About NW Real Estate

According to statistics from the Regional Multiple Listing Service (RMLS), the number of homes that went under contract in April 2010 jumped 48% over the same month last year, and nearly 9% over March.

And, while sales did see a 25% drop month over month, the increase in homes under contract, and the decrease in available inventory shows that Portland now has a balanced real estate market.  

There is now just a 5.6 month supply of available homes on the market.  A balanced market is considered to be 5-6 months of inventory, and is an indication that the number of buyers and sellers have equalized.    

Median Sales Price Inches Up

The median sales price for April 2010 inched up 0.2% compared to March 2010. The median price of $240,375 was the highest it’s been since December 2009.

Homes Selling Faster

In April 2010, homes sold more than 7% faster than in March 2010, dropping to 77 days on market and down more than 9% compared to a year ago.

This report is developed monthly and is based on information from The Regional Multiple Listing Service (RMLS) for the period stated above. Residential properties only in RMLS areas 141-156.