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Prices Rise as Sellers Start to See Multiple Offers
According to statistics from the Regional Multiple Listing Service (RMLS), the median sales price in the Portland area rose nearly 3% in November 2011 as compared to the previous month.
The increase comes as the number of homes on the market (inventory) continues to shrink and some sellers are beginning to see multiple offers.
Homes that are appropriately priced are seeing offers shortly after going on the market.
Inventory Falls to New Two-Year Low
In November, inventory dropped to a new two-year low for the fourth consecutive month.
The number of homes available for sale on the last day of November 2011 was down more than 10% as compared to the previous month, and down more than 35% compared to last year.
Market Continues to Equalize
The months supply of inventory under contract remained 5.7 months in November 2011.
It is the second month it’s been in the range that’s considered to be a balanced market between buyers and sellers.
(click on the table above to see it full size)
This report is developed monthly by RE/MAX equity group and is based on information from The Regional Multiple Listing Service (RMLS) for the period stated above. Residential properties only in RMLS areas 141-156.
All homes on the market need to be in the best condition possible to stand out and impress potential buyers. Windows can often be overlooked in the home staging process. Yet dirty and spotted windows can reduce the available natural light needed to showcase your home, particularly during the winter months. You want to make your home as light and bright as possible. So in addition to turning on all the lights during showings, consider having your windows professionally cleaned.
To help you take advantage of the benefits of professional cleaning, RE/MAX equity group has made arrangements with All Around Great Guys Window Washing to offer our clients a 20% discount off their regular rate of $35 an hour. You’ll also get a free gutter cleaning and free moss control estimate.
Download your 20% off window washing coupon here.
All Around Great Guys Window Washing clean windows by hand with a squeegee and professional equipment. Your satisfaction is their number one concern, which is why they offer a 100 percent satisfaction guarantee. They clean outside, inside, or both sides of windows; they will clean some or all of your windows – you choose.
Bill Kahrmann is the owner of All Around Great Guys Window Washing and has lived in the Portland Metro area since he was 10 years old.
He genuinely enjoys the immediate satisfaction of doing a job well that window washing provides him and the opportunity to serve people.
For more information about Bill and All Around Great Guys Window Washing, download this flyer or visit his website at www.aaggwindowwashing.com
Schedule now to get your 20% off discount by contacting Bill at:
(503) 840-7425
Bill_Kahrmann@aaggwindowwashing.com
Pending Sales Rebound More Than 15%
According to statistics from the Regional Multiple Listing Service (RMLS), the number of homes with an accepted offer jumped more than 15% in October 2011 as compared to September 2011.
Pending sales had reach a high of 674 in August 2011 and then fell to 491 in September before bouncing back to 565 in October. Those 565 accepted offers in October 2011 were a more than 52% increase over the 371 pending sales in October 2010.
Inventory Continues to Drop
The number of homes available for sale on the last day of the month reached a new two-year low in October 2011. October’s 3,219 homes for sale was 8.42% fewer than the number of homes for sale on the last day of the previous month and more than 27% down from October 2010.
(click on the table above to see it full size)
This report is developed monthly by RE/MAX equity group and is based on information from The Regional Multiple Listing Service (RMLS) for the period stated above. Residential properties only in RMLS areas 11-82.
Pending Sales Rebound: Up 32% Over 2010
According to statistics from the Regional Multiple Listing Service (RMLS), the number of homes with an accepted offer jumped more than 32% in October 2011 over the year before.
And, month over month, pending sales were up nearly 8% in October over September.
Inventory Sees Two Year Low
Available inventory (number of homes on the market) reached a new two-year low in October 2011.
The number of available homes for sale fell below 10,000 to 9,990.
Balanced Market
The months supply of inventory fell to 5.2 months in October 2011, also a two year low and the first time that figure has been under 6 months since April 2010.
Months supply is how many months it would take to sell the homes on the market at the current under contract rate.
The market is considered to be balanced between buyers and sellers when available inventory is in the 5-6 month range.
(click on the table above to see it full size)
This report is developed monthly by RE/MAX equity group and is based on information from The Regional Multiple Listing Service (RMLS) for the period stated above. Residential properties only in RMLS areas 141-156.
On October 22 the Broadway office of RE/MAX equity group held an Art Show as a Client Appreciation Event. They enlisted the help of more than 30 artists from the East Portland Metro area who shared more than 90 pieces of art. The artists also decided to donate 20% of all sales back to the Equity Group Foundation. In addition to the art for sale there was also a retrospective of work by the brother of Broadway’s Mark Schaeffer.
Broadway will be holding the exhibit as a Community Open House on both Thursday, November 3 and Thursday November 10, 2011 from 4-8pm.
You are invited to stop by and and view the wonderful art or do some early holiday shopping!
