Market Conditions in Portland through October 2006
Market Outlook for Portland for October
The real estate market in Portland seems to be different than a lot of the other markets. Although the number of sales is down quite a bit from last year, with the sales up to the end of October numbering 116 closed transactions in 2005 and only 73 for the same time period in 2006, the average sale price is up by approximately 6.5%. The average closed sale price last year was $273,655 and the average closed sale price this year is $291,375. The average sale price per square foot is $160.12 and the average days on the market is 70 days. Homes are priced from $149,900 to $2.1 Million dollars. For the month of October there were 17 new listings and only 5 deposits. There are only 60 active listings in Portland, compared to about an average of 47 last year. This is not a very large increase in inventory. Again although the numbers for Portland look good, correct pricing of a home is still crucial for a quick sale.