Portland Region July Home Sales
A total of 1,935 new and resale houses and condos closed escrow during July in the five-county Portland-Vancouver-Beaverton metro area. July sales fell 35.7 percent from 2,291 sales in June and fell 35.3 percent from 2,993 in July 2009, according to MDA DataQuick of San Diego. The firm tracks real estate trends nationally via public property records.
Last month's sales were 51.8 percent below average for the month of July and were the lowest for a July since at least 1994, when DataQuick's complete Portland-area statistics begin.
The median price paid for all new and resale houses and condos combined in July was $238,000, up 1.3 percent from $235,000 in June but down 0.4 percent from $239,000 a year earlier.
July's median was 17.6 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 28 straight months.
Another price measure analysts track, the median paid per square foot for resale single-family detached houses, inched up a hair last month. Buyers paid a median $150 per square foot, up from $149 in June but the same as a year earlier. July's figure was 22.2 percent lower than the peak $193 median paid per square foot in June 2007.
Sales of foreclosed properties in July represented 20.9 percent of the resale market, up from 17.9 percent in June and up from 15.9 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 15.5 percent of July home sales, while buyers who appeared to have used cash represented 25.5 percent of sales. First-time buyers and others using government-insured FHA loans accounted for 31.8 percent of all homes sold, down from 37.3 percent in June and 38.4 percent a year earlier.
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 |
Jul-09 |
Jul-10 |
% Chng |
| Resale houses |
380 |
189 |
-50.30% |
| Resale condos |
221 |
157 |
-29.00% |
| New homes |
2392 |
1589 |
-33.60% |
| All homes |
2,993 |
1,935 |
-35.30% |
| |
|
|
|
| Median sale
price |
Jul-09 |
Jul-10 |
% Chng |
| Resale houses |
$233,750 |
$238,450 |
2.00% |
| Resale condos |
$166,900 |
$155,000 |
-7.10% |
| New homes |
$244,000 |
$245,000 |
0.40% |
| All homes |
$239,000 |
$238,000 |
-0.40% |
*Data reflect sales in Clackamas, Multnomah, Washington and Yamhill counties in Oregon and Clark County in Washington.
Media calls: Andrew LePage (916) 456-7157
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