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). 

Year-to-Date Report 

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%