Southwest Washington Market Stats – September 2012

The latest RMLS Market Action report shows real estate activity in Clark County has reached a new low of 2,402 active residential listings, a drop of 21.4% from September of last year. Prices continue to show modest improvement.

The $218,700 average sales price for the first three quarters of 2012 of  is 2.1% higher than the average price in the same period last year. Inventory stands at 5.6 months, which is a slight uptick from the last new months. Six months of inventory is considered a balanced market, favoring both buyers and sellers.

Clark County real estate highlights Sept 2012

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Second Quarter 2012 Real Estate Update: Slow and Steady Improvement

The latest issue of The Chairman’s Report, a quarterly real estate update from Prudential Northwest Properties Chairman Bert New constructionWaugh Jr., has just been released and many economic indicators point to a slow and steady improvement in the housing market.

The average price of homes sold increased across the country in the last year, with the West experiencing the greatest gains, with the average price of homes sold up 8.6 percent over this time last year.

Click here to read the full report.

Southwest Washington Market Stats – June 2012

The latest RMLS Market Action report shows real estate activity in Clark County increased in several key measures in June 2012 compared to June 2011.

Accepted offers are up 9.1% over last year and up 3.6% from May 2012. Pending sales numbers showed the most improvement in June.

Average sale price of $208,300 is up 4.8% over last year at this time when it was $218,200 and the median sale price rose 7.9%, going from $180,000 to $194,200.

New listings continue downward, decreasing 17.1% from the same month in 2011 and 9.6% from May of this year. Inventory (the ratio of closed sales to active listings) continues to drop. At the June rate of sales, the active listing count of 2,601 would be exhausted in 5.4 months. This is the lowest inventory in Clark County since June of 2006. Six months of inventory is considered a balanced market.

Southwest Washington real estate market stats June 2012

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Portland Metro Real Estate Market Stats – June 2012

The latest RMLS Market Action report for the greater Portland Metro area shows positive upward growth on all fronts when comparing June 2012 with June of last year.

There were 21.7% more accepted offers than at this time last year, and 14.6% more closed sales, with 2,244, which is the highest number since August of 2007.

The average price of a Portland home rose 6.4% to $284,100 and the median price rose 8.6% to $242,000. Median price is the price at which half of the homes are above that price quoted and half of the homes are below. The average time on market dropped 14.5% to 114 days.

The unsold inventory (the ratio of closed sales to active listings) continues to drop, and is now at 3.9 months, the lowest it has been since March of 2007. Given the current rate of sales, it would only take 3.9 months to sell the 8,799 listings currently available in the Portland Metro area. North and NE Portland  have reached inventory levels of only 2.9 months, and SE Portland is down to 2.5 months. These low levels give sellers an advantage across the region, and have led to frequent bidding wars, especially for homes under $300,000.

Portland Oregon real estate stats June 2012

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Prudential Real Estate Survey: Confidence in the U.S. Housing Market Increases

Slowly but surely, Americans are regaining confidence in the housing market and keeping the American dream of owning a home alive.

The new quarterly Prudential Real Estate Outlook Survey revealed that nearly two-thirds (64%) of respondents had a favorable perception of the U.S. housing market, a 4-point jump from the first-quarter 2012 survey and a 12-point increase from first quarter 2011. As a matter of fact, nearly seven out of 10 Americans surveyed (69%) also indicated that real estate is a good investment – that’s up 6% from first-quarter 2012 survey results and 17% from first quarter  2011.Beautiful cottage home

Homeownership remains at the core of the American dream, with a solid 78% of respondents believing that owning a home is still very important. A full 98% said homeownership was at least somewhat important. In addition to historically low interest rates, one of the factors dominating the desire to own a home is centered on the family. More than financial security, tax benefits and a good investment, respondents prioritized owning a home as a place to raise a family and have control over their space.

Americans are dreaming with both feet on the ground.

Given the challenges and complexity of today’s real estate market, Americans remain cautious about the home-buying process, with 30% strongly agreeing that the housing crisis taught them to assert careful planning when buying or selling a home.

Cautiousness has also brought with it the willingness and openness to seek professional help in the process. A notable 74% of survey respondents think it’s more important than ever to work with a good agent for the best success in buying or selling a home, up from 72% in the first quarter 2012 survey.

View our first quarter 2012 Chairman’s Report for more market insights.

To track market trends in your area, sign up for our exclusive Market Tracker report or contact a Prudential Northwest Properties real estate broker today.

Portland Metro Real Estate Market Stats – May 2012

The latest RMLS Action report for the greater Portland Metro area shows unsold inventory continues to decline, reaching the lowest level since March 2007. It would take only 4.2 months to sell the current 8.742 active listings at the May rate of sales.

Last month, there were 2,522 accepted offers, 16.4% more than the 2, 167 reported in May of 2011 and 6.6% more than the previous month. This represents the highest number of pending sales in the month of May since 2007, when there were 3,054. Closed sales of 2,098 represent a 20.4% increase over the same month last year and 15.1% more than the number of sales in April.

The average sales price has also risen 7.2% when comparing May 2012 to the same month on 2011. Indications certainly point to the local real estate market moving in a positive direction.

Portland Oregon Metro real estate stats May 2012

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Southwest Washington Market Stats – May 2012

The latest RMLS Market Action report shows real estate activity in Clark County increased in almost all measures in May 2012 compared to May of last year. Only new listings dipped 7.9% when comparing May 2012 to May 2011. At the May rate of sales, the active listing count of 2,710 would be exhausted in 5.7 months. This is the lowest inventory in Clark County since June 2006.

SW Washington real estate stats May 2012

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Portland Metro Market Stats – April 2012

The latest RMLS Action report for the greater Portland Metro area shows the supply of homes for sale has dropped to its lowest point in years, currently at 4.7 months of inventory. Rates are low and buyer activity is on the rise, often resulting in multiple offers coming in on well-priced homes for sale.

Comparing the first four months of 2012 with the same period in 2011, closed sales are up 13.1%, pending sales are up 17.5% and new listings are down 9.7%. Time on the market has also dropped from 161 days to 132.

Portland Metro Real Estate Market Stats April 2012

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Southwest Washington Market Stats – April 2012

The latest RMLS Market Action report shows the 2,679 active listing count in Clark County would be exhausted in 6.7 months at the April rate of sales. This is a slight uptick from last month and about a month less than inventory in April of 2011.

When comparing the first four months of 2012 to 2011, the results are mixed. New listings are down 16.8%, accepted offers are up 5.3% and closed sales rose 4.2%. The average sale price went from $216,100 to $204,900.SW Washington Market Trends - April 2012

To track market trends in your area, sign up for our exclusive Market Tracker report or contact a Prudential Northwest Properties real estate broker today.

The Chairman’s Report, a Real Estate Update from Bert Waugh, Jr.

The Chairman's Report

 

 

 

 

Portlant Metro RMLS Report: Comparing first quarter of 2012 with the same period in 2011, closed sales increased 12.2%. There were more closed sales in the first three months of 2012 than in any first quarter since 2007. Pending sales were up 18.2% in the quarterly comparison, with new listings decreasing by 12%.

A comparison of first quarter prices this year and last shows average sales price declined less than one-half percent. The average sale price was $251,700 in the first quarter of this year and $252,800 in the comparable period last year. The median sale price decreased 1.4% ($212,000 this year and $215,000 in 2011).

Total days on market decreased by 17.9%  …  click here to read the full report.

 

 

 

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