Beaverton Home Sales Market Action- March

The current Market Action for the Portland and Beaverton area home sales for March 2012, per the RMLS is as follows:  When comparing March 2012 with March 2011 we see improvements in both pending and closed sales.  There were 12.8% more pending sales in March 2012 compared to March 2011.  Closed sales represent a 4.9% increase over the same month last year.  New listings this March were down compared to last year, 2,886 vs. 3,056.  We saw the lowest unsold inventory since June 2007.  Comparing the first quarter in 2012 with the same period in 0211 shows closed sales increased 12.2%.  There were more closed sales in the first three months of 2012 than in any first quarter since 2007.  Total days on the market decreased by 17.9%, going from 165 in the first quarter last year to 135 in the first quarter of 2012.
Comparing the pending sales with the previous 12 months change is as follows; Beaverton home pending sales are up 10.7%, Tigard pending sales are up 5.2%, Hillsboro / Forest Grove pending sales are up 12.8%, Lake Oswego pending sales are up 0.9%, SE Portland pending sales are up 17.4%, NE Portland pending sales are up 9.6% and Gresham / Troutdale pending sales are up 7.4%.  Average total market time measured by days is as follows; Beaverton 142, Tigard 175, Hillsboro 118, Lake Oswego 160, SE Portland 93, NE Portland 89 and Gresham / Troutdale 151. 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 8-9 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.