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Portland's Real Estate Market Surges
Latest data shows movement in the Portland Metro home market.
By: Dan Crider
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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