Interesting Portland Real Estate Statistics ending October 31, 2012
Last month's statistics really showed what home buyers, sellers and Realtors have been feeling since February 2012. Virtually, all the areas of Portland as a whole showed strong appreciation with incredible demand, low supply all driven by a decent local job market and low interest rates with no fears of increasing rates anytime soon. Some of the odd stats that stuck out this month include:
1. In NW Washington County closed sales were up 119% from last year at this time and in North Portland closed sales were up 90% from October 2011 values.
2. Inventory (supply) of homes has not been this low since March 2007 and the last time it was lower was in August of 2006.
3. North Portland appreciated 20% from last October and on average every homeowner gained $40,800 of equity in their homes. Lake Oswego appreciated 15.8% or on average $65,000.
4. The Average Sales Price Percent Change had enormous increases in a few areas from last year at this time. The Average Sales Price Percent Changes takes the rolling Average Sales Price over the last 12 months and compares it to the Averages Sales Price rolling average from the previous 12 months. This is a good lagging indicator of whether a market has appreciated or depreciated.
Current Average Sales Price Percent Change increases from October 2011:
Oregon City / Canby 14.4%
Southeast Portland 13.5%
Beaverton 14.5 %
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