Beaverton Home Sales Market Action- January

 

The Market Action for the Portland and Beaverton area home sales for January 2012, per the RMLS is as follows:  The year has started off on a positive note.  Sales activity in the Portland Metro area continues to show improvements in closed and pending sales comparing this January to the same month a year ago.  Closed sales showed an increase of 18.3%, posting the highest numbers for January 2007.  Pending sales saw growth of 22.4% in the same comparison.  Market time also improved, decreasing from 160 to 136 days.  There were 16.5% fewer newly listed residential properties.  At this month’s rate of sales, the 8,514 active residential listings would last approximately 7.0 months, down from 11.3 months in January 2011.  The average sale price of $249,100 for January 2012 was virtually the same as the $248,900 posted in January 2011.

 

Comparing the pending sales with the previous 12 months change is as follows; Beaverton home pending sales are up 31.7%, Tigard pending sales are up 47.1%, Hillsboro / Forest Grove pending sales are up 92.1%, Lake Oswego pending sales are up 12.8%, SE Portland pending sales are up 22.2%, NE Portland pending sales are up 45.5% and Gresham / Troutdale pending sales are down 13.5%.  Average total market time measured by days is as follows; Beaverton 154, Tigard 166, Hillsboro 145, Lake Oswego 176, SE Portland 110, NE Portland 109 and Gresham / Troutdale 121. Rates continue to stay low around 4%.

 

Hopefully this current Market Action update will help you to better understand where we are in the current real estate market.  Location is proving to be the #1 need on buyer’s lists.  Price is a top factor in getting buyer’s through the door and making an offer.  Functionality of the floor plan and the yard are also important to buyers.

What Clients Are Saying About Gary Potts:

“We wanted to thank you for all you did to help us sell our home and move into the amazing home we have now. We put our house on the market, not in a rush and aware of the slow moving market – we had no idea we would have an offer in less than 2 weeks! Your knowledge and guidance through getting the house ready, and even preparing us for the roller coaster of emotions along the way, really helped the process run smoothly. We could tell you were definitely in our corner with both your “Seller” and “Buyer” hats. We learned a great deal from you and are grateful for your time and effort with us. After taking us through about 20 homes, we finally found the perfect one. You assisted with the offer and were more than prepared to assist us through the closing and our requests for repairs. Gary, your professionalism, knowledge, energy and dedication truly makes you an outstanding Realtor and we are thrilled to have had you along the way”. Amy and Jason

Beaverton in Transition Market

 When we look at the zip code in Beaverton of 97007 inventory is tightening and days-on-market is falling.  The Market Action Index shows demand heating up.  These are relatively bullish signs for prices.

Home sales have been exceeding new inventory for several weeks.  Since this is a Buyer’s market prices are not yet moving higher as excess inventory is consumed.  However, as the supply and demand trends continue, the market moves into the Seller’s zone, and we are likely to see upward pressure on pricing.

Looking at the zip code in Beaverton of 97005 home sales have been exceeding new inventory for several weeks now.  We continue to see prices in the zip code bouncing around this plateau.  Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.

If you should have any questions about the market in your area don’t

hesitate to give Gary a call.

Beaverton Home Sales Market Action- December

 It appears we are in a transitioning market.  Inventory is at an approximate 5 year low, less listings continue to come on the market and the market continues to see sales up. 

 The current Market Action for the Portland and Beaverton area home sales for December 2011 is in and it’s looking good. Sales activity in the Portland Metro area continue to show improvements in closed and pending sales.  Closed sales showed an increase of 10.3% in December 2011 compared to December 2010.  Pending sales rose 19.3%, however there were 11.7% less newly listed residential properties.  At this month’s rate of sales, the 8,612 active residential listings would last about 5.3 months, down from 7.9 months in December 2010.  The average sale price in December 2011 fell 6.2% when compared to November 2010, while the median declined 5.8%.  Compared to November 2011, the average sales price rose 0.5% for the second month in a row.

 Comparing the pending sales with the previous 12 months change is as follows; Beaverton home pending sales are up 20.0%, Tigard pending sales are up 33.3%, Hillsboro / Forest Grove pending sales are up 46.8%, Lake Oswego pending sales are up 27.3%, SE Portland pending sales are up 13.9%, NE Portland pending sales are up 10.9% and Gresham / Troutdale pending sales are up 12.5%.  Average total market time measured by days is as follows; Beaverton 116, Tigard 164, Hillsboro 149, Lake Oswego 166, SE Portland 112, NE Portland 139 and Gresham / Troutdale 149. Rates continue to stay low around 4%.

 Hopefully this current Market Action update will help you to better understand where we are in the current real estate market.  If this trend continues then 2012 should be a good year compared to the last 4 years.  It is still a buyer’s market and buyers continue to be picky.  Keep in mind price and presentation is what’s still selling homes. 

