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.