Portland Region June Home Sales
A total of 3,008 new and resale houses and condos closed escrow during June in the five-county Portland-Vancouver-Beaverton metro area. June sales rose 5.2 percent from 2,859 in May and increased 11.3 percent from 2,703 in June 2009, according to MDA DataQuick of San Diego. The firm tracks real estate trends nationally via public property records.
Sales were the highest for a June since 2007, but they were still 30.8 percent below the June average and the third-lowest for a June since 1994, when DataQuick's complete Portland-area statistics begin.
The median price paid for all new and resale houses and condos combined in June was $235,000, up 2.2 percent from $230,000 in May but down 2.9 percent from $242,000 a year earlier.
June's median was 18.7 percent lower than the Portland area's peak $289,000 median in October 2007. The overall median has fallen on a year-over-year basis for 27 straight months.
Another price measure analysts track, the median paid per square foot for resale single-family detached houses, fell in June to $144. That was down 2 percent from $147 in May and down 3.4 percent from $149 a year earlier. June's figure was 25.3 percent lower than the peak $193 median paid per square foot in June 2007.
Sales of foreclosed properties in June represented 18 percent of the resale market, down from 18.8 percent in May and 18.6 percent a year earlier. So far, the peak for foreclosure resales was 28.5 percent of the resale market in February this year.
Absentee buyers, a group that includes investors, accounted for 14.4 percent of June home sales, while buyers who appeared to have used cash represented 21.1 percent of sales. First-time buyers and others using government-insured FHA loans accounted for 37.4 percent of all homes sold.
The Portland metro area statistics in this report and the table below reflect sales in Clackamas, Multnomah, Washington and Yamhill counties in Oregon and Clark County in Washington.
Portland-Vancouver-Beaverton, OR-WA MSA*
|
Number of sales |
Jun-09 |
Jun-10 |
% Chng |
| Resale houses |
371 |
490 |
32.10% |
| Resale condos |
180 |
227 |
26.10% |
| New homes |
2152 |
2291 |
6.50% |
| All homes |
2,703 |
3,008 |
11.30% |
| |
|
|
|
| Median sale
price |
Jun-09 |
Jun-10 |
% Chng |
| Resale houses |
$249,700 |
$249,925 |
0.10% |
| Resale condos |
$175,000 |
$143,950 |
-17.70% |
| New homes |
$245,000 |
$239,000 |
-2.40% |
| All homes |
$242,000 |
$235,000 |
-2.90% |
*Data reflect sales in Clackamas, Multnomah, Washington and Yamhill counties in Oregon and Clark County in Washington.
Media calls: Andrew LePage (916) 456-7157
Copyright 2010 MDA DataQuick Information Systems. All rights reserved.