Portland Market Action: March 2011

Sales are picking up from February with closed sales up 50% in March of this year from the previous month. Inventory has dropped to 7.1, which means if no other homes were put on the market, at the current rate of sales it would take 7 months to sell all the inventory that exists today. The norm for the last several years shows inventory reaching as high as 12 months in December, descending through the summer and picking up again in the fall. In a normal market, 6 months inventory is seen as an even market between the supply and demand of sellers and buyers. A continued low inventory would signal a positive change in our market.

Looking east, Mt. Hood sales have dropped 45% from 2010 numbers- in my mind an indication of second home sales falling. Beaverton's numbers have only shown a 1.5% drop from 2010 numbers. Read the entire RMLS report.