Tigard OR Homes sales statistics Nov. 2009

Tigard OR Homes sales statistics Nov. 2009

The good news:

  • There were 51 single family homes sold in Tigard in November. This is a 55% increase in homes sold over a year ago.
  • DOM decreased 13%.
  • It appears that the ratio of active listing to homes sold is approaching a more natural balance. The total number of listing is on an increasing pace.

The bad news:

  • The average sales price is down 9% from a year ago.

Other observations:

  • Bank owned properties (REO) seems to be on the rise over short sales. This may be because many short sales fail and become foreclosures. I would expect the number of Bank sales to increase in 2010. Bank sales and short sales are not as large a part of the Tigard market as compared to other areas of the country.
  • The most sales activity is in the $200,00 – $300,000 range. This is typically the first time home buyers entry level and is stimulated by Federal Tax Credits and low interest rates. This segment represents 55% of sales for November. Investors are also attracted to this segment.
  • There are still many issues facing the housing market, the biggest being the high unemployment rate. When jobs return, the pent-up demand for housing will push sales.

home sales

home sales

home sales

 

These figures are deemed accurate, but they are not quaranteed.

copyrighted by Wayne B. Pruner 2010

 

If you wish to discuss these figures or you have any questions about Tigard real estate, give me a call. You will get straight answers with no sales pressure.

Wayne B. Pruner, GRI  503-891-0795  email: waynepruner@oregonfirst.com

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