A quick summary:
2012 is definitely showing strong improvement; up 7% over 2011 when measuring by $/sq ft and 9.4% when measuring by average sale price. The rest of the story is the shrinking supply of inventory as has been shown for a long time now by the inventory and list to sold charts.
I don’t typically get excited about monthly figures but the past 5 months show a significant upward shift. See chart #1
Unless something drastic happens and if current trends continue, expect 2012 to end very strong; much higher I believe, than anyone expected. Below is a quick summary. Certainly take a look at the charts to see the trends and historical data to put it all into context.
View charts and tables attached to see more detailed reports
Price/sq ft
Third Quarter 2012 over Third Quarter 2011: Up
Third Quarter 2012 over Second Quarter 2012 Up
2012 YTD over 2011. Up
Home Size
Third Quarter 2012 over Third Quarter 2011: Up
Third Quarter 2012 over Second Quarter 2012: Up
Number of Sales
Third Quarter 2012 over Third Quarter 2011: Up
Third Quarter 2012 over Second Quarter 2012: Stable
Many sources quote Median sale price and/or average sale price. View the tables to see how these values can paint a different picture of the market.
View charts and tables to see other market measures on one of these sites:
http://www.centralorproperty.com/Central,ORTrends.html or http://centralorhomesales.com/inventory.asp
Know anyone considering short selling to avoid foreclosure?
Please direct them to my dedicated site that fully explains the short sale process. www.bendredmondshortsaleexpert.com
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