Portland Market Report for March 2007
Market Report for Portland for March 2007
There are 42 active listings in Portland, 16 came on the market in March, 14 went under deposit and only 1 closed. The average sale price was $380,000, the listing sold for 95.02% of the final listing price and the house was on the market for 188 days. Compared to last month number of deposits doubled to 14 , but closings went down from 9 to 1. The average sold price went from $303,600 last month to $380,000 this month, but with only 1 closed sale, there is not enough information to say prices are going up.
Looking at March 2006, there were 11 closed sales with an average sale price of $302,336 with listings selling for 97.19% of the final listing price and average days on the market were 110. Closed sales were down 91%.
1st Quarter 2006 vs. 1st Quarter 2007
The 1st quarter of 2006 there were 21 closed sales with an average sale price of $285,100 and a median sale price of $277,000. Homes sold for 97.54% of their final asking price and were on the market for an average of 89 days. The 1st quarter of 2007 there were 18 closed sales with an average sale price of $287,961 and a median sale price of $248,750. Listings sold for 96.25% of their final asking price and were on the market for an average of 82 days. Sales were down 14%, but prices were up about 1%. Overall the market looks fairly stable without any major changes.