Portland RMLS Market Action Report – March 2008
The median sale price for March 2008 was $286,500 this is a .1% increase over the median sale price for March 2007.The Portland residential real estate market peaked in August 2007 with a median sale price of $300,000. Prices have now fallen 4.5% from that peak.Months of supply (total inventory/monthly sales) sits at 9.1 months compared to the 3.8 months of supply for March 2007. A balanced market has between 6 and 8 months of supplyThe first graph compares the median and average sale price with the months of supply. Click on any graph for a sharper image.
The second graph shows the total supply of homes available for sale. This is simply a calculation of the months closed sales multiplied by the months of supply. The inventory of homes is up 45.9% from the same month the year before.
The third chart shows closed sales by month. Closed sales fell 39% […]
Original post by Clint8200
