RMLS released the latest edition of Market Action yesterday. The Portland Metro market report shows that inventory bumped up from a month ago. Closed sales are up but the number of new listings is down. The 8514 active listings are the fewest in three years. With more buyers competing for fewer listings we’ve heard some lament that they are not finding what they are looking for because there are too few houses to select from.
Average sales price is $249,100 which is about the same as it was this time last year and at the beginning of 2005. The question for 2012 is whether prices will follow the same trend as 2011 where there were gains in the first part of the year lost in the second half or do something completely different? Lower prices and the lowest interest rates in years have pushed Portland’s Affordability Index to the highest level since reporting began in September 2003.
Here are links to all of January’s Market Action Reports.
All Areas (68 pages)– Baker County– Columbia Basin– Coos County– Curry County– Douglas County– Grant County– Lane County – Mid-Columbia – North Coastal Counties– Polk & Marion Counties – Portland Metro– SW Washington– Union County– Wallowa County
Graphs from RMLS.