Beaverton Home Sales Market Action- June 2012

The current market action is showing improvement across all real estate activity except new listings which were down slightly. Comparing May 2012 with May 2011 there were 2,522 accepted offers in 2012. This is a 16.4% increase over 2011. This represents the highest number of pending sales in the month of May since 2007. There has been a 20.8% increase in closed sales in May 2012 compared to May 2011. Inventory is at it’s lowest since March 2007.
Home sale price measures were all positive in May. The median sales price rose 6.6% when comparing May 2012 with May 2011. This is the second consecutive month in 2012 that the median home price has risen. The average sales price has also risen 7.2% when comparing the current month to the same month in 2011. So far 2012 is shaping up to be a very productive year. We are in a transitioning market still but moving more and more out of a buyer’s market and into a seller’s market.