Market Conditions Ending December 31, 2013
The current Rolling Average Price Appreciation/Depreciation percent change is currently at +12 % which is an +8% increase from +4% ending December 2012. The current year-to-year average sales price change from (December 2012- December 2013) is reflecting price increases of +6% . With the Rolling Average price increasing +8%, Average price higher at +6%, Median price higher at +7%, Supply levels low at 3.2 months, Demand up by 7.2%, and Marketing time down to 87 days (111 days ending December 2012). The Rolling averages reflect significantly appreciating prices, and the Average home price reflects appreciating prices. Therefore, overall market prices are significantly appreciating.
Notable Statistics ending this month:
1. Every area dropped the total time it takes to get an accepted offer except North Portland and NW Washington County which increased from last year at this time by 20 days and 15 days respectively.
2. The supply of homes keeps dropping in all areas of Portland except Hillsboro, Lake Oswego, Tigard and Oregon City.
3. Closed sales were down in Hillsboro (-18%), Tigard (-16%), Lake Oswego (-23%), and Oregon City (-30%).
4. The Portland area that increased the most equity from last year is SE Portland at (21.9%)
5. The suburbs of Portland that had the largest Rolling Average Sales Price Percent change from last year are North Portland (12.8%, Gresham 15.3%, Oregon City 11.6%, NW Washington County 11.5%, and Beaverton 15.0%.