July PDX numbers: More of the same.

Posted on August 2, 2008
Filed Under Portland, Statistics, Selling Real Estate, Buying Real Estate, Real Estate |

July and August, 2007, were the peak months for Portland Metro median price, both @ $300k.  The mortgage crisis hit in late August, so I think by September we’ll see a deceleration of the 35% drops in sales and an acceleration of the drop in median price.  But not this month.

Median price:  $290k, down 3.3%.  Interestingly median price for pending sales is lower:  $279,900.  That should be reflected in August sales.

Closed sales:  Now at 1669 - down 41% - will end up around 1800, down 1000 units, ~ 35%.

Closed volume:  Will end up down roughly $400 million YoY.

Months’ Supply of Inventory: Terradatum, 8.7, down slightly from June’s 9.3.  RMLS will be in the 9.5 range, even with June.

Total homes for sale at least one day hit a peak at 23,874, up 1.9% from June, but because Expired listings were up 47% and New listings down 13%, the Listings on the last day are down 2.6 % from June, to 18,135.

I’ll post graphs when I get the time.

 AREIL.

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5 Responses to “July PDX numbers: More of the same.”

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