-
Your Host
re:PDX is written by Ron Ares, broker and market analyst affiliated with M Realty LLC in Portland, Oregon.
Phone: 503-460-7992
Follow Along
Subscribe in a reader
Portland Real Estate Market Activity – December 2009 Results
December 2009 certainly beat the tar out of December 2008 when it came to sales volume. Poor weather and economic uncertainty keep buyers out of the market a year ago, but 2009 closed with a reasonable amount of activity — 1,506 homes sold vs. 987 homes in December 2008.
The year ended with a 12-month average sale price of $289,900 and a median price of $247,000. These results were 12% and 11% lower than the 2008 12-month marks.
The Portland metro market closed a nearly identical number of properties (18,955) compared to 2008 (19,132), but due to declining sale prices, the sales volume was down to $5.5 billion vs. $6.3 billion in 2008.
Here are the numbers for December 2009:
Market Summary
| December 2009 |
November 2009 |
Last Year December 2008 |
|
| Median Sale Price | $242,200 | $239,000 | $252,900 |
| Average Sale Price | $293,300 | $273,300 | $300,800 |
| Closed Sales | 1,506 | 1,795 | 987 |
| Pending Sales | 1,141 | 1,328 | 810 |
| New Listings | 2,104 | 2,449 | 1,880 |
| Active Listings | 11,597 | 12,697 | 13,882 |
| Total Market Time * | 144 days | 131 days | 138 days |
| Inventory (in months) | 7.7 | 7.1 | 14.1 |
Below is activity by market area. Please note that the median and average sale prices are year-to-date, and the appreciation numbers are a 12-month average compared to the previous 12-month average. Total market time is the number of days between the date it went on the market and when it received an acceptable offer.
Market Report by Area
| Area | YTD Avg. Sale Price |
YTD Median Sale Price |
12-Mo. Appreciation |
Total Mkt Time* |
| Lake Oswego / West Linn | $486,300 | $395,000 | -9.8% | 235 |
| West Portland & Downtown | $420,500 | $347,600 | -12.0% | 175 |
| NW Washington County | $369,300 | $349,900 | -8.7% | 158 |
| Tigard / Tualatin / Sherwood / Wilsonville | $316,000 | $285,000 | -10.3% | 178 |
| Milwaukie / Clackamas | $288,000 | $260,000 | -9.5% | 147 |
| Northeast Portland | $287,100 | $253,000 | -10.2% | 118 |
| Oregon City / Canby | $279,500 | $245,000 | -10.7% | 140 |
| Hillsboro / Forest Grove | $243,200 | $225,000 | -12.3% | 140 |
| Beaverton / Aloha | $241,100 | $223,000 | -11.9% | 122 |
| Southeast Portland | $240,900 | $215,000 | -12.7% | 104 |
| North Portland | $236,000 | $230,000 | -11.3% | 101 |
| Yamhill County | $227,300 | $206,000 | -14.8% | 197 |
| Gresham / Troutdale | $222,100 | $210,000 | -14.1% | 112 |
| Columbia County | $193,300 | $185,000 | -16.1% | 152 |
Comments
Leave a Reply
