Market Action presented by #Houghteam A Publication of RMLS™, The Source for Real Estate Statistics

Page 1

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

© Copyright RMLS™ 2016. All Rights Reserved.


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

© Copyright RMLS™ 2016. All Rights Reserved.


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

© Copyright RMLS™ 2016. All Rights Reserved.


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

© Copyright RMLS™ 2016. All Rights Reserved.


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

© Copyright RMLS™ 2016. All Rights Reserved.

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.


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