Beaverton Fall Market Update - 2021
Its officially Fall, which means its time for another housing market update for the Beaverton area.
The September report shows that listings are actually down 7.3%. However, that is not a surprise. As the Portland market usually experiences some seasonality as we head into the fall and winter months, it's been a busy summer for real estate. Home prices are up 16% year over year. The average home price in Beaverton is about $513,000. And the average days on market is a quick 11 days specifically in the month of September, we have seen three bedroom homes actually decline in price about 3.6%. And the average price of four bedrooms home have increase by 4.7%, which in my business I can totally relate. Most of my buyers seem to be looking for that fourth bedroom or an office space or a playroom. It's clear that four bedroom homes are very desirable.
As we head into the fall months, we are starting to see a decrease in new listings, hitting the market. Three bedroom homes had a decrease of 11% of new listings sitting in the market. And four bedroom homes have had a decrease of 14.5% heading in the market. What does that mean? It means that because of seasonality and the weather changing sellers are not putting their homes on the market. So buyers who are out there shopping for homes may have less inventory to choose from another very interesting fact about the Beaverton area. Housing market is that 63 homes sold over asking price in September, 23 homes sold at asking price and only 16 sold below asking price.
So here's the advice I've been giving my clients for buyers. It's still a great time to purchase a home mortgage rates are still low and the market is a little bit less competitive as we head into the winter months.
Sellers are always very motivated to get their home sold before the holiday season. So now it could be a wonderful opportunity for you to my homeowner's looking to sell in the winter months. I would say it's still a great opportunity for you as well. Inventory is very low, which means there's not a lot of competition for you. However, in a shifting market is very important that you price your home correctly, that the condition is good and you hire an agent who's really going to market your home and its unique features.
If you are looking to buy in the Beaverton market or the Portland market in large, feel free to reach out to me. I look forward to hearing from you.