Portland Real Estate | Market Report For December 2011

By
Real Estate Broker/Owner with BuyersAgentPortland.com | (503) 810-7192 Portland Metro Exclusive Buyers Agent | 100% Buyer Representation ~ 100% of the Time Licensed State of Oregon

Portland Real Estate | Market Report Dec 2011

This is a Portland Real Estate Market overview for the month of December 2011.

The market seems to be doing fine. But what this graph indicates is the pattern of listings . . . which are down for the month.  Matter of fact, listings have been off about 25% from last year starting in June 2011 and continuing to drop the remainder of the year.

Last month's report, Portand Real Estate Market report for November compared the new listings, pending sales and closed sales and indicated a drop of new listings for the month of November being down -18.1%

View Portland Real Estate November REPORT

What This Means for December 2010 vs. December 2011 MEDIAN Sales Prices?

Keeping with the <$18,400> difference between December 2011 vs. December 2010 the MEDIAN SALES PRICE in the Metro Portland Housing Market has also slipped:

December 2010 - Median Sales Price: $230,000

December 2011 - Median Sales Price: $216,600

The Median Sales Price in the Metro Portland Housing Market in December 2011: DOWN -5.8%

What the Numbers Say:

  • New Listings - DOWN -11.7%
  • Pending Sales - UP 19.3%
  • Closed Sales - UP 10.3%

Absorption Rate

The absorportion rate of Portland real estate indicates 5.3 months of inventory in December

  • Sellers Market: 1 to 5 months supply of homes
  • Neutral Market: 5 to 6+ months supply of homes
  • Buyers Market: More than 6 or 7 months’ supply of homes

Listings DOWN -11.7% in the Metro Portland Housing Market

Again, this is based on December 2010 compared to CURRENT December 2011. What this tells me is that:

  • Sellers are NOT listing their property
  • Sellers are NOT selling and moving-up
  • Buyers ARE out
  • Buyers ARE closing transactions
  • Buyers ARE not pushing pricing upwards

Portland Real Estate Market Time is Holding Steady

For both December 2010 and December 2011 the Average Days on the Portland Real Estate Market is: Approximately 145 days Median: Median is a mathematical result that indicates that one half of the group is higher and one half lower. Average: All sold prices are added together into a sum, the sum is then divided by the number of houses that sold.

Additional Portland Market Reports

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Representing Buyers in the Portland Metro Real Estate Market | Clackamas Multnomah and Washington Counties | Since 1999

Carla Muss-Jacobs, REALTOR®, ABR, CEBA, ePro
Principal Broker/Owner

Direct: 503-810-7192 | BuyersAgentPortland.com | Carla@BuyersAgentPortland.com

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Rainer
110,662
Carlotta Remong
Berkshire Hathaway HS N.E. Prime Properties - Newport, RI

Carla, according to the  Portland Market Report, statistics show  the market is getting better... prices are lower, inventory is lower, pending sales are higher and closed sales are higher and the absorbtion rate is 5.3 months. Which indicates  we are finally moving out of the buyers market into a neutral market.

Jan 17, 2012 05:54 PM #1
Ambassador
1,618,844
Tammy Lankford
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Your Lake Sinclair Expert (706-485-9668)

seeing a similar trend locally sold volume up, listing down, prices down.  I hope it means some "stabilization"

Jan 17, 2012 07:01 PM #2
Rainmaker
1,012,530
Adrian Willanger
206 909-7536 TheHomeFunnel.com - Seattle, WA
Profit from my two decades of experience

Carla, We are seeing almost the exact same thing in the Seattle market, listings are extremely low. Hopeful the lack of inventory will create a price upswing.

 

Best

Jan 17, 2012 07:45 PM #3
Rainer
63,700
Brett Reichel
Pacific Residential Mtg., LLC - NMLS 1477 / WA CL-1477 - Clackamas, OR
MLO 210215

Carla  -

Great graphics and a nice readable post with relevant information - job well done!

Brett

Jan 17, 2012 08:00 PM #4
Rainer
205,253
Marge Piwowarski
Phoenix AZ Horse Property - Phoenix, AZ
Phoenix AZ Horse Property, LLC

Carla, Great analysis of your mrket and real estate at the moment is looking a bit less local...

Jan 17, 2012 08:17 PM #5
Rainmaker
1,323,197
Carla Muss-Jacobs, Principal Broker/Owner
BuyersAgentPortland.com | (503) 810-7192 Portland Metro Exclusive Buyers Agent | 100% Buyer Representation ~ 100% o... - Portland, OR
Buyer Focused ~ Buyer Results

Hi Carlotta . . . what a great summation of the market!!

Hey Tammy -- we can only hope, right!!

Hi Adrian . . . well, for sellers ;-)  Might get some buyers off that proverbial fence!

Hey Brett -- Thanks!

Hi Marge . . . seems like the market might be heading toward neutral for quite a few markets 

Jan 17, 2012 11:54 PM #6
Rainmaker
514,361
Mitchell J Hall
The Corcoran Group - Manhattan, NY
Lic Associate RE Broker - Manhattan, NYC

Hi Carla, Excellent market report. I really like the chart. Hopefully 2012 will be a good year. I like neutral markets. I know you're a buyer's agent but in my opinion neutral markets (neither seller's or buyer's) are actually broker's markets. The field is level so good brokers can really work the market.

Jan 18, 2012 10:30 AM #7
Rainmaker
2,004,505
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Carla, I love your market reports. Great graphics and colors.

Jan 19, 2012 06:05 PM #8
Rainmaker
406,256
Nevin Williams
Sierra Pacific Mortgage Raleigh - Raleigh, NC
Raleigh Mortgage Pro

Carla - People are visual creatures so I have to tell you I think the hard work you put into these fantastic graphs should prove productive for you and easy to read for your subscribers.  Nicely done!

Jan 19, 2012 10:09 PM #9
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Carla Muss-Jacobs, Principal Broker/Owner

Buyer Focused ~ Buyer Results
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