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NW Washington County: October 2012Northwest Washington County Stats & Review Overall the NW Washington County market is a neutral real estate market. On the buyer's side interest rates are at all time lows and the average market time is also very low at 75 days. On the seller's side overall inventory is at a 5.5 year low and average sales price percent change is up. When the year to year price comparison is up and the average sales price percent change is up from last year at this time I have to give it a current price trend rating of Appreciating. Average Sales Price Percent Change is a good conservative indicator for determining if a market is appreciating or depreciating. *This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (11/1/11- 10/31/12) and compares it to the rolling average sales price of the previous 12 months (11/1/10-10/31/11). NW Washington County, Oregon's Current Real Estate Climate When comparing October's results this year, (2012) to last year (October 2011) here is what you will find: The average homeowner's equity increased by $22,300 or 6.6% of value. (The supply or inventory is how long it would take to sell off the current/available homes on the market at the current rate of sale.) The time it takes on average from when a homeowner lists their home for sale to when a home has an accepted offer is 75 days. This statistic is down by 11 days (The October 2011 Total Marketing Time ended at 86 days). It's important to compare these statistics to the entire Portland Metropolitan area as a whole which includes all of the city of Portland as well as the surrounding suburbs. This will help you to determine how each area is performing. City of Portland and All the Surrounding Suburbs Current Real Estate Climate: The current Rolling Price Appreciation/Depreciation percent change is +2.3%, which is a 8.7% increase from -6.4% ending October 2011 . The current year to year comparison average price change from (October 2011- October 2012) prices are up 10%. With the Rolling Average Price increasing 8.7%, Average and Median Sales Price both substantially higher from last year, supply levels very low at 3.8 months, demand up significantly, marketing time down to 102 days (136 days ending October 2011) I have to give it an overall market rating of Appreciating prices. To establish trend you need to consider the very longer term such as rolling average sale price percent change from year to year but you also need to consider the immediate trend when compared to last year's same month and in many cases even the previous few months of data. *This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (11/1/11- 10/31/12) and compares it to the rolling average sales price of the previous 12 months (11/1/10-10/31/11). In this case the rolling average over the last twelve months is $271,500 and the rolling average of the previous 12 months was $265,300. You take the rolling average price difference and divide it by previous 12 month rolling average and you get +2.3%. When comparing October's results this year 2012 to last year (October 2011) here is what you will find: The average homeowner's equity increased by $25,900 or 10% of value. The October 2012 supply in the entire Portland Metro area stands at 3.8 months down 3 months from last year. Portland Metro Real Estate data comes from the RMLS of Portland, which is the region's local multiple listing source for real estate listings. If you would like to receive e-mailed reports simply let me know. 2012 Portland Area/Section Reports:
For the most current Portland real estate market recap summary click here.
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