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RMLS Market Action October 2008

Market_Action_October_2008
RMLS Market Action for October was just released. Nothing really surprising in the broad numbers. Inventory is up to almost 12 months. Accepted, closed and pending sales are down from this time a year ago. Average and Median prices are also down for the Portland Metro Area. The following breakdown “is based on a comparison of the rolling average sale price for the last 12 months (11/1/07-10/31/08) with 12 months before (11/1/06-10/31/07)”

North Portland 2.2%
Northeast Portland 2.0%
Southeast Portland -2.2%
Gresham/Troutdale -5.7%
Milwaukie/Clackamas -5.4%
Oregon City/Canby -4.8%
Lake Oswego/West Linn 3.6%
West Portland 5.0%
NW Washington County -0.7%
Beaverton/Aloha -4.2%
Tigard/Wilsonville -3.9%
Hillsboro/Forest Grove -5.0%

Three of the four areas that make up Portland report positive numbers. Only one suburb area, Lake Oswego/West Linn, can make the same claim.

2 Comments on “RMLS Market Action October 2008

  1. I was expecting better news. although, single digit losses should be considered victory at this point.

  2. The YOY drops are in double digits.

    The numbers Charles cites are 12 month rolling averages and include data comparing 2006 and 2007.

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