I have preliminary market data for the month of May, 2008 for North Portland Real Estate.
Highlights Include:

$252,500 median price is approximately 1% below May 07 $254,000 median price
122 properties under contract (pending sales) is approximately 13% below last May’s contract sales of 141*
Sold properties in May were on market an average of 43 days
There are [...]

Preliminary market data for the month of May for Portland West Real Estate.

Highlights Include:

* $365,000 median price is approximately 7% below May 07 $393,000 median price
* 232 properties under contract (pending sales) is ~29% below last May’s contract sales of 327*
* Sold properties in May were on market an average of 90 days
* There are approximately 8.6 months of inventory on the market at the May sales rate

I have preliminary market data for the month of May, 2008 for Northeast Portland Real Estate.
Highlights Include:

$280,000 median price is approximately 2% below May 07 $285,000 median price
224 properties under contract (pending sales) is approximately 27% below last May’s contract sales of 308*
Sold properties in May were on market an average of 47 days
There [...]

I have preliminary market data for the month of May, 2008 for Southeast Portland Real Estate.
Highlights Include:

$255,000 median price is approximately equal to May 07 median price
310 properties under contract (pending sales) is approximately 27% below last May’s contract sales of 424*
Sold properties in May were on market an average of 66 days
There are approximately [...]

 
I have preliminary market data for the month of May, 2008 for North Portland Real Estate.
Highlights Include:

$252,500 median price is just down 1% from May 07 $255,000 median price
122 properties under contract (pending sales) is approximately 13% below last May’s contract sales of 141*
Sold properties in May were on market an average of 9of just [...]

The April headline for Portland, OR real estate is clearly “Prices Down.” Finally. This is the first retreat in median home prices for Portland real estate since May 2001. Seven Years!
It was not surprising. Price is a trailing metric. The dramatic declines in transaction volume, and resulting build-up of [...]

I’ve been asked why Fed rate cuts have not resulted in lower mortgage rates. This question came up from two clients yesterday. Last night I sat down last night to write about it, and ran across this post in Transparent Real Estate.
Pat does such a great job laying this out, I was [...]

There is a saying that the only two things that people don’t like to buy on sale are real estate and stocks. I talk to many would-be homeowners and investors that are content to stay on the sidelines, waiting out the inevitable decline in our real estate market.
Home prices and investment properties are the [...]

Portland’s RMLS recently reported RMLS March Market Action Report. As I was reviewing the numbers at the beginning of the month I expected that we would report a year-to-year price decline for the first time. But, as March data trickled in during the early part of April, prices were high enough [...]

Too nice yesterday to be out looking at houses. It seemed like everyone was out having fun or working in the yard. Not us. Greg and I spent the entire afternoon showing houses in Southeast Portland.
Some general observations from our day in the market:

There are a growing number of short sales in [...]