 

 

 

 

Beaverton Home Sales Market Action – November

It’s been a warm winter so far and the Real Estate market is following the warming trend.

The current Market Action for the Portland and Beaverton area home sales for November 2011 is as follows. Sales activity in the Portland Metro area continue to show improvements in closed and pending sales.  Closed sales were up 18.9% in November 2011 compared to November 2010.  Pending sales rose 18.2%, while there was 18.1% less newly listed residential properties.  At this month’s rate of sales, the 9,451 active residential listings would last about 6.2 months, down from 10.2 months in November 2010.  This is the lowest active listing count in the last three years.  The average sale price in November 2011 fell 4.6% when compared to November 2010.

Comparing the pending sales with the previous 12 months change is as follows; Beaverton home pending sales are up 30.6%, Tigard pending sales are up 64.4%, Hillsboro / Forest Grove pending sales are up 26.2%, Lake Oswego pending sales are up 33.3%, SE Portland pending sales are up 15.8%, NE Portland pending sales are up 12.9% and Gresham / Troutdale pending sales are up 20.6%.  Average total market time measured by days is as follows; Beaverton 131, Tigard 139, Hillsboro 141, Lake Oswego 179, SE Portland 124, NE Portland 108 and Gresham / Troutdale 135. Rates continue to stay low around 4%.

Hopefully this current Market Action update will help you to better understand where we are in the current real estate market.  Keep watching the inventory, if it continues to decline at the same rate it is now for several more months this will put additional pressure on pricing. 

Beaverton Home Sales Market Action – October

We continue to see positive numbers in regards to closed and pending sales.  Inventory continues to decline comparing October 2010 to October 2011. 

The current Market Action for the Portland and Beaverton area home sales for October 2011 are as follows. Sales activity in the Portland Metro area continued to show improvements in closed and pending sales.  Closed sales were up 14.1% in October 2011 compared to October 2010.  Pending sales saw a rise of 15.1%, while there was 22% less newly listed residential properties.  At this month’s rate of sales, the 10,012 active residential listings would last about 6.8 months, down from 10.7 months in October 2010.  The average sale price in October 2011 fell 6.5% when compared to October 2010.

Comparing the pending sales with the previous 12 months change is as follows; Beaverton home pending sales are up 32.9%, Tigard pending sales are up 39.7%, Hillsboro / Forest Grove pending sales are up 26.3%, Lake Oswego pending sales are up 29.8%, SE Portland pending sales are up 10.8%, NE Portland pending sales are up 23.6% and Gresham / Troutdale pending sales are down 13.5%.  Average total market time measured by days is as follows; Beaverton 119, Tigard 138, Hillsboro 136, Lake Oswego 135, SE Portland 135, NE Portland 111 and Gresham / Troutdale 122. Rates continue to stay low around 4.25% or lower.

Hopefully this current Market Action update will help you to better understand where we are in the current real estate market.  Keep watching the inventory, if it continues to decline at the same rate it is now for several more months this will put additional pressure on pricing.

Beaverton Home Sales Market Action – September

The Real Estate market continues to move along.  We expect late fall and early winter to be warmer than last year in regards to sales activity.  We see a lot more buyers out there and a lot less inventory.

Home sales for the Portland and Beaverton area for September 2011 is as follows.  Sales activity in the Portland Metro area continued to show improvements in closed and pending sales.  The inventory levels remained much lower than September 2010.  Closed sales grew 13.4% in September 2011 compared to September 2010.  Pending sales were up also 17.5%, and new listings dropped 29.5%.  The average sale price for September 2011 declined 4.2% compared to September 2010.  Median sale price also fell 3.8%.  At this month’s rate, the 10,666 active residential listings would last about 6.7 months.  Comparing the 3rd quarter of 2010 with 2011, sales activity was up.  Closed sales jumped up by 21.5%, while pending sales increased by 21.6%.  New listings fell 27.6%.

Comparing the pending sales with the previous 12 months change is as follows; Beaverton home pending sales are up 53.5%, Tigard pending sales are up 47.2%, Hillsboro/Forest Grove pending sales are up 41.0%, Lake Oswego pending sales are up 20.2%, SE Portland pending sales are up 14.2%, NE Portland pending sales are up 4.2% and Gresham/Troutdale pending sales are up 9.0%.  Average total market time measured by days is as follows; Beaverton 106, Tigard 174, Hillsboro 143, Lake Oswego 166, SE Portland 98, NE Portland 99 and Gresham/Troutdale 157.  Rates continue to stay low around 3.75% to 4.125%.

Hopefully this information on the current market will help you to better understand where we are at in the current Real Estate market.  Keep watching the inventory, if it continues to decline at the same rate it is now for several more months this will put additional pressure on pricing.  Some school districts are more desirable to buyer’s as well.  It’s all about location and big lots, but it is better than 2008 and 2009.