RMLS Market Action Report: September 2009
The Portland Metro Real Estate Market Action Report from the Regional Multiple Listing Service (RMLS) just released. Let’s recap what the numbers are saying… In addition, click here to preview the complete copy of this months real estate market action report. If you’re looking for Sherwood Market Data, it’s grouped under area 151.
Positive Facts to Highlight:
This months report shows a trend of increasing real estate sales & lower housing inventories.
Compared to last years numbers in September 2008, PENDING sales this September were up 34% and CLOSED sales rose nearly 10%! Also during that same time period, NEW Listings fell 14.3%. This indication of lower inventories on the market is a positive for sellers – although it is still a buyers market.
The “average” price declined 8% and the “median” home price dropped nearly 10%. However, inventory levels remain steady and lower than past trends with 7.6 months of inventory on the market.
The rising amount of lower priced homes selling is greatly due to the increased demand and opportunities the first time home buyer tax credit presents. This is also playing a huge role in the number of increased pending and closed sales we’re seeing today.
The Gardner Team – 971.832.1234
The inventory scale:
Many say 6 months of inventory is a balanced market. Anything lower, a sellers market and anything higher, a buyers market. That’s how it weighs out now anyway. It will be interesting to see how this guideline plays out within the respective markets of our changing economy.
Whether it’s a buyers market or a sellers market, results will always vary. That’s why choosing to work with the right realtor is so important. As your local market expert, we can give you a true advantage through our proven ability. Our experienced perspective, free consultations and custom comparative market reports help clients get the most accurate read when it comes to properly pricing their home to sell or making an equitable purchase. If you have questions about the real estate market, buying or selling all you have to do is contact us. We look forward to sharing our experience with you.
The Gardner Team – 971.832.1234