RMLS Market Action for September 2011 was released on Friday afternoon. I’d consider the report mostly neutral. Inventory, median price, pending and closed sales were up but average price and the number of new listings decreased compared to August. Note that an increase in inventory is not considered a positive though at 6.7 months it is lower than it was at any point in 2010 and all but one month in 2009.
The rolling 12 month average sales price is down 5.9% to $266,900 from $283,600. Interestingly 5.9% is the same amount reported last week as predicted appreciation for Portland between the first quarter of 2012 and the first quarter of 2013 by Case Shiller/Firserv.
RMLS Market Action reports “Portland Metro” as a five county area. Case Shiller reports “Portland Metro” as the seven county MSA. Tomorrow I will post the more localized City of Portland inventory numbers.