Last months Portland real estate market was a bit of a puzzler, with a few mixed signals. While prices seemed to increase 5% from the previous month, pending sales are down significantly from this time last year. However, pending sales grew by 8% over last month's pendings and closed sales increased 13% from June 2009 to June 2010
Listings, having descended every month since the 12.6 months of inventory in January, to 7 months in May, inched up a bit in June to 7.3. Average DOM (days on market) are down to 121 days from 147 days last June.
SE Portland took on the most new listings last month at 3,079 while N Portland put on the fewest at 1,055- with N Portland also still holding the lowest DOM at 74.
The next few months data will tell us a lot more regarding a firm direction the Portland real estate market is taking, post the end of the much ballyhooed tax credit. Read the entire Portland Market Action report.
Note: My DOM are running half of the market average.