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Your Local Source For Real Estate Activity in Your Community Metro Portland, Oregon April 2009 _____________________________________________________________________ April Residential Highlights While sales activity continued a steady month-over-month increase in the Portland metro area, it still fell short of 2008’s same month marks for April. Comparing April 2009 with the same month in 2008, pending sales were down 10.1% and closed sales decreased 17.7%. New listings also dropped 28.1%. On the other hand, comparing April 2009 with March 2009, pending sales grew 13.6% (1,860 v. 1,637). Closed sales also rose 10% (1,302 v.1,184). New listings increased 3.3% (3,808 v. 3,685).Pending sales continue to rise month-over-month at a steeper than usual rate (13.6% in 2009 vs. 6.8% in 2008 and -2.3% in 2007).   Sale Prices Inventory also dropped to 11 months and this is the first time it has dropped from March to April since 2004. Active residential listings in April numbered 14,328 - up from 14,158 in March. The average sale price for April 2009 was down 10.4% compared to April 2008, while the median sale price dropped 9.1%. See residential highlights table below. Month-to-month, the average sale price and median sale price were mixed when compared with March levels; the average sale price decreased 2% ($291,100 v. $297,000) and the median sale price was up 1.4% ($249,900 v. $246,400). 
| Area |
Average Sale Price |
Average Market Time |
Appreciation |
|
North Portland |
$239,000 |
113 days |
-5.1% |
| Northeast Portland |
$298,800 |
107 days |
-3.0% |
| SE Portland |
$245,000 |
127 days |
-6.2% |
| Gresham/Troutdale |
$232,900 |
167 days |
-9.1% |
| Milwaukie/Clackamas |
$304,400 |
185 days |
-8.2% |
| Oregon City/Canby |
$330,300 |
147 days |
-9.0% |
| Lake Oswego/West Linn |
$467,700 |
178 days |
-9.1% |
| West Portland |
$414,100 |
154 days |
-2.6% |
| NW Washington Co. |
$326,300 |
135 days |
-5.8% |
| Beaverton/Aloha |
$233,700 |
126 days |
-6.6% |
| Tigard/Wilsonville |
$315,400 |
158 days |
-8.0% |
| Hillsboro/Forest Grove |
$245,800 |
165 days |
-9.6% | 
Working With An Agent >Real Estate Agent Representation
Which party in a real estate transaction is represented by the real estate agent--the buyer or the seller? Until recently that question was never asked because the answer was always the same. Traditionally all the marketing professionals involved in real estate transactions were legally and ethically obligated to conduct business on behalf of the seller. They may have aided the buyer in certain situations, but their client was the seller. Today that is not necessarily the case.
In a time of increasing specialization, buyers can be represented by a real estate agent who functions solely as a buyer's broker. In this case, the sales professional helps the buyer locate a home, negotiate the price, and is responsible to the buyer only, for an agreed-upon fee or a percentage commission.
In any real estate transaction you have the right to know which party the real estate agent is representing.
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| Q |
What is the world's longest frontier?
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| A |
At 3,987 kilometers (3,987 miles), the border between Canada and the U.S. is the longest in the world. |
See More Real Estate Trivia > |
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