Beaverton Home Sales Market Action- February

Here is the current Market Action for the Portland and Beaverton area home sales for February 2012, per the RMLS. Sales Activity in the Portland Metro Area showed improvements in both pending and closed sales in February 2012.  In February there was a decrease in inventory, down from 7.0 months last month, the lowest February inventory since 2007.  Closed sales were up 17.5% in February 2012 compared to February 2011.  Pending sales grew 32.5%, and new listings dropped 13.6%.   Average sale price for February 2012 rose 4.3% compared to February 2011E.  Median sale price fell 1.3%.  Comparing January 2012 to February 2012, the average sale price went up from $249,100 to $255,100 (2.4%) and the median sale price rose from $207,500 to $211,000 (1.7%).
Comparing the pending sales with the previous 12 months change is as follows; Beaverton home pending sales are up 12.4%, Tigard pending sales are up 73.9%, Hillsboro / Forest Grove pending sales are up 18.5%, Lake Oswego pending sales are up 48.8%, SE Portland pending sales are up 27.9%, NE Portland pending sales are up 24.2% and Gresham / Troutdale pending sales are up 27.6%.  Average total market time measured by days is as follows; Beaverton 108, Tigard 174, Hillsboro 117, Lake Oswego 152, SE Portland 114, NE Portland 105 and Gresham / Troutdale 97. Rates continue to stay low around 4%.
Hopefully this current Market Action update will help you to better understand where we are in the current real estate market.  For the past 7-9 months the market has been getting a little better each month.  Hopefully these trends continue for sellers.  Price is a top factor in getting buyers through the door and making an offer.  Functionality of the floor plan and the yard are also important to buyers.