Tigard Home Sales for December 2010

Tigard Single Family Home Sales for December 2010

• The average sold price is $291,061. This is a decrease of 7.1% from a year ago.
• The average median price is $260,000. This is a decrease of 12% from a year ago.

• The average days on market is 144. This is a decrease (improvement) of 25%.
• Active listing are up 52% from a year ago.
• The total number of homes sold, 44, is an increase of 18.9% from a year ago.
• There were 13 short sales and foreclosures. This represents 29% of the total homes sold.
• Only 5 homes over $400,000 were sold in Tigard this month.

All information is deemed accurate, but is not guaranteed.

I expect short sales and foreclosures (Bank owned properties) to remain a significant portion of total sales in Tigard through 2011 and most of 2012. This will keep a downward pressure on sales prices. I am not expecting appreciation to return until at least 2013. The average median price being lower than last year indicates that the home sales are in the lower price ranges. Not many expensive homes are not selling right now.

• Now is a great time to buy because there are some real values in housing available now, but don't buy if you expect to move within 5 years. Prices are going to stay flat or slightly decrease for a while. If the time is right for you or 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 must sell, price your home 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.
• If you are an investor, now is the time to buy because you can find properties where the rental income will cover the mortgage payment. When this recession is over, these bargains will disappear. Take advantage of this unique situation.
• The real estate market is not going to improve until the unemployment rate goes down. Buyers need jobs!

Here are some recent articles I have written about the real estate market:

Money, Marriage, and the housing Crisis

What has Happened to the American Dream?

Wayne Pruner is a Realtor in Tigard Oregon. I am ready to help you save money when you buy or sell your home. My direct phone number is 503-891-0795 and my email is waynepruner@oregonfirst.com.