Those new market stats

The RMLS just released statistics for the month of January.  It is nice to see a few more houses coming on the market, as buyers are out in force.  We also see a consistent trend in slow, steady price increases.

 The median sales price over the previous twelve months increased  7.3%  to $236,000 up from $219,000.  In January, pending sales rose a whopping 37.7% over the previous month.  Closed sales, reflecting seasonal slowing of selling activity over the holidays, dipped to 1344 in January 2013 when compared with 1760 in December 2012

Housing inventory rose to 4.7 months, up from 3.6 months in December 2012.  That is, at the current rate of sales, it will take 4.7 months to sell out the inventory.

If you've been thinking about selling, get in touch and we'll see where the value is on your home.  There are plenty of buyers out there looking to make a move.  If you've been waiting to buy, don't wait too much longer. We don't want you priced out by increasing prices and interest rates - unless your income is also going up.

Leslie Jones 503-312-8038. leslievjones@gmail.com

Read the full RMLS report.