Recent information on our local Wilsonville real estate market is now available. With school beginning as we move toward Autumn, it’s reasonable to expect a somewhat less robust pace of home sales.
Many, though certainly not all, 2014 buyers have bought their home by now. This brings “empty-nesters,” relocating transferees, singles, and young families to the forefront as a bigger slice of the buyer pool for the remainder of the year. For sellers, Autumn can bring more motivated buyers with less competition from other home sellers, when compared to Spring.
An interesting new report on Wilsonville homes was recently released.
Especially notable in this report is the fact thatmore than 1/3 of all Wilsonville homes for sale saw a price drop before selling. Plenty of other helpful information is included, like the average days on the market it takes for a Wilsonville home to sell and the median list price.
There are plenty of reasons to consider the construction of a swim center in Wilsonville. Learning to swim is a potentially life-saving and healthful activity, plus an aquatic center further promotes youth sports and senior exercise. In essence, a new swimming pool offers benefits for virtually everyone in our community.
One primary reason against such an aquatic center is cost, and how best to raise the necessary funds.
Take our poll. Should Wilsonville move forward and build an aquatic center?
A recent report on Wilsonville area real estate shows a continued solid increase in local home values. Compared to last year, Wilsonville home prices are now up 8.1% over this same time last year. If this trend continues, we could be well on our way to a good year for Wilsonville real estate.
What Is And What Should Never Be (With apologies to Led Zeppelin) But the real story is that Wilsonville home values have some of the lowest increases in our entire region. On top of that, Wilsonville pending sales changed -3.8% for the recent month measured and -15.7% compared to last year! As a result, Wilsonville’s solid home prices are still creeping upward. But fewer Wilsonville homes are now being sold.
With our 8.1% annual home price increase, Wilsonville now finishes ahead of only West Portland (7.1%) and Lake Oswego/West Linn (7.9%). Every other community in our region fared better than Wilsonville for home price appreciation.
But there’s an explanation.Perhaps not surprisingly, these three areas sport some of our area’s highest average selling prices, with Tigard/Wilsonville at $306,000, West Portland at $379,900 and Lake Oswego/West Linn at $440,500.
Both Sides Now (With apologies to Judy Collins) The flip side of the equation is interesting, especially if one looks where our area’s price appreciation is greatest. As expected, those communities have lower average sales prices. They include SE Portland with 15.4% (($249,000), Milwaukie/Clackamas at 14.8% (($275,000) and Columbia County an astronomical 25.9% ($188,700).
Feeling Stronger Every Day?(With apologies to Chicago)The bottom line is that Wilsonville home prices continue to increase, and that’s one good sign of a strengthening market. There are several factors helping to boost Wilsonville area home prices. These include our area’s real estate seasonality, which brings improved home buying weather this time of year.
Gains are also due in part to a continued recovery from the Great Recession which began around December, 2007. However, perhaps the key reason to explain our real estate boost is a significantly reduced inventory of homes for sale.
What Does This Mean For Wilsonville Homebuyers & Homesellers?Low home inventory means there are fewer houses for sale.A main effect of having fewer homes for sale typically means less selection and higher prices. This is the classic ‘seller’s market,’ where buyers lose a significant amount of leverage. This means buyers have to compete more against one another to find a desirable home.As a result, home prices rise.If you’ve thought about selling your Wilsonville home, this may be your best opportunity for the foreseeable future. However, if Wilsonville home owners en masse begin sensing the time is right to sell, such a concomitantincrease in supply could cancel projected home price gains.
Limbo, How Low Will We Go? (With apologies to Chubby Checker)Another reason for our home inventory’s newsworthy nature has to do with the time of year. We’re already trending slightly ahead of 2013 given our latest inventory figure of 2.8 months from April. Last year, the months of May, June and July were lowest for regional inventory. So the lowest number of available homes for sale may yet be ahead.
Timing The MarketBased on last year’s performance, homeowners may have another few months before the supply of homes begins climbing back up. So if you’re considering a Wilsonville area home sale in 2014, acting sooner is likely to be in your favor before inventory rises and other events are factored in, like families purchasing before the school year begins.
Consult The ExpertsThinking about selling your Wilsonville area home? Contact the experts! Wilsonville’s very own Certified Realty is Oregon’s choice since 1950. Contact them using the convenient form below for a FREE report on what your property could sell for now.
This attractive, just listed home in Wilsonville’s Canyon Creek Meadows neighborhood is move-in ready and attractively priced at $274,900.
This home also features plenty of room, with 1,660 square feet of living space, 3 bedrooms & 2.5 bathrooms, plus both living and family rooms.
Additional features include island kitchen with pantry closet, kitchen appliances, spacious master bedroom with walk-in closet, forced-air gas heat, central air conditioning, gas fireplace and an attached double garage. Walking trails nearby too!
With the arrival of Spring’s beautiful weather, many Wilsonville homeowners are hearing others say: “Now is an excellent time to consider placing your home on the market for sale.”
However, you may have wondered why exactly is now such a good time to sell your Wilsonville home? Is it all about sunny skies? So if you’ve ever thought about selling your Wilsonville property, this article is for you. And here are three good reasons to now sell your Wilsonville, Oregon home:
Reduced Inventory There are fewer homes on the market right now. Our 3.1 month supply of homes means demand is stronger. That frequently translates to higher home prices. And with fewer competing sellers, you may need to negotiate less for your best deal.
