The Latest RMLS Market Action Report & Commentary

Current Market Action Report - Courtesy of RMLS - April 2009

April's RMLS Market Action Report is out, albeit a day early (yesterday) and has some mixed findings. First off our average sale price change, equating to a depreciation rate as listed in the table below shows we've sunk further, overall 10.4% over prices last year at the same time.

We do see improvement though in terms of the pending and closed sales compared to last year as they have been for months now in the 30% range, as of April 2009 compared to April 2008 they are adjusting in a positive manner with pending sales down only 10.1% and closed sales down only 17.7% - As Realtors in the market we've also seen a significant increase in pending sales, homes are moving again and while we primarily see this uptick with homes under $200K, we are seeing an uptick which is great! Additionally new listings are way down compared to April 2008, down 28.1%

Click Image for Report PDF

Moving on month to month numbers, that is March 2009 compared with April 2009, pending sales are up 13.6%, closed sales up 10% and new listings up 3.3%.

Here's the kicker which is a great sign that all this "the recession will be over by the 3rd quarter" talk might just be accurate, in 2007 and 2008 we saw an increase in inventory between March and April, this year we've reversed trends, we have a full months decrease in inventory from 12 months in March to 11 months in April, another positive sign.

Depreciation as mentioned however hasn't been going well, as I said previously we're overall down 10.4% but the table below shows the number for April for each MLS area, the only one that saw an improvement is Mt Hood from -4.8% to -3.6%.

Area	DR	Area	DR	Area	DR
N Portland	-5.1%	Oregon City / Canby	-9.0%	Tigard / Wilsonville	-8.0%
NE Portland	-3%	Lake Oswego / West Linn	-9.1%	Hillsboro / Forest Grove	-9.6%
SE Portland	-6.2%	W Portland	-2.6%	Mt. Hood	-3.6%
Gresham / Troutdale	-9.0%	NW Washington Co	-5.8%
Milwaukie / Clackamas	-8.2%	Beaverton / Aloha	-6.6%

RMLS keeps changing their MLS Reports and seems to have officially ditched the "all counties" single PDF file format. As such we will only carry the Portland & SW Washington reports on our site until RMLS decides, if ever, to go back to an all counties single file.

To download or view the entire report click on the report image or click here (southwest Washington here)

2009 RMLS Market Action Report Archives

January 2009

February 2009

March 2009

Older than 2009 Archives