RMLS reports days on market at 52 and 58 days for July and YTD, respectively. In ’06 it was 38 and 42 days. The broad market RMLS snapshot doesn’t reveal the whole story for Portland. In the four reporting areas for Portland we see this for July 07 (06 in ()):
N Portland: 48 (26)
NE Portland: 42 (29)
SE Portland: 38 (31)
W Portland: 44 (46)!!!
Gresham/Troutdale: 63 days (37)
Milwaukie/Clackamas: 60 days (40)
Oregon City/Canby: 66 days (51)
Lake O./Oregon City: 55 days (46)
Do those numbers take into account the manipulation such as taking a home off the market and putting it back on to restart the clock?
I don’t buy those numbers.
Wow, your DOM numbers are pretty low. Austin averaged 55 in July, with some pockets being as low as 12.
Heh DOM numbers are complete crap and everyone knows it.
The relisting etc. accounts for it – with 20k properties for sale now in PDX and 2k a month selling there is no way DOM < 50. Walk around - everything I see has been on for months - many for 6 months or more.