Market Conditions Ending November 30, 2013
The current Rolling Average Price Appreciation/Depreciation percent change is currently at +13 % which is an +10% increase from +3% ending November 2012. The current year-to-year average sales price change from (November 2012- November 2013) is reflecting price increases of +13% . With the Rolling Average price increasing +10%, Average price higher at +13%, Median price higher at +12%, Supply levels low at 3.7 months, Demand up by 5.6%, and Marketing time down to 80 days (101 days ending November 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. The average change in equity for all of Portland Metro was $38,700 or roughly 13.9%. The largest changes of equity was in Lake Oswego at $73,200 increase from last year. Other big equity gainers include Milwaukie/Clackamas/Happy Valley area at $52,900, Gresham/Troutdale at $63,400, North Portland at $49,800, West Portland at $50,000 and SE Portland at $40,800. The smallest suburbs equity change was Hillsboro at a $14,400 increase from last year.
2. The rolling average sales price appreciated by 13.3% overall. All 12 suburbs of Portland increased by over 10% accept West Portland which was at 9.7%.
3. The time it takes to get an accepted offer dropped in Hillsboro by 96 days from 166 to 70. That is over 3 months change which is enormous.
4. The supply of homes for Milwaukie, West Portland and Hillsboro dropped by -27%, -21% and -23% respectively.