Portland January 2008 Home Sales
March 14, 2008
Portland region January home sales fell to the lowest level
for any month in at least 14 years. The median sale price posted a small gain
over a year ago but was 5 percent shy of its peak last summer.
A total of 1,993 new and resale houses and condos closed escrow in the
five-county Portland-Vancouver-Beaverton metro area (see
included MSA counties below). That sales total fell 20.3 percent from 2,502 in
December and dropped 32.3 percent below the 2,943 sales in January 2007,
according to DataQuick Information Systems of La Jolla, Calif. The firm tracks
real estate trends nationally via public property records.
The number of homes sold in January was the lowest for any month since at
least 1994, when DataQuick's complete (all home types) Portland region home
sales begin. Last month marked the 23rd consecutive month in which sales have
fallen on a year-over-year basis.
The regional median sale price paid for all homes combined was $275,000 in
January, up 1.9 percent from $269,900 in December and up 2.3 percent from
$268,833 in January 2007. The median peaked at $288,858 last August. For the
past five months the year-over-year change in the median sale price has been
below 3 percent.
Another price gauge, the median price paid per square foot for resale houses,
suggests a bit more weakness in the Portland market. The median price per square
foot fell to $171 in January, down 1.9 percent from a year ago and down 8.6 from
the June 2007 peak of $187.
DataQuick's Portland area statistics reflect sales in Clackamas, Multnomah,
Washington and Yamhill counties in Oregon and Clark County in Washington.
Portland-Vancouver-Beaverton, OR-WA MSA*
|
|
# of
Sales |
Median
Price |
|
Jan-07 |
Jan-08 |
% Chg |
Jan-07 |
Jan-08 |
% Chg |
| Resale houses |
2,077 |
1,327 |
-36.1% |
$265,000 |
$270,000 |
1.9% |
| Resale condos |
179 |
122 |
-31.8% |
$189,900 |
$200,000 |
5.3% |
| New homes |
687 |
544 |
-20.8% |
$289,731 |
$316,705 |
9.3% |
| All homes |
2,943 |
1,993 |
-32.3% |
$268,833 |
$275,000 |
2.3% |
*Data unavailable for Columbia (OR) and Skamania (WA) counties in the
Portland-Vancouver-Beaverton, OR-WA MSA.
Media calls: Andrew LePage (916)456-7157 or John Karevoll (909) 867-9534
Copyright 2005 DataQuick Information Systems. All rights reserved.