A Publication of RMLS™, The Source for Real Estate Statistics in Your Community Residential Review: Metro Portland, Oregon April Residential Highlights The Portland metro area continued seeing seasonal gains this April, although numbers are cooler than in April 2015. New listings (4,082) gained some traction this month, rising 3.4% above the 3,949 new listings offered in April 2015, and 19.7% above the 3,409 new listings offered last month in March 2016. The last April there were more new listings was in 2010, when 4,713 were offered. Closed sales (2,611) ended 4.5% below the 2,734 closings posted last year in April 2015, but edged 1.8% ahead of the 2,565 closings recorded last month in March 2016.
April 2016 Reporting Period
Total market time in the Portland metro area decreased to 43 days this April, with inventory increasing very slightly to 1.4 months. There are currently a total of 3,721 active residential listings in the Portland metro area.
Average and Median Sale Prices Comparing the average price of homes in the twelve months ending April 30th of this year ($365,100) with the average price of homes sold in the twelve months ending April 2015 ($336,000) shows an increase of 8.7%. In the same comparison, the median has increased 9.8% from $290,000 to $318,500.
2016 2015
Average Sale Price % Change: +8.7% ($365,100 v. $336,000) Median Sale Price % Change: +9.8% ($318,500 v. $290,000)
For further explanation of this measure, see the second footnote on page 2.
New Listings
Pending Sales
Closed Sales
Average Sale Price
Median Sale Price
Total Market Time
April
4,082
3,432
2,611
397,700
350,000
43
March
3,409
3,076
2,565
385,100
335,000
51
13,059
11,198
9,140
376,900
329,000
52
3,949
3,613
2,734
347,500
301,300
61
13,345
11,479
8,567
336,400
290,000
73
3.4%
-5.0%
-4.5%
14.4%
16.2%
-29.6%
Prev Mo 2016
19.7%
11.6%
1.8%
3.3%
4.5%
-15.7%
Year-to-date
-2.1%
-2.4%
6.7%
12.0%
13.4%
-29.2%
Year-to-date
Change
*Inventory in Months is calculated by dividing the Active Residential Listings at the end of the month in question by the number of closed sales for that month. This includes proposed and under construction homes. Percent Change of 12-Month Sale Price Compared With The Previous 12 Months
Pending sales (3,432) rose 11.6% above the 3,076 accepted offers from March 2016 but were 5.0% lower than the 3,613 offers accepted last year in April 2015. Portland Metro Residential Highlights
Inventory in Months* 2014 2015 2016 January 4.1 3.4 1.8 February 3.9 3.0 1.8 March 3.1 1.9 1.3 April 2.8 1.8 1.4 May 2.8 1.7 June 2.8 1.6 July 2.9 1.7 August 3.0 1.9 September 3.1 1.9 October 2.8 1.8 November 3.2 2.0 December 2.3 1.2
April Year-to-date April
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AREA REPORT • 4/2016
Portland Metropolitan Area, Oregon
Average Sale Price
Closed Sales
Average Sale Price
Closed Sales
Average Sale Price
Avg. Sale Price % Change2
Median Sale Price
Average Sale Price
Closed Sales
Pending Sales 2016 v. 20151
Pending Sales
New Listings
3
Total Market Time
Average Sale Price
125
-23.3%
111
380,800
25
492
426
-13.8%
351
369,800
359,900
15.3%
6
825,600
12
208,700
11
509,500
NE Portland
219
333
36
282
-13.5%
217
434,400
29
1,109
968
-4.5%
818
399,300
350,000
9.7%
7
480,000
10
395,500
35
570,500
SE Portland
315
485
47
420
-0.9%
313
360,100
29
1,483
1,333
2.5%
1,099
342,700
300,000
9.7%
12
333,500
36
171,400
49
532,100
144
Closed Sales
14
Gresham/ Troutdale
232
242
32
242
-1.6%
172
281,600
39
841
798
3.1%
677
278,300
265,000
9.3%
8
440,600
12
141,900
19
261,400
145
Pending Sales 2016 v. 20151
146
Milwaukie/ Clackamas
380
351
37
289
-4.9%
231
378,200
45
1,109
938
2.9%
777
361,400
336,000
10.2%
2
850,500
61
156,000
7
407,400
Oregon City/ Canby
242
236
26
216
14.3%
170
383,800
50
787
716
21.8%
531
368,300
325,000
14.2%
3
146,800
35
220,000
6
488,100
Lake Oswego/ West Linn
324
244
38
177
-11.5%
150
650,000
57
774
566
-8.6%
457
605,400
513,000
9.3%
23
444,000
6
707,000
W Portland
422
445
63
330
-11.3%
237
544,000
36
1,329
1,027
-16.2%
833
528,700
460,000
9.2%
2
637,500
22
327,100
18
614,100
NW Wash Co.
