The average sale price of Portland real estate for September 2011 fell 1.3% from the prior month of August 2011. The $3600 decrease in average sale price ($271,800 to $268,200) was offset a little by the median sale price rising from from $225,000 to $230,800. That is a 2.6% increase. When comparing September 2011 to the same month the prior year (September 2010), the average sales price were down 4.2%.
Portland real estate activity decreased the number of closings, pendings and new listings from the prior month. Closed sales decreased from 1,805 to 1,586 (-12.1%). Pending sales also went down from 2,187 to 1,861 (-14.9%). New listings fell from 2,879 to 2,501 (-13.1%).
When comparing September of 2011 to September of 2010, closed & pending sales were up. A percentage shift of 13.4% for closings and 17.5% for pendings. Meanwhile, new Portland real estate listings dropped by 29.5% over last July.
At Septembers 2011′s rate of sales, the 10,666 active residential listings would last about 6.7 months, just a little less than last month..
Sales activity was down when comparing the third quarter of (July-September) 2010 with the same period this year. Closed sales jumped up by 21.5% (4,340 v. 5,275), while pending sales also increased by 21.6% (4,725 v. 5,747). New listings fell 27.6% (11,582 v. 8,380).
In the same quarterly comparison, average sale price fell 6.9%, while median sale price dropped 7.5%.
To see how last months data looked, click here.
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