So what are the market conditions in Sandy, Oregon you ask? Well, they are as follows:
As of January 2008 the current number of homes on the market was 151.
The average days on the market was 43 and the homes sold for 98% of their list price.
Also, there is currently 13.7 months of inventory.
So what does all of this mean? Well, lets take the first number. In the month of Janurary there were 151 homes for sale in the Sandy area. For all of the homes listed in the Sandy, Oregon area, it was taking them an average of 43 days to sell. Also, homes in this area were selling for 98% of their list price. Lastly, the 13.7 months of inventory means that if no more homes were listed, after 13.7 months there would be no more homes on the market.
Another thing to look at is how this compares to the previous month. If you look at the number of homes on the market in December 2007 for Sandy, Oregon you will find that there were 155 homes on the market. Not much of a difference from January. One thing that did change significantly was the market time. It went from 97 days in December 2007 to 43 days in January 2008. Quite a difference there. The homes sold for 99% of their list price in December 2007. Lastly, there was 15.5 month of inventory for December of 2007.
In a nutshell all of this mean that there are fewer homes on the market this month than last, these homes are selling faster than the previous month and are selling for 98% of their list price. The biggest thing to note is the market time. 43 days on the market is not bad. The important thing to remember is to have you house priced at fair market value so it will sell in a timely manner. A Realtor will do a CMA on your home to price it right. Several factors go into a CMA that help determine your homes price. If you have any questions about CMA's or any other information I have listed here, please fell free to call or email me at anytime. Enjoy your day.