Current Market Action Report - October 2009
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Current Market Action Report - October 2009
The RMLS Market Action Report for October 2009 is and inventory is DECREASING which is, well , odd for this time of year. Not incredibly odd, sometimes we see a difference of 0.2 months decrease as we did in 2007, but this time round it's almost a full months decrease from 7.6 months in September to 6.5 months in October. As for us in the market we're definitely experiencing a busy market right now ourselves so I suppose this isn't too surprising.
Here are some really interesting numbers though, comparing October 2008 with October 2009 closed sales are up 37.1% and pending sales are up a whopping 64% - Wow! Listings fell by 4.5% which we want to see, we need that number to continue declining as it has been. This jump in pending sales is the largest we have seen since February 1996; not too shabby at all!
Click Image for Report PDF
For area specific depreciation rates look to the table at the bottom of this page.
Additionally the number of closed sales in October of 2,009 (ironic ain't it?) is the highest we've seen since August of 2007; we're getting back on the right track folks! Additionally closed sales increased from September 2009 to October 2009 by 11.6% , but pending sales fell 9.1%, so next months closed sales aren't going to be looking that great. New listings month to month fell by 4.3%.
Our year to date numbers are lacking however with pending sales up only 1.8% compared to the same YTD (January - October) of 2008 and closed sales are down 8.8%. The average sale price from 2008 - 2009 is down 12.6%, so we're still depreciating; median is down 10.9%
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 | -12% | Oregon City / Canby | -10.7% | Tigard / Wilsonville | -11.2% |
| NE Portland | -10.7% | Lake Oswego / West Linn | -14.5% | Hillsboro / Forest Grove | -13% |
| SE Portland | -11.6% | W Portland | -12% | Mt. Hood | -6.2% |
| Gresham / Troutdale | -15.6% | NW Washington Co | -7.6% | ||
| Milwaukie / Clackamas | -10.6% | Beaverton / Aloha | -11% |
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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