January 2009 we’ve only seen inventory this low twice. And in January 2009, our inventory was at 19.2 months!
Year to year, the numbers are down. Closed sales are down 10.2% from March 2010 to March 2011. Pending sales for the same comparison are down 16.2%. I am not surprised by this as last spring we were staring down the end of the homebuyer tax credit. This created a bit of an artificial bump in real estate business.
Click here for a link to the Portland area report from RMLS.
Tags: Portland Home Prices, Portland housing market, portland housing prices, portland real estate
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