RMLS released their monthly Market Action Report for July 2009. (When looking at the report, Sherwood is under area 151)
True to what we’ve been experiencing first-hand, the greater Portland market is showing great signs of improvement as far as sales and inventory levels go. Inventory is showing steady improvement in Portland with 7.3 months of inventory currently on the market. Experts agree that 6 months of inventory is considered a balanced market. Below 6 months of available inventory is a sellers market and anything above, a buyers market. At the end of the day, real estate inventory levels are declining and have fallen for the 5th straight month thanks in large part to strong closed sales. Many of which can be attributed to the success of the first-time home-buyer tax credit.
Additionally, the Portland Metro area posted a gain in same-month closed sales for the first time since August, 2007! Closed sales were up 8.6% compared to last July. Keep in mind that while lower inventory levels are a good thing, it also means less of a selection that home-buyers have to choose from. In any case, this means better things are on the horizon.
Numbers show Portland Metro real estate is improving. Find out what this means for you as a Seller or Buyer in our local market. Contact The Gardner Team anytime – we’re happy to share our advice and expertise and always welcome your questions. Because we sell more Sherwood and surrounding area homes, we can help you take full advantage of YOUR potential when buying or selling a home, land or luxury estate in Sherwood Oregon or the surrounding areas.
And buyers, the clock is ticking and time is running out. Take advantage of the time and opportunity you have to find the home of your dreams at a price you’ll appreciate for years to come. And remember, you may be eligible for the $8,000 first time home buyer tax credit which at this moment EXPIRES in only 3 months and 14 days! In order to make the deadline, the transaction must close by 11:59 p.m. on November 30th, 2009.
