Tualatin Oregon sits at just South of downtown Portland by about 15 to 20 minutes along the I5 corridor. It’s home to several residential neighborhoods, retail outlets, and a few commercial industries.
There are currently 149 homes for sale within Tualatin priced from about $50,000 for manufactured homes, short sales and foreclosures to $2,299,000 for single-family home with five bedrooms, five bath and over 7600 ft.² of living space on Meridian way. Of course, Tualatin offers a variety of home prices from single-family homes and condominiums to luxury estates. Currently the average listing price for Tualatin is about $500,000 which is up $10,000 over last month. The median sales prices up 18.7% over last year at this time or $52,000, topping out at $335,000.
The median sales price over the last 10 years hit its low in 2004 at about $220,000. The sales price hit its peak at $401,000 in 2008. Since then it has slowly decreased and tell the middle of 2012 and since then has constantly risen up to the $335,000 mark we see today. This trend is continuing upward at about the only number that hasn’t gone up as the number of sales for Tualatin. In 2009 was the lowest number of sales on record over the last 13 years at less than 40 home sold per month. During the beginning of summer and the end of spring, 2013 was the highest peak at about 150 home sold and currently is dropped underneath the 100 mark at about 80 to 90 homes sold per month.
What does this all mean for buyers and sellers?
Buyers will have less options to choose from in the Tualatin area but this is fairly common right now across the board in cities such as Lake Oswego, Beaverton and downtown Portland. This naturally will make home prices rise so buyers should jump on the market if they’re looking to buy a home before prices go too much higher. But interest rates are also increasing so buyers need to consider how much longer they are willing to hold off.
Sellers can stand to get a decent price for their home depending on how long they’ve owned it. If you’ve been waiting for a time to sell now would be a great time before we had too far into the winter. There will be fewer buyers on the market as we headed to the holidays so buying now means you’ll probably get a good price for the home and the home will not sit on the market too long.
Call me today and let’s discuss what your Tualatin property value is currently.
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