Market Conditions Ending January 31, 2013

The Portland Metropolitan real estate market continues to produce lower inventory returns year after year. January 2011 we had 11.3 months of inventory, January 2012 we had 7.0 months of inventory and now ending January 2013 we have 4.7 months of inventory. The average sales price percent change increased by 11.5% from the average sales price percent change ending January 2013 at 5.4% compared to last January 2012 the average sales price percent change was -6.1%. The average sales price percent change is a key indicator of overall market appreciation and depreciation. This figure measure the rolling average sales price over the last 12 months and compares it to the rolling average sales price over the previous 12 months.

When comparing market appreciation at snapshot, the Portland market appreciated from last January by 15.5% (average sales price) and 19.5% (median sales price). The total marketing time decreased by 16.3% from 136 days on average to currently 114 days. New listings are down 6.7%, pending sales are up 4.6% and closed sales are up 9.8% from last year.