184
208
25
161
4.5%
109
474,800
37
651
527
5.4%
431
464,200
440,000
6.3%
2
97,700
5
270,400
Beaverton/ Aloha
192
364
19
307
-14.0%
245
327,100
25
1,212
1,084
-11.9%
911
319,800
300,000
9.0%
4
217,500
15
182,400
9
462,500
Tigard/ Wilsonville
380
399
41
315
2.6%
250
416,700
49
1,266
1,014
-0.1%
804
394,000
370,000
11.5%
3
207,200
17
376,400
5
293,400
Hillsboro/ Forest Grove
219
275
25
229
-18.5%
182
341,100
51
845
745
-12.0%
641
324,200
295,000
10.9%
6
305,400
19
576,800
9
247,200
64
18
5
22
37.5%
17
224,800
68
81
71
54.3%
54
241,600
234,900
4.7%
9
100,200
Columbia Co.
163
130
13
117
20.6%
55
275,500
111
368
331
3.8%
251
240,700
229,000
7.8%
4
153,800
27
80,200
8
163,200
Yamhill Co.
290
206
29
200
13.0%
152
292,600
76
712
654
9.9%
505
278,800
251,000
8.0%
6
654,700
55
172,800
17
243,000
156
155
153
149
148
143
142
95
146
Pending Sales
Year-To-Date
147
Expired.Canceled Listings
MULTIFAMILY
Year-To-Date
150
New Listings
Active Listings
LAND
Year-To-Date
151
141
COMMERCIAL
152
N Portland
Year-To-Date
Closed Sales
RESIDENTIAL Current Month
1
Mt. Hood
-
-
-
-
-
-
-
-
Percent change in number of pending sales this year compared to last year. The Current Month section compares April 2016 with April 2015. The Year-ToDate section compares 2016 year-to-date statistics through April with 2015 year-to-date statistics through April.
2
% Change is based on a comparison of the rolling average sale price for the last 12 months (5/1/15-4/30/16) with 12 months before (5/1/14-4/30/15).
3
Total Market Time is the number of days from when a property is listed to when an offer is accepted on that same property. If a property is re-listed within 31 days, Total Market Time continues to accrue; however, it does not include the time that it was off the market.
2
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8,500
ACTIVE RESIDENTIAL LISTINGS
7,500
PORTLAND, OR
6,500
This graph shows the active
5,500
residential listings over the
4,500
past three calendar years in
3,500
the greater Portland,
2,500
Oregon metropolitan area.
Active Residential Listings
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2014 5,671 5,752 5,811 6,093 6,858 7,250 7,727 7,784 7,438 6,963 6,131 5,146 2015 4,996 4,947 4,767 4,853 5,125 5,388 5,708 5,837 5,657 5,021 4,252 3,381 2016 3,305 3,226 3,318 3,721
TOTAL ACTIVE LISTINGS PORTLAND, OR
Total Active Listings 11,000 10,000
This graph shows the
9,000
total active listings over
8,000
the past three calendar
7,000
years in the greater
6,000
Portland, Oregon
5,000
metropolitan area.
4,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2014 7,606 7,731 7,702 8,066 8,928 9,290 9,829 9,872 9,483 8,959 8,098 6,839 2015 6,764 6,718 6,518 6,622 6,934 7,175 7,549 7,665 7,417 6,737 5,905 4,785 2016 4,743 4,674 4,754 5,140
NEW LISTINGS
New Listings
PORTLAND, OR
4,500
This graph shows the
4,000
new residential listings
3,500
over the past three
3,000 2,500
calendar years in the
2,000
greater Portland, Oregon
1,500 1,000
metropolitan area.
2014
2015
2016
3
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PENDING LISTINGS
Pending Sales
PORTLAND, OR
4,000
This graph represents
3,500
monthly accepted offers
3,000
in the Portland, Oregon
2,500
metropolitan area over
2,000
the past three calendar
1,500
years.
1,000
2014
2015
2016
CLOSED SALES
Closed Sales
PORTLAND, OR
This graph shows the
3,500
closed sales over the past
3,000
five calendar years in the greater Portland, Oregon metropolitan area.
2,500 2012
2,000
2013
1,500
2014
1,000
2015
500
2016
0
DAYS ON MARKET
Average Total Market Time
PORTLAND, OR
110 100 90 80 70 60 50 40 30 20
This graph shows the average market time for sales in the Portland, Oregon metropolitan area over the past three calendar years. 2014 TMT
2015 TMT
2016 TMT
4
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SALE PRICE
This graph represents the average and median sale price for all homes sold in
PORTLAND, OR
the Portland, Oregon metropolitan area.
