Numbers are out from the Regional Multiple Listing Service for the Mt. Hood Area. March 2012 statistics are listed in this chart: New listings are coming on the market fairly quickly as we foresee a very competitive summer coming up this year. Pending sales are way up from a year ago likely reflecting the investors and second home buyers scooping up great homes with incredible prices. Market times are still quite long with 182 day averages for current month sales. With Mt. Hood foreclosures making up 50% of sales this month, the impact on pricing will be downward with more foreclosures hitting the market this year. Oregon has 12.5 months of shadow inventory to get through. (see below RMLS chart)

Market Snapshot for Mt. Hood real estate sales March 2012

 

Oregon Months of Shadow Inventory