Portland Metro Market Action Update June 2012
This month we’ve made a change to the Sale Price graph on page five. In addition to the average sales price the graph will also now include the median sale price. This creates a quick visual representation of how both measures are performing.
June Residential Highlights
Every measure of real estate activity is positive whencomparing June 2012 with June 2011. There were 2,435 accepted offers, 21.7% more than the 2,001 reported in June 2011 although down slighly (-3.4%) from last month.
The 2,244 closed sales represent a 14.6% increase over the same month last year, when 1,958 were recorded, and 7.0% more than the 2,098 sales in May. This represents the highest number of closed sales since August 2007 when there were 2,554 closings.
The unsold inventory in months dropped again in June and continues to be the lowest it has been since March 2007 when it was 3.8. It would take only 3.9 months to sell the 8,799 active listings at the June rate of sales.
Sale Prices
Home sale price measures were all positive in June. The median sales price rose 8.6% when comparing June 2012 with the same month in 2011 and 2.9% when comparing the first two quarters of 2012 to that period in 2011. This is the third consecutive month in 2012 that the median home price has risen.
Information courtesy of RMLS. If you would like to view the full PDF report, send me an email.
