9:50 AM » DataQuick: April Portland Home Sale Press Release
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Thu, May 31 2012 9:50 AM
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DataQuick
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Portland Region April Home Sales Portland-area home sales rose year-over-year for the 10th consecutive month in April as the portion of sales to investors and other absentee buyers hit a new high. The median sale price inched up from a year earlier for the second month in a row as distressed property sales held at about 40 percent of the resale market, a real estate information service reported. A total of 2,489 new and resale houses and condos closed escrow during April in the five-county Portland-Vancouver-Beaverton metro area. Sales rose 4.5 percent from the prior month and rose 8.4 percent from a year earlier, according to San Diego-based DataQuick. The firm tracks real estate trends nationally via public property records. A sales gain between March and April is normal for the season, with the increase averaging 2.4 percent since 1994, when DataQuick's complete Portland-area statistics begin. This April's sales were still low in a historical context, falling 30.6 percent short of the average sales tally for all months of April since 1994. The median price paid for all new and resale houses and condos that closed escrow in the Portland region during April was $215,000, up 2.4 percent from the prior month and up 1.4 percent from a year earlier. It was the median's third consecutive month-to-month gain and the second consecutive year-over-year increase. April's $215,000 median was the highest for any month since last November, when the median was $218,500. April's median was 25.6 percent lower than the peak $289,000 median in October 2007, and it was 10.3 percent higher than the post-peak trough of $195,000 in January this year. Another price measure analysts track, the median paid per square foot for resale single-family detached houses, rose to $130 in April. That was up 3.2 percent month-to-month and it was the same as a year earlier, marking the first time in 21 months that the median price paid per square foot didn't drop on a year-over...