Saturday, August 15, 2009
by Liz Warren
July Mt. Hood property sales followed the trend of the past six months with five sales closing in July. These sales were in Brightwood, Rhododendron, Government Camp and Welches.
Here are the numbers straight out of the Market Update distributed by the Portland multiple listing service.
Although there were only five sales closing in July, there was a definitive market change with buyers as we saw the middle of July and into the beginning of August. You can see this reflected in the pending sales, listed at 20. August closed sales should see the greatest number of the year. There has also been a boost in the inventory with 30 new properties to hit the market in July.
Below are the five sales in July. These are somewhat all over the place with one Condo, a manufactured home, two vacation properties and one foreclosure on the Sandy River. Two years ago that forecloser had sold for $300,000 plus but as a foreclosure it is sellilng at $180,000. There were multiple offers on this property.
Numbers for August sales should skyrocket with the number of pendings. Continued low interest rates and a huge inventory of homes make this a premium time to get that Mt. Hood property.
