August data in: The Portland Metro Is Looking Good in 2012

No news is good news? August real estate data say otherwise. Here are some highlights of positive year-over-year growth in Portland in August of this year.
 

  • With 2,311, closed sales, August 2012 shows the most activity in the area since August, 2007.  
  • The average sales price year-to date of $271,100 is 2.7% higher than it was for the same time span in 2011.
  • The 2012 year-to-date median is $230,000, 4.5% higher than that period last year.
  • Pending sales are up as well with 2,387 accepted offers in August, 9.1% more than August 2011.

 Year-To-Date Data

In the first eight months of 2012, buyers have had 3.7% fewer new listings to choose from than in that same period last year. Yet despite lower inventory, Portland real estate is stroner than every, with 16.8% more accepted offers and 17.4% more closed sales.  This trend of more sales-- despite fewer offerings-- matches nation-wide trends, as reported by Sarah Green and myself on ZipRealty's national blog.  As a result, the market in Portland has become more competitive, and with that competition, fewer days on the market for the average listing. 

Fall Season

Expect a  fast-paced market the fall, with fewer listings overall, and with buyers and sellers looking to close escrow well before the holidays. 

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Anna Marie Erwert writes from both the renter and new buyer perspective, having (finally) achieved both statuses. She focuses on national real estate trends, specializing in the San Francisco Bay Area and Pacific Northwest. Follow Anna on Twitter: @AnnaMarieErwert

 

Anna Marie Erwert writes from both the renter and new buyer perspective, having (finally) achieved both statuses. She focuses on national real estate trends, specializing in the San Francisco Bay Area and Pacific Northwest. Follow Anna on Twitter: @AnnaMarieErwert

 

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