Saturday, April 14, 2012

Concordia Market Report



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Thursday, April 12, 2012

RMLS Market Action - Portland Metro Area

The Portland Metro Area showed signs that prices are starting to stabilize.  In the first quarter of 2012, the average sale price dropped less than one percent compared with the same period last year.  Sales in the first quarter were higher than any first quarter since 2007. 

Comparing March 2012 with March 2011, closed sales increased 4.9% while pending sales rose 12.8%.  More sales activity combined with a decrease in new listings caused inventory to drop down to 5 months, the lowest level since June 2007.

RMLS Market Action Report - SW Washington

 Inventory across the area dropped to 6.4 months, the lowest level since September 2006.  Closed sales in March grew 5.6% over March 2011, although pending sales dropped slightly.  New listings dropped 17.6% from last March, which played a role in the  decrease in inventory. 

Prices continued to slide.  In the first quarter of 2012, average sales price dropped 8.1% while median price dropped 9.7% compared with first quarter 2011. 

Want to see what's happening in your neighborhood?  See active/pending/sold listings in your area, plus market stats for your part of Vancouver with a Free Market Neighborhood Market!  Customized for your neighborhood and delivered to your inbox in under thirty minutes.

Neighborhood Trends: Fisher's Landing (Vancouver)

Inventory is down significantly in the Fisher's Landing neighborhood in Vancouver.  With 60 homes on the market and an average of 19.1 sales per month over the last year, the current supply would last just over 3 months.  New listings have dropped significantly.  Not since September have more than 20 new listings come on the market. 

While sold prices have trended downward over the last year, the average list price is beginning to move upward.  The low inventory should help seller's get offers closer to their list price, so look for average sales price to increase over the spring and summer.