Market Action- February 2006

Article February Residential Highlights

The number of homes changing hands in the greater Portland Metro area is up again. When comparing February 2006 to the same month of the previous year, the number of closed sales increased 2.2%. Alternatively, the number of new listings dropped 6.9% and the number of accepted offers decreased a significant 11.3%. See table below. At the end of February 2006, there were 5,503 active residential listings in the Portland Metro area. Given the month’s rate of sales they would take approximately 2.7 months to sell (see table to right).Furthermore, the average time a listing remains on the market in the Portland Metro area continues to shrink–falling 19% from February 2006 (47 v. 58).