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.
The Portland Metropolitan Association of Realtors® (PMAR) named Wilma Caplan and Doris Cherachanko, both from RE/MAX Equity Group’s West Hills office, their 2011 Realtors® of the Year at their February 14th membership event. The PMAR Realtor® of the Year award is the highest honor bestowed by PMAR, and recognizes service to the Realtor® association, community involvement, and business accomplishments over the recipients’ careers.
Wilma Caplan was licensed in 1972 and is well known throughout the real estate industry as the co-founder of Cronin and Caplan, which later became Windermere Cronin & Caplan Realty Group. Now with RE/MAX Equity Group, Wilma continues her long history of involvement with PMAR with her current volunteer activities as Local Director and State Director. Wilma has served as the 1992 Portland Board of Realtors® (PBR) President, chaired the Risk Management Committee, the Governmental Affairs Committee, as well as numerous task forces. She received the PMAR Million Dollar Club Broker of the Year award in 1998 and is a past recipient of the PBR Realtor® of the Year Award. In addition to her work with PMAR, Wilma has also served as a Regional Multiple Listing Services Director and an Oregon Real Estate Forms Company Manager. She has served on the Board of Directors for Boys and Girls Club, Emanuel Hospital and Children’s Hospital, and Legacy Health Systems.
Doris Cherachanko was licensed in 1972 and is a broker with RE/MAX Equity Group. She currently serves as a PMAR Local Director and State Director. Her industry accomplishments are numerous and include serving as Chairman of the PMAR PAC Trustees, and much more. In 2005, Doris received PMAR’s Distinguished Service Award for her committed volunteer efforts. She was named the 1988 WCAR Realtor® of the Year and is a life member of the PMAR Million Dollar Club.
Congratulations Doris and Wilma! We are so proud of you.
Under Contract Homes Climb 12%
According to statistics from the Regional Multiple Listing Service (RMLS), the number of homes with an accepted offer rose more than 12% in January 2011 as compared to December 2010.
The under contract figure for January 2011 also rose compared to January 2010, climbing nearly 4%. That fact is particularly encouraging since consumers in January 2010 had the incentive of the Homebuyer Tax Credit to entice them to buy homes at the start of last year.
Inventory Drops
The rise in homes with an accepted offer drove the available inventory to 8.7 months in January 2011, the lowest inventory has been since April 2010, when it was 6.1 months.
(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 Soar, Fewer Homes on Market
According to statistics from the Regional Multiple Listing Service (RMLS), the number of homes with an accepted offer jumped more than 29% in January 2011 as compared to December 2010. And, that number was up more than 7% when compared to January 2010.
Pending sales are considered the best indicator of market activity, and the fact that they increased both month over month and year over year is very encouraging.
The Homebuyer Tax Credit was available in January of 2010, when many homebuyers were snapping up great deals. Now, even without the incentive to tempt them, increasing pending sales show buyers are still motivated.
Inventory Falls to Lowest Level in 9 months
The rise in homes under contract created a drop in the number of homes on the market. The Months Supply of Inventory, or the number of months it would take to sell the existing supply, fell to 7.8 months in January 2011.
That’s the lowest the inventory level has been since April 2010, when it was 5.8 months.
Traditional Holiday Drop
The drop in overall home sales from December to January is due to normal seasonality in the market. January usually sees the fewest sales of any month of the year.
(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.
