Agent Profile
I am a top ranked agent serving the Portland area for over 20 years specializing in residential real estate sales and investments. I created this site as a real estate resource for buyers and sellers who want to be well informed about current inventory and pricing. If you are interested in actively tracking the market, please sign up to receive my daily listing email. We map every new listing each day then update the neighborhood maps. The map is emailed to you...simply click a neighborhood to see the listed properties for sale, complete with pictures, price and address. Agency Info
RE/MAX Equity Group
5800 Meadows Road, Suite 100
Lake Oswego, OR 97035
Portland Metro Real Estate: Portland Metro March 2011 Market Action Report
While sales activity was down in March 2011 compared with March 2010, activity increased compared to the previous month of February 2011. Additionally, inventory in the Portland metro region was 0.7 months lower than March 2010, reaching the lowest inventory level for the area since May 2010. Closed sales were down 10.2% in March 2011 compared to March 2010. Pending sales were down 16.2%, and new listings dropped 38.7%. See residential highlights table below. Comparing February 2011 with March 2011, closed sales jumped from 1,074 to 1,615 (50.4%). Pending sales also increased from 1,592 to 2,014 (26.5%). New listings grew from 2,883 to 3,056 (6%). At the month’s rate of sales, the 11,458 active residential listings would last about 7.1 months.
Sale Prices
Average sale price for March 2011 declined 6.8% compared to March 2010. Median sale price also fell 10%. See residential highlights table below. Month to month, comparing February 2011 to March 2011, sale prices increased. Average sale price went up from $244,500 to $261,100 (6.8%) while median sale price also increased from $213,700 to $215,000 (0.6%).
First Quarter Report
Comparing the first quarter of Additionally, the average sale price fell 9.2% ($252,800 v. $278,300), and the median sale price dropped 9.5% ($215,000 v. $237,500).
2011 with the same period in 2010, sales activity was down. Closed sales decreased by 1.5% (3,834 v. 3,892). Pending sales went down by 11.9% (4,915 v. 5,576), and new listings fell 29.8% (9,172 v. 13,072).
Source: RMLS
Portland Monthly: Neighborhoods by the Numbers
Lake Oswego has one of the best real estate markets for its population size. Portland Monthly issued its annual Neighborhood by the Numbers report that shows updates in the real estate market throughout the Portland Metro area. It shows real estate measurements such as average sales price, median home price change, and average days on the market. The report also shows information on schools, crime rates, demographics, and community information.
Check the report out, and find that Lake Oswego was one of a few neighborhoods with lowest median home price change.
http://www.portlandmonthlymag.com/real-estate/articles/neighborhoods-by-the-numbers/
How did the real estate market of 2010 compare to 2009?
How 2010 measured up to 2009
The year’s highlights for Single Family Homes in the Portland Metro Area:
Sales: 18,926 sold in 2010 vs 18,955 in 2009: no appreciable change (up 0.1%).
Pending Sales: 19,498 in 2010 vs 19,921 in 2009: down 2.2%.
New Listings: 45,691 in 2010 vs 44,357 in 2009: up 2.9%.
Average Price: $282,100 in 2010 vs $289,900 in 2009: down 2.6%.
Median Price: $239,900 in 2010 vs $247,000 in 2009: down 2.9%.
Total Market Time: 132 days in 2010 vs 141 days in 2009: down 6.8%.
Interesting Facts:
*Total sales volume for 2010 was $5.3 Billion, down from $5.5 Billion
Source: RMLS
Want to know how your home measures up in 2011? Call me today for a complimentary Comparitive Market Anaysis!
How did the real estate market of 2010 compare to 2009?
How 2010 measured up to 2009
The year’s highlights for Single Family Homes in the Portland Metro Area:
Sales: 18,926 sold in 2010 vs 18,955 in 2009: no appreciable change (up 0.1%).
Pending Sales: 19,498 in 2010 vs 19,921 in 2009: down 2.2%.
New Listings: 45,691 in 2010 vs 44,357 in 2009: up 2.9%.
Average Price: $282,100 in 2010 vs $289,900 in 2009: down 2.6%.
Median Price: $239,900 in 2010 vs $247,000 in 2009: down 2.9%.
