RMLS Market Report

Last week the Market Action Report came out for May 2010, I haven't had a chance to blog about it until now. There is good news and bad news, as it is with all real estate news these days. The good news is that the inventory is continuing to drop in Portland- down to 7 months of supply, compared to 12.6 months in January of this year. The bad news is that the median home price in Portland is down 4.4% from May 2009- $239,000 compared to $250,000. My favorite part of the Market Action is the map on pg 6 which shows the median sale price by region. What is median in NE or SE is completely different than Lake Oswego or West Portland. Here's the summary along with the change from May of 2009.

North Portland: May 2010: $234,900 May 2009: $229,000 Difference: +$5,400

NE Portland: May 2010: $248,300 May 2009: $255,000 Difference: -$6,700

SE Portland: May 2010: $214,500 May 2009: $219,900 Difference: -$5,400

West Portland: May 2010: $329,500 May 2009: $367,500 Difference: -$38,000

Beaverton/Aloha: May 2010: $211,500 May 2009: $224,500 Difference: -$13,000

Tigard/Tualatin/Sherwood/Wilsonville: May 2010: $277,000 May 2009: $270,000 Difference: +$7,000

Lake Oswego/West Lynn: May 2010: 358,000 May 2009: $350,000 Difference:  +$8,000

Oregon City/Canby/Molalla/Beavercreek: May 2010: $242,000 May 2009: $220,000 Difference: + $22,000

Milwaukie/Gladstone/Boring/Clackamas/Estacada: May 2010: $260,000 May 2009: $265,000 Difference: -$5,000

Gresham/Troutdale/Sandy/Corbett/Fairview: May 2010: $206,300 May 2009: $223,400  Difference: -$17,100