Tigard Oregon is located about 15 to 20 minutes South of downtown Portland and just South of Beaverton nestled along the West side of I5. There are currently 371 homes for sale within Tigard priced from about $60,000-$3,400,00 for single-family homes, there are several foreclosures, bank owned homes and manufactured homes for less than 60,000 and a few lots and large parcels of land priced up to $6 million.
Of these homes for sale 140 are foreclosures at about 230 are actual seller/owner’s. The average listing price in Tigard is currently about $378,000 and the median sales price is $307,000. The sales price is what a home actually sold which is not always the listing price. The median sales price has gone up 13% over last year at this time or about $35,000.
Sales prices for Tigard Oregon hit its peak at $358,000 in 2007 and over the last 10 years hit its low at the beginning of 2012 at about $190,000. Since then the market has slowly been creeping up and we are seeing the highest median sales price since 2008.
The average price for two bedroom home in Tigard is roughly $209,000 which is up 11% over last year; a three-bedroom home’s average is $289,000 which is up nearly 16% over last year and a four bedroom home has an average price of $361,000 which is up 16.5% over last year.
The number of listings is the only number that has gone down over the last six months. There are fewer homes on the market which is naturally driving up the listing and the sales price of homes. Builders and developers are now scrambling to keep up with the demand for new homes as first-time homebuyers and repeat buyers are looking for new construction.
Buyers are now realizing that because interest rates and prices are going up, now is the better time to purchase rather than waiting 6 to 8 months. More sellers are pricing their homes correctly and actually receiving the asking price for their home.
For Sellers: 4 Reasons You Need to Sell Now
If you’re interested in what you’re home in Tigard is currently worth, call me today. I would be happy to run the numbers and find out home prices in your neighborhood.
For Buyers: Interest Rates are Going Up - Should I Buy?