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Realty Trust Group
The McCredie Team, Realty Trust Group, Inc.- Lake Oswego Branch, Don McCredie, Cameron McCredie, Jo Rice
July Local Market Report
Posted on July 30, 2012
Here is the latest report on the local real estate market.
| Market Action Summary Portland Metro | Current June 2012 | Last Month May 2012 | % Change | Last Year June 2011 | % Change |
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| Inventory (Months) | 3.9 | 4.2 | -7.14% | 7.3 | -46.58% |
| Market Time (Days) | 114 | 114 | 0.00% | 134 | -14.93% |
| Average Sale Price | $284,100 | $281,400 | 0.96% | $267,100 | 6.36% |
| Median Sale Price | $242,000 | $234,500 | 3.20% | $222,900 | 8.57% |
| New Listings | 3,208 | 3,260 | -1.60% | 3,140 | 2.17% |
| Closed Sales | 2,244 | 2,098 | 6.96% | 1,958 | 14.61% |
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| (Source: RMLS Market Action Report) |
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The more modest homes are in greater demand - driven by a reduced inventory, it's a seller's market in many neighborhoods.
The Wall Street Journal surveyed 44 economic forecasters - 41 declared we have reached the bottom of the housing market.
As long as the vast number of foreclosed homes yet to be released do not flood the market, we will see a continued slow recovery.
- Cameron
