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A Publication of RMLS, The Source for Real Estate Statistics in Your Community

Residential Review: Metro Portland, Oregon March 2012March Residential Highlights

Comparing March 2012 withMarch 2011 shows improvement

in both pending and closed sales,which were also up compared tothe previous month. There were2,272 accepted offers, 12.8% morethan the 2,014 reported in March2011 and 7.7% more than the 2,109in the previous month. The 1,694

closed sales represent a 4.9%increase over the same month lastyear, when 1,615 were recorded,and 34.2% more than the 1,262sales in February.

New listings this March (2,886)were down compared to Marchlast year (3,056), but rose 15.8%compared to February (2,492). Thecombination of fewer new listingsand more closed sales contributedto the lowest unsold inventorysince June 2007. It would take only

five months to sell the 8,391 activelistings at the March rate of sales.

First Quarter Report

Comparing first quarter 2012with the same period in 2011

shows closed sales increased12.2%. There were more closedsales in the first three months of2012 than in any first quarter since2007. Pending sales were up by18.2% in the quarterly comparison,with new listings decreasing by

12.0%.A comparison of first quarter

prices this year and last showsaverage sales price declined lessthan one half percent. The averagesale price was $251,700 in thefirst quarter of this year and$252,800 in the comparable periodlast year. The median sale pricedecreased 1.4% ($212,000 this yearand $215,00 in 2011).

Total days on market decreasedby 17.9%, going from 165 in the

first quarter last year to 135 in thefirst quarter of 2012.

New

Listings

Pending

Sales

Closed

Sales

Average

Sale Price

Median

Sale Price

Total

Market

Time

March 2,886 2,272 1,694 252,600 215,700 135

Year-to-date 8,070 5,809 4,303 251,700 212,000 135

March 3,056 2,014 1,615 261,100 215,000 161

Year-to-date 9,172 4,915 3,834 252,800 215,000 165

2012

2011

Portland Metro

Residential

Highlights

*Inventory in Months is calculated by dividing

the Active Listings at the end of the month in

question by the number of closed sales for

that month.

Inventory in Months*

2010 2011 2012

January 12.6 11.3 7.0

February 12.9 10.9 6.5March 7.8 7.1 5.0

April 7.3 7.2

May 7.0 6.8

June 7.3 6.0

July 10.8 7.0

August 11.0 6.2

September 10.5 6.7

October 10.7 6.8

November 10.2 6.2December 7.9 5.3

Percent Change of 12-Month Sale Price

Compared With The Previous 12 Months

Average Sale Price % Change:

-5.1% ($262,700 v. $276,900)

Median Sale Price % Change:

-6.0% ($220,000 v. $234,000)

For further explanation of this measure, see

the second footnote on page 2.

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