I received the latest market reporting from our local multiple listing service a couple of days ago, and I wanted to share a few things.

The total inventory in the Portland Oregon metro area stands at 10.5 months.  This means that at the current rate of sales, it would take 10.5 months to sel all of the houses on the market if no new properties were listed.  One year ago the inventory was 7.6 months, which shows that more houses are on the market and that inventory is building, not a good thing for home sellers.

Prices are also down from a year ago.  The average sale price in September was $279,900, down 3.5% from a year ago.

These numbers are for the metro area as a whole.  Each area and neighborhood is different, so please let me know if you would like to see information for your specific area.  Portland Oregon Foreclosures and Short Sales are still a big part of the market, and wil continue to be so for a while.  The upside of this information is that there are great opportunities for home buyers.

To learn more about the market, or for any information abut Portland Oregon Real Estate, please visit the website of Portland Oregon Foreclosures expert Adam Highton.