As the Portland real estate market entered into the warmer months of summer the market cooled slightly. Inventory rose just a bit to 2.9 months of supply and prices began to level out. When comparing June to last year listings were up 16.9%, pending sales rose 15.2%, closed sales increased 11.9%, the average price was up 10.5% and the median rose 12.4%. Compared to the previous month new listings fell 2.1%, pending sales dropped 5.8%, closed sales were 6.4% lower and the average price fell 0.9% with the median home price climbed 0.9%. Year to date the average sales price has increased 13.8% and the median increased by 14.2%. One of the main factors for the leveling off of the market is due to the interest rate hikes over the past 45 days.
Posted on: Tue, 23 Jul 2013 18:00:41 +0000
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