hillsboro market information
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MARKET UPDATEFidelity's
· Current Real Estate Market Conditions for Single Family Homes· Trends in Pricing· Current Levels of Supply and Demand· Value Metrics
· Report for the week ofAugust 24, 2009
· Presented by Jeff MeucciFidelity National Titlewww.fidelityportland.com - jeff.meucci@fnf.com(503) 223-8338
HILLSBORO, OR
Powered by Altos Research LLC | www.altosresearch.com | Copyright © 2005-2009 Altos Research LLC
Median List Price
Median Lot Size
18.0
Percent Relisted (reset DOM)
1925
2.5
4 %
Number of Bathrooms
136
Inventory of Properties Listed
$ 148
Percent Flip (price increased)
8,001 - 10,000 sqft
Median House Size (sq ft)
$ 276,350
41 %
3.0
Market Action
Number of Bedrooms
Asking Price Per Square Foot
15 %
Percent of Properties with Price Decrease
Strong Buyer's
≠≠
≠≠
==
==
==
Altos Research Value Statistics
Most Expensive Listing
Average Days on Market (DoM)
Bottom/Fourth
Lower/Third
Upper/Second
Top/First
This Week Real-Time Market Profile Trend
The Market Action Index answers the question "How's the Market?" By measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's ddvantage. Below 30, conditions give the advantage to thebuyer.
Supply and Demand
Characteristics per Quartile
15 8298
1062.5 16
3.0
9
120
3.0 117
144
8
7
0.50 - 1.0acre
34
$ 249,900
7
5
117
3.0
4,501 -6,500 sqft
82.5
129 4,501 -6,500 sqft
117
$ 189,900
4.0
176
4,501 -6,500 sqft$ 314,000
4.0$ 525,000
12
12
218
Inventory has been lightening latelyand the Market Action Index has beentrending up. Though days-on-marketis increasing, these are mildly positiveindications for the market.
Thursday August 20, 2009
Jeff Meucci | Fidelity National Title | 503-223-8338
117
172
2.0
The median list price in HILLSBORO,OR this week is $276,350. The 468properties have been on the marketfor an average of 119 days.
Most expensive 25% of properties
Upper-middle 25% of properties
Lower-middle 25% of properties
Least expensive 25% of properties
Quartile Median Price Lot Size Beds Baths Age Inventory New Absorbed DOMSq. Ft.
No change
Strong upward Strong downward
Slight upward Slight downward trend±+
== ≠≠
≠=
HILLSBORO, ORCity Overview
Least Expensive Listing
Average List Price
Average Age of Listing
468
$ 2,950,000
$ 75,000
$ 364,419
28
Trend Key:
Home sales have been exceedingnew inventory for several weeks.However because of excessinventory, prices have not yetstopped falling. Should the salestrend continue, expect prices tolevel off soon and potentially toresume their climb from there.Watch prices as the markettransitions from a Buyer's market toa Seller's market.
Jeff Meucci | Fidelity National Title | 503-223-8338City Overview
HILLSBORO, OR
Thursday August 20, 2009
Median PricePrices in this zip code have been on a downward trend recently and this week, while essentially flat, doesn't break us out of thatcycle.
90-day Average7-day Average
Quartile PricesIn the quartile market segments, we see most of the market for this zip code showing price weakness lately. Notice however,that Quartile 4 at the low-end of the market is still on an up-trend. Often this condition happens in markets where demand hasfallen (for example, due to micro-location variables) but supply is still relatively short. Buyers are focusing on the lowest pricehomes in the area.
First/Top Second/Upper Third/Lower Fourth/Bottom
Jeff Meucci | Fidelity National Title | 503-223-8338City Overview
HILLSBORO, OR
Thursday August 20, 2009
Price per Square FootWe're seeing fairly unusual market conditions as prices have been in a downward trend but price per square foot is actuallyincreasing. (Buyers are paying less and getting less home for their money.) Anomalies like these can be attributed to micro-location variables.
90-day Average7-day Average
Inventory of Properties Listed for SaleInventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look tothe Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.
90-day Average7-day Average
Jeff Meucci | Fidelity National Title | 503-223-8338City Overview
HILLSBORO, OR
Thursday August 20, 2009
Market Action IndexThe HILLSBORO market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Indexstands at 16.12. With several months of inventory available at the current sales rate, buyers should find ample choice.
Buyers/Sellers90-day Average
Market Action Index per QuartileNot surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels ofdemand. Watch the quartiles for changes before the overall market shifts.
First/Top Second/Upper Third/Lower Fourth/Bottom
Buyers/Sellers Cutoff
Residential house prices are a function of supply and demand, and market conditions can be characterized byanalyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantagezone (below 30) for a long period, prices are likely in for a downward correction.
The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of thecurrent rate of sale versus current inventory.
