Portland's Real Estate Market Surges

April 12, 2012 - PRLog -- The drumbeat in the Lake Oswego/West linn Oregon housing market sounded a little louder during the month of February.  The Portland Multiple Listing Service reported that February 2012 pending sales compared to February 2011 were up an impressive 48.8%.  There were 62 closed transactions with an average sales price of $397,000 in this area during the reporting month.  
Dan Crider, broker with the Premiere Property Group in Lake Oswego, said that this reflects an area wide trend of improvement in home sales.  Crider also reported that the home inventory is only 6.5 months.  He said this number is calculated by dividing the active listings at the end of the month by the number of closed sales for the month.  
The average sales price in the Portland Metro area during February went up from $249,00 to $255,000 which is a 2.4% increase.  Crider noted that the industries numbers don't tell the whole story.  He explained that the best source of information is often the gas station attendent, the grocery  checker,  or other people that express their perspective about where they live and their confidence in the future.
A complete residential market activity report is available at the RMLS (Regional Multiple Listing Service) office.  Crider said that he looks forward to the March report which will tell if this positive activity is continuing.

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