Average and Median Sale Price $425,000 $375,000 $325,000 $275,000
Average Sale Price
Apr-16
Jan-16
Oct-15
Jul-15
Apr-15
Jan-15
Jul-14
Median Sale Price
MEDIAN SALE PRICE
Median Sale Price: Portland, OR & Clark Co., WA
PORTLAND, OR
$400,000 $350,000
This graph shows the
$300,000
median sale price over
$250,000
the past 12 months in
$200,000
the greater Portland,
$150,000 $100,000
Oct-14
Apr-14
Jan-14
Oct-13
Jul-13
Apr-13
Jan-13
Jul-12
Oct-12
Apr-12
Jan-12
Oct-11
Jul-11
Apr-11
Jan-11
Jul-10
Oct-10
Apr-10
Jan-10
Oct-09
Jul-09
Apr-09
Jan-09
Jul-08
Oct-08
$175,000
Apr-08
$225,000
Oregon, metropolitan APR
MAY JUNE JULY AUG SEPT OCT Clark County
NOV
DEC
JAN
FEB
Metro Portland, OR
5
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MAR
APR
area and Clark County.
MEDIAN SALE PRICE April 2016
SW WASHINGTON
$309,900
$294,000
Woodland
N/NE Clark County
PORTLAND
$285,000 $380,000
Battle Ground
Ridgefield/La Center
METRO
$ 258,000 Columbia County $335,500 Salmon Creek $302,700 Felida
$ 471,000 North Washington County Sauvie Island
Brush Prairie Hockinson
$250,000 Hazel Dell Minnehaha
$239,000 5 Corners Orch.
$224,000 Cent. Vancouver
$ 310,000 Beaverton
$ 479,900 West Portland
Aloha
$ 387,300 Tigard/Tualatin Sherwood Wilsonville
$426,500 Camas/Washougal $ 413,000 NE Portland $ 321,800 SE Portland $ 350,000
$ 559,100
Milwaukie/Gladstone/ Boring/Clackamas Estacada
Lake Oswego West Linn
$ 262,500 $ 335,500 Oregon City Canby Molalla Beavercreek
Yamhill County
6
$260,000 Cascade Park
$257,500 Heights
$ 377,800 N Portland
$ 308,300 Hillsboro Forest Grove
$346,000
© Copyright RMLS™ 2016. All Rights Reserved.
$ 269,500 Gresham Troutdale Sandy Corbett Fairview
$ 216,000 Mt. Hood: Zigzag Welches Rhododendron Wemme Brightwood Government Camp
MULTIPLE LISTING SERVICE
ACTIVE & CLOSED CONDOS PORTLAND, OR
Contact RMLS™ 8338 NE Alderwood Rd Suite 230 Portland, OR 97220 (503) 236-7657
This graph shows the number of active and closed condos in the Portland, Oregon, metropolitan area.
Active & Closed Condos 600 500
communications@rmls.com
400 300 200
The statistics presented in Market Action are compiled monthly based on figures generated by RMLS™.
100 0
Active Listings
RMLS™ was formed by area Boards and Associations of REALTORS® in 1991. E-mail subscriptions are available for $45 per year by contacting RMLS™. Reproduction of any portion of this copyrighted material is prohibited without prior approval of RMLS™.
AFFORDABILITY PORTLAND, OR
This graph shows the affordability for housing in Portland, Oregon in March 2015.
Affordability Index 200 180 160 140 120 100 80 60 40 20 0
Jun-07 Sep-07 Dec-07 Mar-08 Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 Jun-11 Sep-11 Dec-11 Mar-12 Jun-12 Sep-12 Dec-12 Mar-13 Jun-13 Sep-13 Dec-13 Mar-14 Jun-14 Sep-14 Dec-14 Mar-15 Jun-15 Sep-15 Dec-15 Mar-16
Market Action Reports are compiled for the following areas: Portland metropolitan area, Southwest Washington, Mid-Columbia, Columbia Basin, Baker County, Coos County, Curry County, Douglas County, Grant County, Josephine County, Lane County, North Coastal Counties, Polk & Marion Counties, Union County, and Wallowa County.
Closed Sales
AFFORDABILITY - According to a formula from the National Association of Realtors®, buying a house in the Portland metro area is affordable for a family earning the median income. A family earning the median income ($73,300 in 2015, per HUD) can afford 124% of a monthly mortgage payment on a median priced home ($335,000 in March). The formula assumes that the buyer has a 20% down payment and a 30 year fixed rate of 3.69% (per Freddie Mac).
Craig Fahner, Chairman of the Board Kurt von Wasmuth, President/CEO Tyler Chaudhary, Editor © Copyright RMLS™ 2016. All Rights Reserved.