Tualatin Real Estate Market Trends Report for May 2011, posted June 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 May, 2011. It looks like the inventory went up to 9 months from 7.9 months. What this means is that it would take 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: 9
12 Month Average Sales Price: $306,623 slightly up from $306,534
12 Month Median Sales Price: $280,000 slighty up from $279,950
May 2011 Average List Price: $411,191 down from $478,936
May 2011 Average Sold Price: $280,994 down from $322,368 (May 2010 was $282,905)
May 2011 Median List Price: $339,000 down from $399,999
May 2011 Median Sold Price:$260,575 down from $313,500 (May 2010 was $267,300)
Average Days on the market: 85 up from 73 in April 2011 (May 2010 was 77 days)
Average Cumulative Days on the market (CDOM): 136 down from 171 in April 2011 (May 2010 was 137 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.
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.tualatinlistings.com
* Information and below report are from RMLS(Regional Multiple Listing Service)
Tualatin Real Estate Market Trends for May 2011
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