While we have seen a slow down in the last few months, it definitely is not a freefall. We are starting to see a rough consistent variance between last year and this year. September 2016 compared to September 2015 has seen a decline in 10.8% sold homes. August year over year saw a 7.4% decline. July year over year was the biggest drop with over 20% year over year. We are seeing 6.8% more homes listed in September compared to last September increasing our inventory levels to 1.9 months of inventory. We are starting to see the average sales price decline. $463,096 was the highest average sales price which was in May, 2016. September, the average price has dropped to $430,309 in the Portland metro area. This drop is common going into the Fall season and we are 9.9% higher than last September.
Data based off areas – 141, 142, 143, 148
(slight differences in data pulled from last newsletter due to updates in the data)