I Love Portland Homes

The latest RMLS market action report came out today. The year finished off with a continued decrease in the number of closed and pending sales, but sales price continued to rise. The number of closed sales was down 29.4% compared to this time last year.  The number of new listings also dropped for the third month in a row. At the current rate of sales, it would take approximately 8.5 months to absorb all of the active residential listings. The average home sales price in Portland this December was $352,000 and the median price was $276,500.  The average sales price during the 2007 year was $342,900 and the median price was $290,000. Both of those numbers are a $20,000 increase over the 2006 averages.*

I’ve noticed an increase in activity lately…people seem to be coming out of their post-holiday haze.  The statistics still support that this is a good time to buy. If you’re thinking about buying a house or condo in 2008, give me a call!

*From Market Action, a monthly review of RMLS area real estate statistics and trends compiled by RMLS.