Tigard Real Estate Statistics for May 2010

The good news:

  • There were 57 single family homes sold in Tigard during May 2010. This is an increase of 50% from a year ago.
  • DOM (days on market) was down 13% from a year ago.
  • Active listings were way, way up from a year ago.
  • The average sales price was up 1.5% from a year ago.
  • The Tigard real estate market is starting to stabilize. 

The bad news:

  • Short sales and Bank owned properties represent 31% of all sales in Tigard for May 2010.
  • The Home Buyers Tax Credit ended last month. This may have been responsible for a significant portion of the sales this month. I just read that mortgage applications are way down for May. 

My observations:

  • I would expect short sales and Bank owned properties to remain a significant percentage of sales in Tigard thru 2010 (probably thru 2011). This will keep a downward pressure on sales prices.
  • Now is a great time to buy and there are some real bargains out there, but don’t buy if you expect to move within 3 – 5 years. Prices are going to stay flat or slightly decrease for a while. If the time is right for you and your family to buy a home, do it. Don’t try to play the market.
  • If you are a Seller, don’t sell unless you have to. You are going to get beat-up in this market. If you have to sell, price it right when you put it up for sale, and make sure your home sparkles. It has to stand out from all the other homes on the market.
  • The real estate market is not going to improve until the unemployment rate goes down. Buyers need jobs! 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

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

Wayne B. Pruner, GRI, Principal Real Estate Broker, licensed in the State of Oregon

503-891-0795    email: waynepruner@oregonfirst.com

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