10-11-2013 05:55 PM

Summer home season ends with a bang


Portland's summer home season ended with a bang as the Regional Multiple Listing Service reported one of the strongest Septembers on record.




The Regional Multiple Listing Service reports one of the strongest Septembers on record for home sales, with new listings, pending sales, closed sales and prices all higher than they were one year ago.
The average sales price in September was $317,300, up 13.9 percent from one year ago though down slightly — 1.4 percent — from August.
There were 2,925 new listings, 11.5 percent more than one year ago and 2,219 pending sales, a 15.5 percent increase from one year ago. In all, 2,158 home sales closed in September, 17.7 percent more than a year ago.
It took 72 days on average to sell a home in September, three days slower than August but 29.5 percent faster than the same month in 2012.
“Portland’s real estate activity has tapered seasonally from this summer’s hot activity, but numbers continue to be very strong,” it said.
The month ended with a 3.7-month inventory of unsold homes, its highest level since February’s 4.5-month posting.
Wendy Culverwell covers real estate, retail and hospitality.


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