Current RMLS Market Action Report - August 2009
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Current RMLS Market Action Report - August 2009
The RMLS Market Action report for August 2009 is out and the numbers show us slipping in terms of inventory, it's gone up from 7.3 months in July to 7.8 months in August, however compared to the previous year other numbers are looking up except depreciation which has continued it's decline in most areas.
Pending sales were up over last year by 13% and closed sales rose a slight 4% compared to August 2008. Closed sales however as compared to July 2009 fell by 7.4% and pending sales just barely fell by 0.7%. New listings also dropped by 3.3%.
Click Image for Report PDF
For area specific depreciation rates look to the table at the bottom of this page.
Comparing August 08' with August 09' the average sale price fell 10.6% and the media price fell 10.8% but compared to July 2009 August was up for average sale price by 2.7% and down on median only a small fraction of 0.04%.
For inventory levels though they are increasing this is to be expected at this time of year in most markets anyway, in addition we're still 21.2% below the inventory levels we saw at the same time in August 2008 which is of course great news!
For depreciation Lake Oswego is the winner for having the highest level of depreciation in the area right now but they were also one of the last to begin the downhill slide when the market dropped. Currently Lake Oswego is clocking in at a -15% depreciation rate as of August 2009. The areas that seem to be headed in the right direction are few, only Beaverton,/Aloha, Tigard/Wilsonville, West Portland & Mt Hood are moving in a better direction, but they are still depreciating significantly and as we've seen with previous reports next months report could easily show them moving in the wrong direction again...we'll see.
The numbers below reflect this last months depreciation rates, items in red show a move in the wrong direction (i.e. depreciating more) Items in black show an improvement.
| Area | DR | Area | DR | Area | DR |
| N Portland | -10.4% | Oregon City / Canby | -12.3% | Tigard / Wilsonville | -8.5% |
| NE Portland | -8.5% | Lake Oswego / West Linn | -15% | Hillsboro / Forest Grove | -12.7% |
| SE Portland | -10.6% | W Portland | -10.9% | Mt. Hood | -6.1% |
| Gresham / Troutdale | -14.4% | NW Washington Co | -5.1% | ||
| Milwaukie / Clackamas | -10.3% | Beaverton / Aloha | -8.8% |
To download or view the entire report click on the report image or click here - This report includes all RMLS Counties, scroll down to find the Portland Metro report.
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