Jul
14
2008
RMLS June Market Action
By Charles Turner
Three posts in one day! RMLS Market Action for June just came out. The median sales price in the Portland area is $289,000, a 2% drop from June 2007. The average sales price is $348,800. That’s down 1.1% from June 2007. Days on market are about the same as last month. Inventory is fairly static but almost two-fold what it was this time last year.
A 1-2% drop in year over year pricing (compared with June 2007 when prices were at their peak) is great news.
I just saw another report where days-on-Market (DOM) for PDX realestate was only trailing San Francisco and Austin. All other major cities including Seattle are taking longer time to sell.