PDX November 2009 Market Action

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The November 2009 Market Action Report was released today by the RMLS (Regional Multiple Listing Service).  Here are the highlights:

There is 7.1 months’ inventory* of unsold homes.  That means if no other homes came onto the market, it would take 7.1 months to sell those properties.  In November 2008, Portland had a 15-month inventory of homes for sale.

Closed sales were up 72.4% compared to November 2008 and pending sales rose 19.9%.

The average sale price for November 2009 was down 11.4% compared to November 2008.

The median sale price declined 9.8%.

The average and median sale prices were down compared with October 2009 levels.

Average sale price is down 3.6% ($273,300 versus $283,500).

Median sale price is down 2.5% ($239,000 versus $245,000).

* 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.

December 15, 2009 by Deborah ·