Well the Fourth Quarter is under way and we have some pretty good data from the RMLS computers that may help you to make some sens out of the market conditions here. Here are the facts through October 2007 that will help you do some thinking about this market. They might just surprise you!

YEAR to Date Summary for 2007

Area New Listings Pending Sales Pending Sales Versus 2007 Closed Sales Median Price Appreciation Rate

149 Bethany 2,330 1,126 1% increase 1,100 $418,400 2.7%

150 Hillsboro 3,544 1,689 -13.6% 1,693 $298,400 8.7%

So these numbers show us being flat for the year over all with Bethany, Oregon picking up about 3% in value this year. Hillsboro is actually showing an 8.7% increase in value but the number of sales year over year is off almost 14%. These numbers do not lie and defy the overall perception in the media that this is a bad market or a down market.

Of course every market is different and every house is different. Certainly not every home is up and the reality is that many are flat or down in value. But really the market is just sort of stuck as buyers expect huge reductions and are not getting them and sellers expect a quick sale at a record price and they are getting that either. So we really do have a Mexican stand off. If I am a buyer I am looking and making an offer on what I see if the value is right! A great time to be in the market and getting ready to make a purchase. Look for January and February to big very active months as pent up demand is sure to break out.

Good luck to everyone looking and as always please call Dirk Knudsen at 503-799-8383 to discuss your home sale or purchase. I am sure I can help you determine the right move for you.

This entry was posted on Tuesday, November 20th, 2007 at 4:07 pm and is filed under NWHomeCenterNews, Bethany News, Orenco News, Portland Westside News, PDX Housing Trends, BUYER's Info. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.