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Tigard & Wilsonville: September 2012Tigard/Wilsonville Stats & Review Overall the Tigard market is still a buyer's market. Interest rates are still at all time lows and the average market time is at 91 days. When the year to year price comparison is up slightly and the average sales price percent change is up significantly 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 (10/1/11- 9/30/12) and compares it to the rolling average sales price of the previous 12 months (10/1/10-9/30/11). Tigard, Oregon's Current Real Estate Climate When comparing September's results this year, (2012) to last year (September 2011) here is what you will find: The average homeowner's equity increased by $4,700 or 1.7% 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 91 days. This statistic is down by 83 days (The September 2011 Total Marketing Time ended at 174 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 +1.0%, which is a 6.9% increase from -5.9% ending September 2011 . The current year to year comparison average price change from (September 2011- September 2012) prices are up 4.9%. With the Rolling Average Price increasing 6.9%, Average and Median Sales Price both higher from last year, supply levels still very low at 4.6 months, demand up significantly, marketing time down to 102 days (131 days ending September 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 (10/1/11- 9/30/12) and compares it to the rolling average sales price of the previous 12 months (10/1/10-9/30/11). In this case the rolling average over the last twelve months is $269,500 and the rolling average of the previous 12 months was $266,700. You take the rolling average price difference and divide it by previous 12 month rolling average and you get +1.0%. When comparing September's results this year 2012 to last year (September 2011) here is what you will find: The average homeowner's equity increased by $13,200 or 4.9% of value. The September 2012 supply in the entire Portland Metro area stands at 4.6 months down 2.1 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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