Real Estate in Forest Heights & 2010 Results!

Looks like first time home buyers jumped on opportunities in Forest Heights in 2010. Just over the hill and part of Portland’s West Hills, Forest Heights real estate took a nice step forward last year!

• Yes, closing on 12 more homes in 2010 than in 2009 is good! It provided a 13% increase in sold homes and that a statistic we WANT to see!
• First time home buyer range of under $300k is where most of that increase came from. It’s a critical price range for every neighborhood…it gets new people in and hopefully in the future, they’ll buy up as their needs change.
• What was really encouraging to see was the stronger trend of closed sales for homes $500k and up. This neighborhood had one of the best results for that price range in 2010.
• The market analyzer below shows strong listing bell curve in line with history fluctuation however, do you see the home sales? Do you see how they are consistent through the whole year and not just peaked in May and June? This is goooood!!
• Hard to believe, but Forest Heights has done one of the better jobs in the West Hills neighborhoods of keeping closing prices to under -10% of the last list price. Bank owned properties do impact that number and as we get into 2011 and REO’s get purchased an off the market, we’ll see a return to realistic closed dollars as a % to the most recent price.
• Scroll all the way down to view current MLS active listings of homes for sale in Forest Heights.
• View all West Hills Home Sales for 2010

Here’s to a great 2011!

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