Pending Sales, Home Prices Continue to Climb
According to statistics from the Regional Multiple Listing Service (RMLS), the number of homes with an accepted offer rose nearly 15% in May 2011 as compared to April.
And, looking at year over year numbers, pending sales were up more than 61% in May 2011 from May 2010.
Last month’s jump in under contract homes was the fifth consecutive monthly increase in pending sales. The number of pending sales in May 2011 was the highest its been since April 2010.
Home Prices Keep Inching Up
The average median sold price edged up nearly half a percent in May 2011 as compared to April 2011. The rise was the third consecutive monthly increase.
After reaching a low of $214,500 in February 2011, the median sales price climbed nearly 3% to $220,894 in May.
A steady improvement in the Oregon unemployment rate is likely contributing to the improvement in the housing market. Oregon unemployment was 11% in January 2011 and stands at 9.5% in April 2011.
(click on the table above to see it full size)
This report is developed monthly by RE/MAX equity group 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.
Congratulations to RE/MAX equity group Sunnyside branch manager Larry Sievers on being selected as the Managing Broker of the Year by the Portland Metropolitan Association of REALTORS’ Million Dollar Club!
Larry has been a managing broker for more than 32 years, the last 13 with RE/MAX equity group. His office has 65 brokers and closed more than $160 million last year. Part of that success is because Larry is a great broker, trainer, and leader.
His REALTOR involvement has been with PMAR, the Oregon Association of REALTORS, and the National Association of REALTORS. He has been both a Local and a State Director and served on the Grievance and Professional Standards committees and chaired the Grievance committee. He was also the President of the Oregon State CRB (Certified Residential Broker) chapter. He holds the GRI, CRS, CRB, and FACS designations.
Larry was first licensed as a Realtor in 1976 at J.S. Pounder, came to Stan Wiley in 1978 as a Manager. In 1981, he opened his own brokerage, The Real Estate Marketplace, which merged with RE/MAX equity group in 1998. In addition to managing at RE/MAX equity group, Larry has developed a Leadership Training Program for the company and been very involved with community activities, particularly Komen Race for the Cure and Northwest Medical Teams.
Larry grew up in Salem, Oregon and went to South Salem High School, where he became the State High School Bowling Champion. That achievement earned him a scholarship to Oregon State University. He graduated in 1969 with a Bachelor of Arts in English and married his Gayle, his high school and college sweetheart, a few days later. They have been married for nearly 42 years and the joy of their lives are their two sons and grandchildren.
Larry received his master’s degree from Lewis and Clark in 1972 and taught English at David Douglas for seven years and also served in the National Guard for six years.
We are so proud of you Larry!
Pending Sales Inch Up
According to statistics from the Regional Multiple Listing Service (RMLS), the number of homes with an accepted offer inched up 0.35% in April 2011 as compared to March 2011. Although small this month, the gain is the fifth consecutive monthly increase in pending sales.
Homes are selling faster
The average days on market of sold homes fell more than 3% in April 2011 as compared to the previous month and was down by a week compared to April 2010.
Median Sales Price May Be Stabilizing
The median sales price fell by just $1,000 in April 2011 as compared to March 2011. The tiny decline may be an indication that prices are stabilizing.
(click on the table above to see it full size)
This report is developed monthly by RE/MAX equity group and is based on information from The Regional Multiple Listing Service (RMLS) for the period stated above. Residential properties only in RMLS areas 11-82.
Pending Sales, Prices Inch Up
According to statistics from the Regional Multiple Listing Service (RMLS), the median sales price rose 1.6% in April 2011 as compared to March 2011.
The gain is the second consecutive monthly increase in the median price and comes at the beginning of the traditional real estate sales season.
Pending Sales Climb
The number of homes with an accepted offer rose more than 4.4% in April 2011 as compared to the previous month. The increase is the fourth consecutive monthly jump in under contract homes.
Inventory Falls to Two Year Low
The gain in pending home sales combined with the decline in the number of homes on the market brought the months supply of inventory to its lowest level in two years, 5.7 months.
