Jody Patton's Executive Summary

Monday May 31, 2010

PORTLAND, OR
Single Family Homes

This Week
The median list price in PORTLAND, OR this week is $299,000. The Market Action Index has been trending down lately, while inventory is climbing. These trends imply a weakening market.

Real-Time Market Profile Median List Price $ 299,000 Asking Price Per Square Foot $ 156 Average Days on Market (DOM) 132 Percent of Properties with Price Decrease 47 % Percent Relisted (reset DOM) 16 % Percent Flip (price increased) 3% Median House Size (sq ft) 2097 Median Lot Size 4,501 - 6,500 sqft Median Number of Bedrooms 3.0 Median Number of Bathrooms Market Action Index Strong Buyer's 2.0 17.9

Trend == ≠≠ ±+

Supply and Demand
In terms of supply and demand, the market is getting cooler - more supply is coming on the market relative to the sales demand. However, in recent weeks prices have been moving higher. Since it is technically a Buyer's market, this price trend may be a result of improved quality (newer, larger homes) of the homes being listed. Look at the descriptive statistics where you may notice the homes being listed are larger and younger than they have been in the past.

≠≠

±+

No change

== Strong upward trend ≠≠ Strong downward trend = Slight upward trend ≠ Slight downward trend

Price
This week saw relatively little price change from last week. However, prices continue demonstrate a nice up trend in general over the last several weeks.

Market Action Index

Price Trends

7-Day Rolling Average

90-Day Rolling Average

Buyer/Seller Cutoff

The Market Action Index answers the question "How's the Market?" By measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.

Quartiles
Quartile Top/First Upper/Second Lower/Third Bottom/Fourth
Median Price Sq. Ft. Lot Size
8,001 10,000 sqft 4,501 6,500 sqft 4,501 6,500 sqft 4,501 6,500 sqft

7-Day Rolling Average

90-Day Rolling Average

Characteristics per Quartile

Investigate the market in quartiles where each quartile is 25% of homes ordered by price.
Most expensive 25% of properties Upper-middle 25% of properties Lower-middle 25% of properties Least expensive 25% of properties

Beds

Baths

Age Inventory New Absorbed DOM

$ 599,500 $ 354,500 $ 249,900 $ 170,000

3232 2293 1744 1244

4.0 3.0 3.0 3.0

3.0 2.5 2.0 1.0

38 54 52 56

962 963 963 963

65 78 65 64

47 52 48 63

146 121 126 135

Jody Patton | Ticor Title | 503.219.2163

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