Total Market Time: 132 days in 2010 vs 141 days in 2009: down 6.8%.
Interesting Facts:
*Total sales volume for 2010 was $5.3 Billion, down from $5.5 Billion
Source: RMLS
Want to know how your home measures up in 2011? Call me today for a complimentary Comparitive Market Anaysis!
Bank of America Splits its Foreclosure Department
In an effort to expediate foreclosure claims, and help service the clients that are current on their mortgage–B of A has decided to create a seperate foreclosure unit. B of A has been taking the lead when it comes to properly service distressed homeowners in the last 6 months, being the first of the mega-banks to put a hault on foreclosures when there was some speculation about the process.
Could this mean a faster, more efficient process for distressed homeowners, or buyers wishing to buy a bank-owned property? Let’s hope so.
For the full article, go to:
http://abcnews.go.com/Business/wireStory?id=12844023
Portland Metro Market Action Report: December 2010 & Annual Stats
Looking at the Portland Metro area market in 2010, December continued the trend of decreased activity toward the end of the year. However, closed sales underwent an uptick in December, reaching the highest monthly level since June. Inventory also saw its lowest level since June. Closed sales were down 2.9% compared to December 2009, but pending sales were up 6%. New listings dropped 8.5%. Comparing the previous month of November 2010 with December 2010 shows closed sales jumped from 1,279 to 1,462 (14.3%). However, pending sales fell from 1,426 to 1,210(-15.2%), and new listings dropped from 2,437 to 1,925 (-22.2%).
The average sale price for December 2010 declined 5.2% compared to December 2009. The median sale price also fell 5%. Month to month, comparing November 2010 to December 2010, the average sale price went up from $271,900 to $278,000 (2.2%) while the median sale price dropped from $233,000 to $230,000 (-1.3%). For 2010, average sale price dropped 2.7% compared to 2009, and median sale prices fell 2.9%.
When comparing activity in 2010 with that of 2009, closed sales dipped 0.2%. Pending sales were 2.1% lower, but new listings were up 3.0%. Total sales volume for 2010 was $5.3 billion, down from $5.5 billion in 2009.
Source: RMLS
For the full report, email me!
Portland Monthly Article of Wealthiest Zip Codes
Portland Monthly just published an article of the area’s top 25 wealthiest zip codes. Lake Oswego topped the list. The median home value for Lake Oswego 97034 was $520,901. The article also reported median net worth income, median household income, median disposable income, population, per capita income, and descriped the lifestyle in each zipcode.
Rounding out the top three were West Linn 97068 with a median home value of $445,782, and Portland 97229 with a median home value of $436,519.
For a full PDF of the Portland Monthly article, email me.
November Sales Rise 5.6% from October
Hearing a lot of negativity in the media lately? Well here’s a refreshing piece of news: According to the National Association of Realtors (NAR), November sales rose 5.6% from October in 2010. While sales are still down from November 2009, when there was a rush before the home buyer tax credit expired.. this is still a positive sign in today’s marketplace.
NAR’s Chief Economist, Lawerence Yun claims “The relationship recently between mortgage interest rates, home prices, and family income has been the most favorable on record for buying a home since we started measuring in 1970. Therefore, the market is recovering, and we trend up to a healthy sustainable level in 2011.”
Inventory levels also went down in November from October 2010. It is currently at 9.5 months, which indicates how long it take to deplete the inventory at the current sales rate.
Now is the time to get a sweet deal on a house. Historically, it’s one of the best times to buy a home. If you or someone you know is thinking about buying or selling, please contact me. Don’t miss out on this unique time in our marketplace.
Portland Metro Market Action November 2010
Could these be signs of a leveling out of pricing? Will there be a double dip housing market? Even our country’s best economists cannot answer that fully. Regardless, now is still one of the best times in history to get a great deal on a house with interest rates that are almost guaranteed not to last.
If you or someone you know wants to see some houses–and find out how great of a deal they can get in this economy, please give them my phone number. Smart real estate choices are just a phone call away.
Happy Holidays!
I love catching the holiday spirit! I’m so thankful for all those things that make this holiday season so wonderful. It’s great having a career and a business where I feel rewarded everytime I help a client! Happy Holidays to you and your loved ones!
