Close-in West Side Portland Statistics for July 08

As you can see from the graph below, the situation on the West side of Portland may not be as alarming as the industry pundits would have us believe.

Close-in Portland's West Side currently has 587 *listings. 77 "went pending" in July, which leaves us with a 7.6 month supply. It's generally considered a Buyers' Market when we have 6+ months of inventory, so the conditions aren't as lopsided as you may think.

Well priced homes in good areas are still selling fairly quickly and the average number of days on the market is 56.

The average sale price last month was $582,000, the price per square foot averaged $228, and the median sale price was $415,000.


Date

5/07 6/07 7/07 8/07 9/07 10/07 11/07 12/07 1/08 2/08 3/08 4/08 5/08 6/08 7/08

For
Sale

361 391 429 489 512 495 455 399 400 420 462 501 539 567 587

Sold

97 116 109 87 64 69 67 60 40 64 64 52 95 71 75

Pended

100 104 83 64 74 80 50 47 64 57 56 90 74 84 77

Months of Inventory based on Closed Sales
3.7 3.4 3.9 5.6 8 7.2 6.8 6.7 10 6.6 7.2 9.6 5.7 7.9 7.8

Months of Inventory based on Pended Sales
3.6 3.8 5.2 7.6 6.9 6.2 9.1 8.5 6.3 7.4 8.3 5.6 7.3 6.7 7.6

Avg. Active Price
766 782 728 700 664 667 679 729 721 726 693 718 739 726 715

Avg. Sld Price
544 541 531 505 526 591 460 568 458 448 510 458 455 493 582

Avg. Sq. Ft. Price
222 215 220 221 220 228 204 224 194 198 208 207 203 201 228

Sold/List Diff. %
100 97 98 98 97 93 97 95 95 97 97 98 97 97 95

Sold/Orig LP Diff. %

99 95 97 97 94 94 95 92 91 93 93 96 95 94 93

Days on Market

38 49 31 42 52 42 49 58 61 85 78 59 53 57 56

Median Price
426 418 440 424 457 475 380 376 395 391 422 379 395 400 415

* this is for houses only, not condos, and includes both new construction and resale homes.

Also, sorry about this formatting. I've tried several times and blogger messed up the columns... we'll get right eventually!