Jeff Meucci | Fidelity National Title | 503-223-8338City Overview
HILLSBORO, OR
Thursday August 20, 2009
Days on MarketThe properties have been on the market for an average of 136 days. Half of the listings have come newly on the market in thepast 119 or so days.
90-day Average7-day Average
Days on Market per QuartileIt is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.
First/Top Second/Upper Third/Lower Fourth/Bottom
Median List Price
Median Lot Size
19.2
Percent Relisted (reset DOM)
1903
2.5
4 %
Number of Bathrooms
131
Inventory of Properties Listed
$ 141
Percent Flip (price increased)
4,501 - 6,500 sqft
Median House Size (sq ft)
$ 268,500
44 %
3.0
Market Action
Number of Bedrooms
Asking Price Per Square Foot
14 %
Percent of Properties with Price Decrease
Strong Buyer's
≠≠
==
==
==
==
Altos Research Value Statistics
Most Expensive Listing
Average Days on Market (DoM)
Bottom/Fourth
Lower/Third
Upper/Second
Top/First
This Week Real-Time Market Profile Trend
The Market Action Index answers the question "How's the Market?" By measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's ddvantage. Below 30, conditions give the advantage to thebuyer.
Supply and Demand
Characteristics per Quartile
21 3309
972.5 16
3.0
5
106
3.0 63
135
6
4
1.0 - 2.5acres
36
$ 239,900
4
3
63
2.5
4,501 -6,500 sqft
62.5
128 4,501 -6,500 sqft
63
$ 180,000
4.0
188
4,501 -6,500 sqft$ 290,700
4.0$ 571,250
13
9
222
Inventory has been lightening latelyand the Market Action Index has beentrending up. Though days-on-marketis increasing, these are mildly positiveindications for the market.
Thursday August 20, 2009
Jeff Meucci | Fidelity National Title | 503-223-8338
62
169
2.0
The median list price in HILLSBORO,OR 97123 this week is $268,500. The251 properties have been on themarket for an average of 119 days.
Most expensive 25% of properties
Upper-middle 25% of properties
Lower-middle 25% of properties
Least expensive 25% of properties
Quartile Median Price Lot Size Beds Baths Age Inventory New Absorbed DOMSq. Ft.
No change
Strong upward Strong downward
Slight upward Slight downward trend±+
== ≠≠
≠=
HILLSBORO, OR97123
Neighborhood Detail
Least Expensive Listing
Average List Price
Average Age of Listing
251
$ 2,950,000
$ 75,000
$ 352,716
28
Trend Key:
Home sales have been exceedingnew inventory for several weeks.While still a Buyer's market, pricesseem to have responded by movingupward. If the demand trendscontinue, expect prices to keepmarching upward, especially oncewe see a Seller's Market.
Jeff Meucci | Fidelity National Title | 503-223-8338Neighborhood Detail
HILLSBORO, OR97123
Thursday August 20, 2009
Median PriceIn this zip code this week saw relatively little price change from last week. However, we continue to demonstrate a nice uptrend over the last several weeks.
90-day Average7-day Average
Quartile PricesIn the quartile market segments, we see the market's price weakness evident across the board. All four quartiles have been inprice decline in recent weeks. Look to the Market Action Index as a leading indicator of the bottom of the market.
First/Top Second/Upper Third/Lower Fourth/Bottom
Jeff Meucci | Fidelity National Title | 503-223-8338Neighborhood Detail
HILLSBORO, OR97123
Thursday August 20, 2009
Price per Square FootThe market appears to be placing an increasing premium on homes. When list prices and price per square foot consistentlyincrease in tandem, as they're doing now, you can often find short-term investment opportunities. Watch the Market ActionIndex for persistent changes as a leading indicator for these trends to flatten or drop.
90-day Average7-day Average
Inventory of Properties Listed for SaleInventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look tothe Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.
90-day Average7-day Average
Jeff Meucci | Fidelity National Title | 503-223-8338Neighborhood Detail
HILLSBORO, OR97123
Thursday August 20, 2009
Market Action IndexThe HILLSBORO, 97123 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 15.40. With several months of inventory available at the current sales rate, buyers should find ample choice.
Buyers/Sellers90-day Average
Market Action Index per QuartileNot surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels ofdemand. Watch the quartiles for changes before the overall market shifts.
First/Top Second/Upper Third/Lower Fourth/Bottom
Buyers/Sellers Cutoff
Residential house prices are a function of supply and demand, and market conditions can be characterized byanalyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantagezone (below 30) for a long period, prices are likely in for a downward correction.
The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of thecurrent rate of sale versus current inventory.
Jeff Meucci | Fidelity National Title | 503-223-8338Neighborhood Detail
HILLSBORO, OR97123
Thursday August 20, 2009
Days on MarketThe properties have been on the market for an average of 131 days. Half of the listings have come newly on the market in thepast 119 or so days.
