Portland Home Sale Prices to Show September Dip

My early review of September’s sales results* for the Portland metro real estate market reveals a marked dip in the median sale price when compared to the previous several months.

September will register a ~$242,500 median price result–about 3% lower than the ~$250,000 level that’s been the norm throughout most of 2009. The average home price was ~$291,800–off 1.5% from August.

The sale price decline may be attributed to the emphasis on purchases of entry-level homes fueled by the $8,000 tax credit.

The pace of sales is slowing. About 1,755 homes closed escrow in the month, down nearly 5% from August.

* Official RMLS-compiled results will appear around the 15th of the month.

October 8, 2009 · Filed Under Market Activity

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