January home sales hit recent high
- Matthew Kish [1]
- Business Journal staff writer- Portland Business Journal
Homes sales climbed nearly 10 percent in Portland in January to 1,344, according to new data from the Regional Multiple Listing Service, another sign that Oregon's economy continues a steady improvement.
January home sales haven't been that high since climbing to 1,594 in January 2007, the year the housing bubble popped.
The average sale price climbed 15.5 percent in the last year to $287,700. The median price climbed 19.5 percent to $248,000.
The inventory of homes for sale remains low, which is good news for sellers.
There are enough homes on the market to meet current demand for 4.7 months, up from 3.6 months in December[2]. Six months is considered a healthy inventory.
The average home sold in January was on the market 114 days, a 16 percent drop from January 2012.
Pending sales climbed less than 5 percent to 1,906. New listings dropped nearly 7 percent to 2,438.
Matthew Kish covers banking, finance and higher education.
References
- ^ Matthew Kish (feeds.bizjournals.com)
- ^ up from 3.6 months in December (www.bizjournals.com)