August 2008 Portland, Oregon Inventory and Property Reports:
Market Conditions Ending August 31, 2008
The overall market conditions at the end of August are down
compared to July and last year. Homeowners are finally
understanding that they are not going to get the price they want
out of their homes which resulted in 27.1% fewer new listings.
Closed and pending sales were down 30.7% and 22% respectively.
From July 2008 to end of August closed and pending sales were
down 3.3% and 4.7%. New listings fell off 16% which is the best
indicator that not only is the market slow but people now
understand that and know they cannot get the values of
yesteryear. There is 9.9 months of inventory and the average
price decline year to date is 6.7%. |
For the corresponding statistical data for market conditions ending August 31, 2008 click here.
Click on any link below to see any of the previous market condition summaries for Portland residential real estate broken down by month and year:
Real Estate Market Conditions Archive For Portland, Oregon:
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