Monday, January 26, 2009

Monthly Market Update for West Portland (area 148)

December 2008 Market Statistics for West Portland
(zip codes 97201, 97204, 97205, 97209, 97210, 97219, 97221, 97223, 97225)

Active Residential Listings 777
Pending Residential Sales 55
Sold / Closed Listings 53
Median Sold Price $357,000
Average Active Listing Price $646,000
Average Sold Price $400,000
Average Price/Square Foot $164
Sold/Listing Price % 92%
Days on Market 90

Looks kind of bleak, but here's the good news:
The phone has been ringing off the hook in January. Our principal broker reports that there have been 4 transactions per day crossing her desk, and things are starting to budge. I have had about eight people call me to list their homes and I'm working with approximately five active buyers. This was not the case in December! (as you could tell by my blog filled with cooking and partying pictures)

So stay tuned for January's numbers. I predict an upswing, and I'll also go on record to predict a beautiful spring thaw in our market, and real estate moving at a regular pace come fall.

I'll be posting market updates every month on this blog - and will do the close-in east side as well. If you'd like me to drill down to your neighborhood information, just let me know - I can customize this down to one zip code.

Have a great week!

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