Tualatin Oregon Real Estate Market Trends Report for April 2011, posted May 2011
(Cindy's Blog about Portland Real Estate & Stuff)
Here is the latest 12 month Market Trends Report for Tualatin, Oregon. We are always one month behind so these are the statistics for April, 2011. It looks like the inventory went slightly down at 7.6 months from 7.9 months. What this means is that it would take 7.6 months to sell all the current active homes on the market.
According to the market trends statistics, the average list price compared to sold price was roughly -32.7% and the median list per median sales price was roughly -7.8%... a big difference between average and median. Overall, the average days on the market went down.
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: 7.6
12 Month Average Sales Price: $306,534 down from $309,379
12 Month Median Sales Price: $279,950 up from $279,000
April 2011 Average List Price: $478,936 up from $385,398
April 2011 Average Sold Price: $322,368 up from $298,757 (April 2010 was $346,125)
April 2011 Median List Price: $339,999 down from $399,900
April 2011 Median Sold Price:$313,500 up from $265,000 (April 2010 was $337,900)
Average Days on the market: 73 down from 93 in March 2011 (April 2010 was 84 days)
Average Cumulative Days on the market (CDOM): 171 down from 268 in March 2011 (April 2010 was 249 days)
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 March months of inventory for the Portland Metro area was 7.1 months and the last March Market trend inventory for Tualatin was 7.9 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(Regional Multiple Listing Service)
Tualatin Market Trends for April 2011 Posted May 11 2011
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