Mt. Hood area real estate statistics are in for the 2012 selling season. There are some” good news” numbers to report! The biggest is that the average sale price is up 4.4% as reported by multiple listing service. More good news: total number of sales are up 30% over 2011.
As the built up existing inventory gets sold we will eventually see more stabilization in the market and hopefully a rise in prices.
December saw a big decline of 50% pending sales compared to last year. No doubt this was because of the uncertainty of the fiscal cliff talk and the holiday shopping sprees that occupied each weekend.
Government Camp homes and condos finally broke out of its slow down for several years. Eleven condos in Government Camp closed and many single family homes went out the door with nine total.
foreclosures are slowing nationally down to 20% of sales. Government Camp, Rhododendron, Welches and Brightwood had 28 bank owned sales and seven short sales. We’re 6% higher than the national average in distressed sales!
Continued low interest rates and plenty of inventories to purchase will make 2013 another block buster year for sales. Although qualifying and appraisals make this market challenging we are optimistic that these obstacles will be met.
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