90-day Average7-day Average
Days on Market per QuartileIt is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.
First/Top Second/Upper Third/Lower Fourth/Bottom
Median List Price
Median Lot Size
16.3
Percent Relisted (reset DOM)
1981
2.5
4 %
Number of Bathrooms
142
Inventory of Properties Listed
$ 152
Percent Flip (price increased)
8,001 - 10,000 sqft
Median House Size (sq ft)
$ 299,900
39 %
3.0
Market Action
Number of Bedrooms
Asking Price Per Square Foot
16 %
Percent of Properties with Price Decrease
Strong Buyer's
≠≠
≠≠
≠≠
==
≠≠
Altos Research Value Statistics
Most Expensive Listing
Average Days on Market (DoM)
Bottom/Fourth
Lower/Third
Upper/Second
Top/First
This Week Real-Time Market Profile Trend
The Market Action Index answers the question "How's the Market?" By measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's ddvantage. Below 30, conditions give the advantage to thebuyer.
Supply and Demand
Characteristics per Quartile
15 6294
942.5 14
3.0
4
125
3.0 54
179
1
2
0.25 - 0.50acre
35
$ 263,500
3
3
55
3.0
4,501 -6,500 sqft
22.5
134 8,001 -10,000 sqft
54
$ 199,900
3.5
170
4,501 -6,500 sqft$ 349,450
4.0$ 494,000
11
3
226
Inventory has been decreasing latelybut the Market Action Index is fallingalso. With days-on-market climbing,these are relatively negativeimplications for the market.
Thursday August 20, 2009
Jeff Meucci | Fidelity National Title | 503-223-8338
54
177
2.0
The median list price in HILLSBORO,OR 97124 this week is $299,900. The217 properties have been on themarket for an average of 112 days.
Most expensive 25% of properties
Upper-middle 25% of properties
Lower-middle 25% of properties
Least expensive 25% of properties
Quartile Median Price Lot Size Beds Baths Age Inventory New Absorbed DOMSq. Ft.
No change
Strong upward Strong downward
Slight upward Slight downward trend±+
== ≠≠
≠=
HILLSBORO, OR97124
Neighborhood Detail
Least Expensive Listing
Average List Price
Average Age of Listing
217
$ 2,688,800
$ 89,900
$ 377,957
28
Trend Key:
The market has been consistentlycool for several weeks. Demandlevel are low relative to theavailable inventory. It's a Buyer'smarket and prices continue to fall.Look for a persistent shift in MarketAction before prices plateau or beginto rise again.
Jeff Meucci | Fidelity National Title | 503-223-8338Neighborhood Detail
HILLSBORO, OR97124
Thursday August 20, 2009
Median PricePrices in this zip code have been on a downward trend recently and this week, while essentially flat, doesn't break us out of thatcycle.
90-day Average7-day Average
Quartile PricesIn the quartile market segments, we see prices in this zip code generally settled at a plateau, although Quartile 2 has beentrending a bit downward in recent weeks. We'll need to see a persistent shift in the Market Action Index before we see pricesacross the board move from these levels.
First/Top Second/Upper Third/Lower Fourth/Bottom
Jeff Meucci | Fidelity National Title | 503-223-8338Neighborhood Detail
HILLSBORO, OR97124
Thursday August 20, 2009
Price per Square FootThe market's downward trends are shared across both price and value. People are recently placing less value on homes (you cansee the recent declines in price per square foot as evidence.) Look for significant changes in the Market Action Index as aprecursor to price and value changes, possibly as inflection points for good investment opportunities.
90-day Average7-day Average
Inventory of Properties Listed for SaleInventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look tothe Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.
90-day Average7-day Average
Jeff Meucci | Fidelity National Title | 503-223-8338Neighborhood Detail
HILLSBORO, OR97124
Thursday August 20, 2009
Market Action IndexThe HILLSBORO, 97124 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 16.60. With several months of inventory available at the current sales rate, buyers should find ample choice.
Buyers/Sellers90-day Average
Market Action Index per QuartileNot surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels ofdemand. Watch the quartiles for changes before the overall market shifts.
First/Top Second/Upper Third/Lower Fourth/Bottom
Buyers/Sellers Cutoff
Residential house prices are a function of supply and demand, and market conditions can be characterized byanalyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantagezone (below 30) for a long period, prices are likely in for a downward correction.
The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of thecurrent rate of sale versus current inventory.
Jeff Meucci | Fidelity National Title | 503-223-8338Neighborhood Detail
HILLSBORO, OR97124
Thursday August 20, 2009
Days on MarketThe properties have been on the market for an average of 142 days. Half of the listings have come newly on the market in thepast 112 or so days.
90-day Average7-day Average
Days on Market per QuartileIt is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.
First/Top Second/Upper Third/Lower Fourth/Bottom
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