July Residential Highlights
When comparing sales activity in the Portland metro area in July 2010 to the same time last year, July 2009, closed sales declined 29%. Pending sales also decreased 24.9% and new listings rose 3.1%. See residential highlights table below. On a month-to-month basis, when comparing July 2010 to June 2010, closed sales fell 29.8% (1,412 v. 2,012), while pending sales grew 0.7% (1,629 v. 1,618). New listings also fell 0.5% (4,029 v. 4,049). At the month’s rate of sales, the 15,271 active residential listings would last approximately 10.8 months.
Sale Prices
The average sale price for July 2010 increased 2.9% compared to July 2009, while the median sale price went down 1.6%. See residential highlights table below. When comparing July 2010 to the month prior, June 2010, the average sale price increased 2.5%($297,000 v. $289,000) and the median sale price also went up 2.5% ($246,000 v. $240,000).
Year-to-Date
Increases are seen when comparing January-July 2010 with the same period in 2009. Closed sales were up by 22.5%. Pending sales also went up 9.1% and new listings grew 6.8%.
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