The local housing market continued to show annual improvement in November, despite a month-to-month cool-down indicating the industry’s slowest time of the year has arrived.
Portland-based RMLS reported 439 closed sales in November, up by a slight 2.6 percent over the 428 houses sold in the same month a year ago, but down by 14.6 percent from October. Home prices, meanwhile, continued to rise in November, which showed the median price — half sold for more, half for less — increased by 10.6 percent to $225,000. It compared with a median of $203,500 during the same month last year. November’s median was just 2.4 percent higher than October’s median of $219,700.
The month-to-month drop in sales occurs naturally as the holidays approach, said Mike Lamb, a Vancouver real estate broker with Windermere Real Estate/Stellar Group.
“Usually right after the holidays it will start to pick up again and build steam through the spring. That’s been the pattern for as long as I’ve been in the business,” said Lamb, whose real estate career spans more than 33 years.
