(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 January, 2011. It looks like the inventory inched up slightly from 7.8 months to 8.1 months. What this means is that it would take 8.1 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: 8.1 up from 7.8 in December 2010
12 Month Average Sales Price: $316,582
12 Month Median Sales Price: $285,050
January 2011 Average List Price: $417,163
January 2011 Average Sold Price: $254,650 (January 2010 was $265,050)
January 2011 Average Median Sold Price:$258,500
Average Days on the market: 136 up from 131 in December 2010 (January 2010 was 62)
Cumulative Days on the market (CDOM): 146 down from 200 in December 2010(January 2010 was 112)
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 December months of inventory was 7.9 and the last December Market trend inventory for Tualatin was 7.8 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 January 2011 Posted February 11 2011
Tualatin Market Trends for January 2011 Posted February 11 2011
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