The market trend from Regional Market Listing Service

Posted by Tina Ellis on Thursday, September 6th, 2012 at 2:42pm.

Clark County real estate activity
showed some  improvement when
comparing July 2012 to the same
time period  in 2011.
Offers increased 3.0%
comparing with July this year and last
 dropped 11.2%
from the previous month this year.
The pending sales numbers are the
highest  since 2009 for
the month of July.
Sales increased  6.5%
since July 2011
and a 1.5% increase compared to
 June 2012. Year-to-date
closings have increased 5.3%
when comparing the first seven
months of 2012 to 2011. July also
Inventory in months is unchanged
from the previous month and is
holding steady. At the July rate of
sales, the active listing count of 2,628
would be exhausted in 5.4 months.
This continues to be the lowest
inventory in Clark County since
June 2006 when it was 4.7.
Sale Prices
Home sale prices continue to rise
when comparing July to the same
period last year. The average sale
price rose 7.6% from $211,300 to
$227,400 and the median sale price
rose 8.4%, from $183,300 to $198,700.
Both the average and median sale
price also rose when comparing
this month to the previous month
with year-to-date numbers holding steady
had the most closed sales so far
in 2012.
New listings dipped again this
month decreasing 11.2% from the
same month in 2011 and 1.5% from
the previous month.
AFFORDABILITY - According to a formula from the National Association of REALTORS®, buying a house in the
Clark County area is affordable for a family earning the median income. A family earning the median income
($73,000 in 2012, per HUD) can afford 213% of a monthly mortgage payment on a median priced home
($194,200 in June). The formula assumes that the buyer has a 20% down payment and a 30 year fixed rate of
3.68% (per Freddie Mac).

Be the first to comment on this blog entry!


Leave a Comment

My Account

| Forgotten It?

Recent Blog Posts

Dec31

Oregon Is The Number One State To Move To In 2013

Oregon was the top destination to move to in 2013. United Van Lines, the nation’s largest household moving company, released its 37th annual migration study t...

9 Comments Read More

Dec31

Distressed Sales Drop From 28.6% to 15.1%

2013 was a year of significant improvements for the Portland real estate market. The number of distressed sales, otherwise known as bank owned or short sales, h...

3 Comments Read More

Dec31

Portland #1 For Best US Cities For People 35 and Under

The city of Portland has enjoyed a long list of kudos and awards for the many things that make this city a great place to live. Today we won another award, thou...

6 Comments Read More

We're always on the lookout for talented real estate agents to join our growing team.

We offer cutting edge technology and some of the most competitive commission splits available.

Email Bookmark and Share