Homes prices reaching a bottom?

Market    Median price        Price change                     Inventory
                                          (7/07' - 7/09')

--------   ----------------         --------------------------     ---------------

W Pdx     $355,000                -6%                            9.8 months

N Pdx      $230,000                -8%                            5.1 months

NW         $349,900                -8%                            5.7 months

NE Pdx    $255,000               -9%                             5.1 months

Mil/Clack $265,000               -12%                           6.8 months

SE Pdx     $219,000              -13%                            5.2 months

Beav/Aloha $227,500            -13%                            5.3 months

Hills/F Grove $231,000          -14%                            6.7 months

Tigard/Wilsonv $290,000       -15%                            7.4 months

L Oswego/W L $386,300        -17%                          11.6 mnths

Gresham/Troutd $214,000       -18%                           8.6 months

O City/Canby     $249,900       -18%                           9.1 months


Source: Regional Multiple Listing Service *Median price on sales made from Jan to July 2009
NOTE: many consider 6 months inventory a neutral market ... less than 6 months = seller's market and more than 6 months = buyer's market

Washington County Real Estate Stats for July 09'

Washington County Real Estate Stats for July 09'

Single-Family Residential

• 53% of homes were 3 bedrooms with an avg price of $255,575
• 42% closed in 30 days or less
• 20% closed in 121 days or more
• 48% used conventional financing
• 34% used FHA financing

closings up 20% from last month (575 vs 479)
total dollar volume up $18.5M from last month

Condominiums

• 20% sold were in the $140k to $160k range .... avg price being $158,065
• 35% closed in 121 days or more
• 21% closed in 30 days or less
• 46% used FHA financing
• 27% used conventional financing
• 17% used cash

closings up 26.8% from last month (52 vs 41)
total dollar volume up 1.7M from last month

Portland Metro Real Estate Stats, July 09'

Single Family Residential

• 53% of homes were 3 bedrooms - average price $259,753
• 39% closed in 30 days or less
• 22% closed in 121 days or more
• 48% buyers used conventional financing
• 32% buyers used FHA financing
• closings up 11.4% from last month (1782 vs 1599)
• total dollar volume up $147M from May 2009

Condos

• 19% sold were in the $200k to $250k range with average price of $234,273
• 22% closed in 30 days or less
• 35% closed in 121 days or more
• 48% buyers used conventional financing
• 25% buyers used cash
• closings up 17.5% from last month (208 vs 177)
• total dollar volume up $9.39M from May 2009

Call or Email Ted with questions or help with any of your Real Estate needs!

nwsold@gmail.com

(503) 936-4468

follow on Twitter at NWsold

NWsold Blogging Begins

Let the blogging begin! In my new NWsold Blog, I hope to share and discuss Portland real estate and market conditions with you. Please feel welcome to comment and share as more posts are added. I am also active on Twitter as NWsold. You may subscribe to either/both accounts on my website.  Thanks for visiting.