Market Conditions Ending September 30, 2010

Portland Inventory decreased slightly from 11 months to 10.5 months.  The average sales price over the last 12 months versus that of the previous 12 months decreased by 4.5% ($296,900 to $283,400).  The total time on market is 131 days on average.   This number signifies when the time it takes when a property is listed to when their is an accepted offer on the property.  There were 3549 new listings in September, 1584 pending sales and 1399 closed sales.  When comparing September of 2010 to that of 2010 pending sales are down 30.7% while closed sales are also down 22.3%.  The average sales price from September 2010 to 2010 has decreased by 3.5% (September 2010 was at $290,100 while September 2010 is at $279,900).   Every area of the Portland Greater Metropolitan Area has decreased in value when comparing September 2010 to September 2010.  The lowest decreases came in N, NE Portland and Beaverton/Aloha areas at under around -1.8% declines.  While the highest decreases came in Lake Oswego/West Linn, Oregon City/Canby, and Columbia County at around -10%.