November
NOVEMBER 2005 MARKET NEWS

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November Residential Highlights

The month of November 2005 ushered in the holiday season and frigid temperatures, but neither event seem to have any impact on diminishing the impressive activity in Portland’s metro area. As you can see in the table below, both new listings and closed sales increased when compared to November 2004. New listings grew by 7.9% in November 2005. November 2005’s closed sales also outpaced those of November 2004 by 8.1%. All the while, pending sales decreased by a slight 0.3%. At November’s rate of sales the 5,852 active residential listings at the end of the month, the Portland metro area’s inventory, would last approximately 2.2 months.

Year-To-Date Trends

With only a month left in 2005, the year’s trends continue to remain positive. New listings are up 6.4% from their total at this time in 2004 (see Year-To-Date rows in the table below). Pending sales exhibit a similar rate of growth, growing by 12.1%. Closed sales went slightly further, increasing by 14.3% when comparing January-November 2005 to January-November 2004.

Appreciation

When we compare the average sale price for December 1, 2004 through November 30, 2005, to the twelve months prior the appreciation rate is up 14.6% ($280,000 v. $244,300). Using the same date ranges and formula median sale price appreciated 16.0% ($234,900 v. $202,500).

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