Residential real estate sales tick up in several areas, inventory down
This month’s RMLS™ Market Action report showed a trend of increasing real estate sales & subsequently lower housing inventory in many areas of Oregon & Southwest Washington.
Closed sales rose in the following areas this month, compared to the same month in 2008:
|Curry County, Oregon||100%|
|Columbia Basin, Oregon||36.6%|
|Lane County, Oregon||23.2%|
|Clark County, Washington||20.2%|
|Portland Metro, Oregon||9.8%|
Third Quarter Sales Up:
September marked the end of the third quarter and compared to Q3 in 2008, Coos County, Curry County, Douglas County, Lane County, Portland and Clark County all saw sales outpace Q3 in 2008. Clark County led the pack at a clip of 18.7%.
Ten of eleven areas that we cover in the Market Action report saw housing inventory drop from August. This can be attributed to rising sales in several areas and as we head into the slower fall & winter seasons, fewer homes are being listed as well.
Both the Portland and Clark County areas saw inventory drop to 7.6 months. Lane County has the lowest inventory of the areas we cover at 6.8 months.