February
FEBRUARY 2005 MARKET NEWS

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February Residential Highlights

The lack of snow may have decreased the number of lift tickets purchased on Mt. Hood this winter, but it didn’t hurt the number of transactions in the Portland metro area.  Along with temperatures outside, accepted offers are still on the rise.  Compared to February 2004 pending sales rose 23.4% (see table below).  Closed sales also increased 20.6% and the number of new residential listings was up 6.2% than the previous year.  At February’s current rate of sales, Portland’s flurry of 6,037 active listings would sell in approximately 3 months.  The average time a listing is on the market in the Portland metro area continues to shrink–down 20.6% from last February.

Year-To-Date Trends

Market activity in Portland Oregon through February 2005 was sweet like candy hearts in February 2005. When compared to the same month in the previous year, the number of accepted offers increased 30.5%. Those proposals were closely followed by closed sales–up 28.9%. There were also 9.4% new listings.

Appreciation

To calculate sale price appreciation, prices for the twelve months that ended with February 2005 are compared to prices for the twelve months ending in February 2004.  Using those time periods, the average sale price appreciated 10.3% ($248,800 v. $225,600) in the Portland metro. Using the same date range to compare median sale price we see a 9.8% appreciation rate ($207,000 v. $188,500).

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