(Cindy's Blog about Portland Real Estate & Stuff)
Here is the latest 12 month Market Trend Report for Tualatin, Oregon. We are always one month behind so these are the statistics for February, 2011. It looks like the inventory inched down slightly from 8.1 months to 7.9 months. What this means is that it would take 7.9 months to sell all the current active homes on the market.
An average inventory would be around 5-6 months, so anything above that would be a buyer's market, and anything below that would generally be a sellers market. Inventory in months is calculated by dividing the active listings at the end of the month in question by the number of closed sales for that month.
What's the difference between the average day compared to the average cumulative days on the market?
The average sales price is arrived at by totalling all the sales as to dollar amount and dividing by the number of sales. Median sales price is the mid-point of sales, at which half of the homes sold above this point, and the other half sold below.
Inventory in months: 7.9
12 Month Average Sales Price: $313,906
12 Month Median Sales Price: $280,000
February 2011 Average List Price: $377,935
February 2011 Average Sold Price: $248,118 (February 2010 was $307,940)
February 2011 Median List Price: 302,200
February 2011 Median Sold Price:$262,000
Average Days on the market: 93 down from 136 in January 2011 (February 2010 was 123)
Cumulative Days on the market (CDOM): 112 down from 146 in January 2011 (February 2010 was 157)
When it comes to the Average Days compared to the Average Cumulative days on the market, to me the cumulative days on the market give you a more realistic idea. The average day on the market can be from when a home was listed with one agency, where the cumulative days are the total days listed with all agencies if there were more than one.
I haven't gotten the latest Portland Metro market stats, but to compare a little of how Tualatin is compared to the entire Portland Metro area, the January months of inventory for the Portland Metro area was 11.3 and the last January Market trend inventory for Tualatin was 8.1 months.
If you have any questions or would like to receive this report (or another one to your local area) directly to you, please feel free to contact me at cwestfall@prunw.com or 503-819-5241. As always, you can find lots of information on my website www.cindywestfall.com.
* Information from RMLS
Tualatin Market Trends for February 2011 Posted March 13 2011
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