We’re getting a better look at how 2009 wrapped up with yesterday’s release of RMLS Market Action. For the year, there were fewer closings than in 2008 but not by much (18,955 down from 19,132). The rolling 12 month average sales price was down 12.1% to $289,000 (median down 10.8% to $247,000).
Compared to 2008, December 2009 was a great way to finish the year. Closed sales were up 52.6% from the previous snow battered month a year ago. 2008 ended with a record high 14.1 months of inventory that has now dropped nearly in half to 7.7 months. Sales were slower than November but that would be expected.
RMLS Market Action is one of the three sources I usually write about that cover Portland real estate. Market Action is released mid-month of the following month reported. The Case Shiller Index has a three month lag so we won’t see December ’09 until the last Tuesday of March. Prudential Northwest Properties Market Tracker reports are released the first week of the following month and are emailed to subscribers. You can also look at the graphs from the reports on our PDXBuyers.com website.