2009 RESIDENTIAL REVIEW
Metro Portland, Oregon
December Residential Highlights
The year ended quietly as sales activity in the Portland metro continued to slow. However, the level of inventory dropped after reaching a record high in November.
The number of closed sales (987) hit its lowest point since February 1992 (905). Pending transactions (810) were at a record low since RMLS began reporting in 1992, the previous record was 845 in December 1994.
Comparing December 2008 with December 2007, closed sales fell 34% and pending sales dropped 34.2%. New listings also decreased 17.4%.
At the month’s rate of sales, the 13,882 active residential listings would last 14.1 months if no new listings were to enter the market. That is a slight decrease from last month’s record high of 15 months.
2008 Summary
Comparing market activity in 2008 with 2007, new listings decreased 8.7%. Pending sales dropped 30.8% and closed sales fell 32.1%.
At $6.3 billion this year, total sales volume dropped 35% from 2007’s $9.7 billion.
Fourth Quarter Summary
Comparing the fourth quarter of 2008 with that of 2007, new listings fell 20.3% (8,326 v. 10,450*). Closed sales, on the other hand, dropped 32.1% (3,598 v. 5,298) and pending sales fell 35.8% (3,061 v. 4,766).
© Copyright RMLS™ 2009. All Rights Reserved.
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Animal House >House Odors
What is "H.O."? You can probably guess--it means "home odors".
Be careful of odors in your home. If your family room smells stuffy and stale, or if your cat or dog has left a distinctive odor in the hallway, take action by eliminating the source of the odor rather than merely treating the effects. Smells have a powerful effect on the way people react to a house, and no amount of room freshener or vanilla on the light bulbs can mask a serious odor problem. In fact, such remedies may draw attention to the problem. We have seen homes with an odor problem languish unsold on the market for months or sell for significantly less than comparable homes in the neighborhood.
If you think that you may have a problem, talk candidly with your real estate agent. Your agent should be able to offer some constructive suggestions, and perhaps refer you to a professional who can help banish H.O. from your home!
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| Q |
What real estate board game became the best-selling game in America just one year after it was created?
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| A |
Charles B. Darrow invented Monopoly in 1934, to cheer himself up while unemployed during the Great Depression. Monopoly is now the most popular board game in the world and has sold over 200 million copies. |
 See More Real Estate Trivia > |
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