NW Washington County: February 2013

Northwest Washington County Stats & Review

Overall the NW Washington County market is a seller’s real estate market.  On the buyer’s side interest rates are still at all time lows.  On the seller’s side the total time on market dropped, inventory and closed sales changed so dramatically that the market changed to a seller’s market.  The average sales price percent change is unchanged and the average sales price increased slightly at 3% appreciation from last year.  When the year to year price comparison is flat and the average sales price percent change is barely up from last year at this time I have to give it a current price trend rating of Unchanged.

NW Washington County’s Average Sales Price Percent Change is -0.6% ending February 2013 compared to NW Washington County’s Average Sales Price Percent Change ending February 2012 was +0.3% or an decrease of -0.9% comparatively. 

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 (3/1/12- 2/28/13) and compares it to the rolling average sales price of the previous 12 months (3/1/11-2/29/12). 

NW Washington County, Oregon's Current Real Estate Climate When comparing February’s results this year, (2013) to last year (February 2012) here is what you will find:

The average homeowner's equity increased by $12,600 or  +3.0% of value.
Average Sales Price in February 2013 was $378,300
Average Sales Price in February of 2012 was $365,700
Number of closed sales for the month of February 2013 was 71, up by 42%.
Number of closed sales for February 2012 was 50.
The February 2013 supply of homes stands at 3.3 months, down 56%.
February 2012 supply of homes was 7.4 months.

(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 59 days.  This statistic is down by 75 days (The February 2012 Total Marketing Time ended at 134 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.

Portland Metropolitan Area Statistics & Review of Current Real Estate

The current Rolling Price Appreciation/Depreciation percent change is +5.8%, which is an 11.3% increase from -5.5% ending February 2012 .  The current year to year comparison average price change from (February 2012- February 2013) prices are up 9.0%.  With the Rolling Average Price increasing 11.3%, Average and Median Sales Price both substantially higher from last year (10.5% & 14.7%), supply levels low at 4.5 months, demand up, marketing time down to 116 days (138 days ending February 2012) 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 (3/1/12- 2/28/13) and compares it to the rolling average sales price of the previous 12 months (3/1/11-2/29/12).  In this case the rolling average over the last twelve months is $278,600 and the rolling average of the previous 12 months was $263,300.  You take the rolling average price difference and divide it by previous 12 month rolling average and you get +5.8%.

When comparing February’s results this year 2013 to last year (February 2012) here is what you will find:

The average homeowner's equity increased by $26,900 or 10.5% of value.
Average Sales Price in February 2013 was $282,000
Average Sales Price in February of 2012 was $255,100
Number of closed sales for the month of February 2013 was 1376
Number of closed sales for the month of February 2012 was 1262
The closed sales ratio reflected an increase of 114 or 9.0%

The February 2013 supply in the entire Portland Metro area stands at 4.5 months down 2.0 months from last year.
The February 2012 supply in the entire Portland Metro area was 6.5 months, which was down 4.4 months from February 2010’s 10.9  months.

The time it takes on average from when a homeowner lists their home to when a home has an accepted offer is 116 days, which is down 22 days from February 2012’s total market time of 138 days.

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.

2013 Portland Area/Section Reports:

For the most current Portland real estate market recap summary click here.
For the most current Portland real estate statistics summary click here.
For 2012 Portland Area/Section Reports click here.

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