Market Conditions Ending April 30, 2013

The Portland real estate market continues to build on increased prices and lowered supply and greater demand. When comparing April 2013 to April 2012 new listings are up 19.3%, pending sales are up 24.4%, closed sales are up 16.65, average sales price is up 15.3%, median sales price is up 14.2% and the total market time is down -26.5%. The average sale price percent change increased to 9.1%. The inventory dropped again to 3.1 months the last time it was lower was in June of 2006 about 7 years ago. The average sales price percent change measure the rolling averages over the last 12 months and compares it to the rolling averages over the previous 12 months and the inventory measure the supply of homes available for sale at the current rate of sale.