Market Conditions Ending October 31, 2010

The Portland Metropolitan area maintained similar inventory levels as last month at 10.7 months of inventory.  This means that if no new listings hit the market it would take approximately 10.7 months to clear out all the current inventory the current rate of sale.   The Average Sales Price Percent Change is -3.3%.  This means that from October 2008-October 2010 the Average Sales price was $292,900 while from October 2010 - October 2010 the Average Sales price is at $283,100 which means it's a 3.3% drop.  When comparing October 2010 to October 2010 new listings are down 9.4%, pending sales are also down 21.5% and closed sales are down a whopping 35.7%.  The average sales price is from October 2010-October 2010 is also down 2.4%.  The total time on market remained at 131 days.