OR: Portland Real Estate Has Another Difficult Month

Gay Portland Real EstateFebruary was another dismal month in residential real estate with deep declines in new listings, pending sales and prices.

The median home sales price in the Portland metro area finished the month at $213,700, down 9.1 percent from February 2010, according to the Regional Multiple Listing Service’s monthly Market Action report.

The average sales price for the month was $244,500, the lowest number since summer 2004. New listings hit 2,883 in February, down 26.1 percent from a year ago. Pending sales decreased 13.9 percent to 1,592.

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