See photos of the October 22 Client Appreciation Event and a sample of the art:
Sales Price Climbs to Highest Level in a Year
According to statistics from the Regional Multiple Listing Service (RMLS), the median sales price rose 3.56% in September 2011 as compared to August 2011. September’s median price of $233,000 was the highest the median sales price has been in nearly a year.
In November 2010, the median sales price was $235,000.
Inventory Falls To Two Year Low
One reason the sales price is climbing is that there are fewer homes on the market. The number of homes for sale on the last day of September fell nearly 8% as compared to the last day of August.
Year over year, the number of homes for sale in September 2011 was down more than 33% as compared to September 2010.
The Months Supply of Inventory is now in the 5-6 month range, which is considered to be a balanced market.
Record Low Interest Rates
Freddie Mac announced that 30-year fixed mortgage rates had reached an all time low of 4.01%.
Here in the West, we recorded the lowest reported rates with 30-year rates reaching as low as 3.95%.
(click on the table above to see it full size)
This report is developed monthly by RE/MAX equity group and is based on information from The Regional Multiple Listing Service (RMLS) for the period stated above. Residential properties only in RMLS areas 141-156.
Median Sales Price Jumps Nearly 6%
According to statistics from the Regional Multiple Listing Service (RMLS), the median sales price climbed 5.85% in September 2011 as compared to August 2011. The median sales price was $190,000 in September 11, the highest its been since January 2011, when it reached $190,500.
Inventory Falls To New Two Year Low
One reason sales prices are rising is that there are fewer homes available for sale. The number of homes for sale on the last day of September fell more than 5% as compared to the last day of August. The number of homes for sale in September 2011 was down more than 27% from last year.
Record Low Interest Rates
Freddie Mac announced on September 30 that 30-year fixed mortgage rates had reached an all time low of 4.01%. Here in the West, we recorded the lowest reported rates with 30-year rates reaching as low as 3.95%.
(click on the table above to see it full size)
This report is developed monthly by RE/MAX equity group and is based on information from The Regional Multiple Listing Service (RMLS) for the period stated above. Residential properties only in RMLS areas 11-82.
Pending Sales Surge More Than 44%
According to statistics from the Regional Multiple Listing Service (RMLS), the number of homes with an accepted offer soared 44.49% in August 2011 as compared to last month and skyrocketed more than 80% as compared to last year.
Inventory Falls to 2-year Low
The jump in pending sales brought the months supply under contract figure down to 4.5 months in August 2011, the lowest its been in more than two years. That figure is well below half of what it was a year ago. The actual number of homes available for sale on the last day of August 2011 was also at a two year low.
Sales Increase Year Over Year
Home sales climbed more than 21% in August 2011 as compared to August 2010. Sales were down 4.47% as compared to last month. The increase in pending sales this month should lift the number of closed sales in the next two to three months.
(click on the table above to see it full size)
This report is developed monthly by RE/MAX equity group and is based on information from The Regional Multiple Listing Service (RMLS) for the period stated above. Residential properties only in RMLS areas 11-82.
Pending Sales Jump More Than 43%
According to statistics from the Regional Multiple Listing Service (RMLS), the number of homes with an accepted offer jumped more than 43% in August 2011 as compared to the same month the year before.
And, the number of under contract homes climbed more than 18% in August 2011 compared to July.
Inventory Reaches 2-Year Low
The increase in pending sales dropped the number of homes on the market to the lowest level in more than two years. And, there were 32% fewer homes for sale as compared to August 2010.
The months supply of homes in August 2011 was 5 months, less than half of what it was in August last year.
Months supply is the number of months it would take to sell the homes on the market given the current pending sales rate.
Home Sales Up Year Over Year
The number of homes sold in August 2011 was up nearly 15% compared to last year.
Sales overall were down slightly from last month.
(click on the table above to see it full size)
This report is developed monthly by RE/MAX equity group and is based on information from The Regional Multiple Listing Service (RMLS) for the period stated above. Residential properties only in RMLS areas 141-156.
Home Prices Rise More Than 2%
According to the July 2011 statistics from the Regional Multiple Listing Service (RMLS), the median price of homes sold in last month climbed 2.2% as compared to June 2011. July’s increase in the median sold price is the fifth consecutive monthly increase. It is also the highest the median sold price has been since December 2010, when it was $230,000.
Pendings and Solds Both Up Year Over Year
The number of homes with an accepted offer remained steady in July as compared to June but jumped more than 33% as compared to a year ago.
Home sales slid in July as compared to June but showed a healthy increase of more than 13% when compared to July 2010.
Inventory continues to fall
In July, the months supply of inventory under contract reached its lowest level since April 2010, when it was 5.8 months. The actual number of homes for sale on the last day of the month of July was the lowest in more than two years.
(click on the table above to see it full size)
This report is developed monthly by RE/MAX equity group and is based on information from The Regional Multiple Listing Service (RMLS) for the period stated above. Residential properties only in RMLS areas 141-156.