Seasonality Many home buyers shop in earnest during better weather. Why? It’s easier, more fun and there’s more daylight to work with. But there’s one other reason you may not have considered: School is out soon and that is a great opportunity for families with kids to move during Summer Vacation. Don’t miss out on these buyers!
Interest Rates One of the big factors affecting home affordability is the interest rate your lender charges. Interest rates remain near historic lows. This means even with rising prices, buyers can find homes to be more affordable if interest rates stay attractive.
Thinking about selling your Wilsonville home? Contact our sponsor, Wilsonville’s very own Certified Realty using the convenient form below for a FREE report on what your property could sell for in today’s market.
With Wilsonville home prices averaging among the highest in our region, we were curious to find the least expensive Wilsonville home currently for sale.
So off we went on the hunt for Wilsonville’s cheapest detached, standard-framed, single family home now on the market.
This meant no manufactured homes. No condominiums. No townhouses, either.
After digging deep into the substantial pile of available Wilsonville homes using resources from the Regional Multiple Listing Service, we found that one elusive, and exclusive, home.
With more than 1,100 square feet of living space, this cozy 3 bedroom, 1 bath ranch style home is truly move-in ready. Located in Wilsonville’s ‘old town’ district, another benefit of this property is the desirable, low traffic neighborhood. Plus, it’s located within walking distance to Boones Ferry Park and shopping, too. The price? $239,900.
Thinking about buying or selling a Wilsonville home? Contact our sponsor, Wilsonville’s very own Certified Realty using the convenient form below for a FREE telephone or in-person appointment to discuss your options.
Wilsonville is a very nice place to live. So imagine even how much nicer it might be to live in what is currently Wilsonville’s most expensive home currently for sale.
This luxury home features more than 11,000 square feet of living space, with five bedrooms, five full bathrooms and two half bathrooms. It’s located on a beautiful 62 acre parcel in the peaceful Wilsonville countryside. Curious about the price? It’s $3,995,000.
A new report on Wilsonville area home sales reveals fewer local properties have sold so far this year, with Wilsonville home prices still up nicely. The number of home sales for greater Wilsonville changed by-17.9%, with the average selling price up 9.0%.
Part of the reason behind the drop in sales is likely due to a decrease in our regional supply of homes. That’s because our market would now run out of homes to sell in 3.1 months. This is considered a relatively low supply by historical standards, but not uncommon during Spring and Summer months.
Thinking about selling your Wilsonville home? Contact Wilsonville’s very own Certified Realty for a FREE report on what you home could sell for using the convenient contact form below. Certified Realty is Oregon’s choice since 1950.
As of this last day of March, 2014, the Regional Multiple Listing Service (RMLS) reported there were 22 Wilsonville homes sold this month.
Closing prices for these 22 properties range from $158,000 for a 2 bedroom condominium to $670,000 for a rambling, 4 bedroom, 3,100+ square foot ranch style home on 1.7 acres.
The largest Wilsonville home to sell this month was this 3,200 square foot Wilsonville residence built in 2005. It features 4 bedrooms and 2.5 baths.
Priced almost smack-dab-in-the-middle of this month’s highest and lowest Wilsonville homes sales price is this 4 bedroom, $415,000 Wilsonville home that sold after only 10 days on the market.
The difference in price between the two largest Wilsonville homes sold this month is due in part to lot size.
Are you considering the sale of your Wilsonville home? Contact our sponsor, Wilsonville’s very own Certified Realty using the convenient form below for a FREE report on what your Wilsonville home could sell for in today’s market.
Total home sales recently increased overall for our region, yet a new report on greater Wilsonville shows a -20.3% change in the number of home sales compared to the same month last year. In other helpful information, the average market time for a Wilsonville area home to sell is now 106 days, with home prices up 9.6% over the past year.
With an average selling price of $329,500, Wilsonville homes remain among the most highly valued in the region. Our backlog of housing recently jumped by nearly a month. At the current rate of home sales, we would now ‘run out of homes’ in 4.1 months.
Thinking about selling your Wilsonville home? Contact Wilsonville’s own Certified Realty, using the convenient contact form below for a FREE report on what your property could sell for in today’s market. Certified Realty is Oregon’s choice since 1950 and a WilsonvilleHomes.com sponsor.
A recently released housing report reveals local home prices have increased nicely over the past year. The new survey from RMLS (Regional Multiple Listing Service) shows a 10.5% increase in home values throughout greater Wilsonville.
Average Home Price & Market Time The current average selling price for a home for our area is now $315,600. The average time on the market is 74 days.
Low Housing Inventory Helps Values Regional real estate prices continue their overall upward trend due in part to a lower than usual supply of homes. With buyers chasing a smaller number of available properties, basic supply and demand principles create a ‘seller’s market’ around Wilsonville. At the current rate of home sales, our region would now be ‘out of homes’ in just 3.2 months, a historically low figure.
Contact The Experts Thinking of buying or selling a Wilsonville area home? For a FREE consultation to discuss our market and your options, please contact our sponsor, Certified Realty today with the convenient contact form below.