This data about the Portland market helps clarify the supply and demand and pricing picture not only on the metro level, which is what is generally bantered about in the press, but also on smaller geographic areas, thus beginning to take location into account. Data is also broken out for types of housing: single detached, condominium, attached and "other."
Portland Metro Area June 2009
data sourced from RMLS data base on 7/1/2009
The above chart shows that active listings, while remaining very high over historical levels, have come down from the stratospheric highs of 2008 and are remaining fairly flat. This is notabale because, as the chart shows, this is the time of year when we usually see an increase in active listings.
Pricing will be updated mid July
Metro Area Inventory Composition
The above chart shows the breakdown of types of units and also their respective prices. These are prices for active listings.
detached house inventory as months of supply has dropped to 7.4 months or about 1 month shorter than total inventory. Of interest here is that the pendings and sold average price has continued to climb above the $300,000 level (average overall metro price for May was $291,400 for all types).
Demand in the condominium market remains limited, but has picked up some. Inventory is 13 months
attached housing configurations are showing 9.47 months of inventory
