Portland real estate housing inventory has been roughly between 10 and 11 months for the last eight months with the exception of December’s blip. The general thought is that six months is equilibrium between a buyer’s and seller’s market so we’re still a buyer’s market by that standard. Whether or not you should list your home for sale now depends on your situation. Some of our listing appointments end with us advising clients to wait out the market because in all likelihood it will be better later than now.
The Portland real estate market continues its decline. As the average and median sale prices lost ground but “comparing January-February 2011 with the same period in 2010 shows closed sales increased 5.4%. Pending sales were down 8.3%, and new listings decreased by 23.6%.” (RMLS)
RMLS uses a five county area to define Portland. In the next day or two I will tabulate the the more localized data that makes up the city of Portland.
Here’s the ling to the complete Portland Metro RMLS Market Action.