Multnomah Village 2010 Sold Homes & Market Trends

Real Estate in Multnomah Village: 2010 Results

Multnomah Village is a hot spot in Southwest Portland & without strong first time home buyer price points in 2010, it just couldn’t hold up to 2009 sales. Surprisingly, this is not in line with Southwest Portland’s real estate 2010 results.
DETAILS:

Without strong first time home buyer listings $350k & under, this price range just didn’t stand a chance in 2010.
-12 Homes over LY translates to -26% decline in sales
Viewing the Market Analyzer below (keep scrolling)–consistent with other neighborhoods, absorption rates and average sales price both rose October through the end of the year.
Sales prices at closing however bounced consistenly through the year between -4% & -9% below the most recent list price.
Other parts of Northwest Portland & Southwest Portland have had stronger results in 2010 in the $350-$500k range…hopefully Multnomah Village is ready for more of that in 2011.
View Home Sales in SW Portland combined stats for all neighborhoods.

Here’s to a much strong 2011!