The months supply simply gauges how long it would take to sell the existing inventory of homes, given the current sales pace.
Generally, a market equally balanced between buyers and sellers has a five to six month supply.
(click on the table above to see it full size)
This report is developed monthly by RE/MAX equity group 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.
Under Contract Homes Climb 45%
According to statistics from the Regional Multiple Listing Service (RMLS), the number of homes with an accepted offer jumped more than 45% in March 2011 as compared to February 2011. The increase marked the fourth consecutive monthly rise in the number of pending sales.
Home sales Jump More Than 30%
The number of homes sold in March 2011 rose 30.89% compared to the previous month. March’s 411 sales was the highest number of sales since September 2010, when sales reached 422.
Homes selling faster
The average days on market of sold homes shed nearly a week in March 2011 compared to last month.
(click on the table above to see it full size)
This report is developed monthly by RE/MAX equity group and is based on information from The Regional Multiple Listing Service (RMLS) for the period stated above. Residential properties only in RMLS areas 11-82.
Sales Up 40%: Signs Point to Strong Spring
According to statistics from the Regional Multiple Listing Service (RMLS), home sales jumped nearly 40% in March 2011, compared to February 2011. It was the second consecutive monthly increase in home sales in the Portland area.
Homes also sold faster in March, the average days on market dropping to 97 days from 101 days.
Pending sales climb nearly 35%
Pending sales increased nearly 35% in March as compared to the month before. March’s increase marked the third consecutive monthly rise in the number of under contract homes, which is an important indicator of future sales.
Sales price inches up, fewer homes on market
The median sales price edged up to $215,000 in March as compared to $214,250 in February.
And, the number of homes for sale dropped from both the month and year before.
All of these positive statistics point to a stronger spring real estate market, traditionally one of the busiest times of the year to buy and sell a home.
(click on the table above to see it full size)
This report is developed monthly by RE/MAX equity group 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.
The Salem Association of REALTORS® chose Don Meyer from our Salem Business Center office as their 2011 REALTOR® of the Year.
Don was nominated for his integrity, his unselfish nature, his enthusiasm, and his can-do attitude. His worth ethic goes beyond his real estate career to his personal life. From ringing bells for the Salvation army to power washing parks to rescuing abandoned dogs, he is like the Energizer Bunny with a real live heart.
He gives generously of his time to support the industry. Don is the past president of the Salem Association of REALTOR® and has also served on their Board of Governors. He volunteers in the community as well, serving on the Board of Directors of the A.C. Gilbert Discovery Village.
Congratulations Don! We are grateful for all you give and are very proud of you.
Pending Sales Climb for Second Month
According to statistics from the Regional Multiple Listing Service (RMLS), the number of homes with an accepted offer rose for the second consecutive month of the New Year.
Under contract homes increased 13.52% in February 2011 as compared to January 2011. And, in January, the numbers were up 29% from December 2010.
Normally, this time of year is slow for real estate sales. This non-traditional activity two months in a row is extremely encouraging for the Portland housing market.
Lower Prices Mean Higher Affordability
The median sales price in February 2011 was down less than 1%, as compared to the month before, bringing affordability in the Portland area to its highest since September 2003, when RMLS began tracking affordability.
(click on the table above to see it full size)
This report is developed monthly by RE/MAX equity group 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.
Pending Sales Climb for the Third Month
According to statistics from the Regional Multiple Listing Service (RMLS), the number of homes with an accepted offer rose for the third consecutive month.
Under contract homes increased 15.5% in February 2011 as compared to January 2011. In January, the numbers were up 12.77% from December 2010 and December 2010’s pendings were up nearly 2% over November 2010.
Normally, this time of year is slow for real estate sales. This non-traditional activity three months in a row is extremely encouraging for the Vancouver housing market.
Looking Ahead
Many experts believe that interest rates may start to creep up in the months ahead, as the home buying season begins in late spring.
(click on the table above to see it full size)
This report is developed monthly by RE/MAX equity group and is based on information from The Regional Multiple Listing Service (RMLS) for the period stated above. Residential properties only in RMLS areas 11-82.
