A Publication of RMLS™, The Source for Real Estate Statistics in Your Community Residential Review: Metro Portland, Oregon May Residential Highlights May brought some moderate activity increases to the Portland metro area, but the numbers are cooler than last May. Pending sales (3,563) ended 0.5% higher than the accepted offers from May 2015 (3,546) and 3.8% higher than last month in April 2016. New listings, at 4,144, fell 0.4% short of the 4,161 new listings offered last year in May 2015 but edged 1.5% over the 4,082 new listings offered last month in April 2016. Similarly, closed sales (2,896) increased 10.9% from the 2,611 closings posted last month in April 2016 but fell 1.6% short of the closings posted the same month last year in May 2015.
May 2016 Reporting Period
Inventory remained unchanged in May and currently sits at 1.4 months. Total market time decreased by a few days and currently stands at 37 days. There are currently 4,003 active residential listings in circulation in the Portland metro area.
Average and Median Sale Prices Prices continue to rise in the Portland metro area. Comparing 2016 to 2015 through May, the average sale price rose 11.9% from $342,300 to $383,000. In the same comparison, the median sale price rose 13.3% from $295,000 to $334,200.
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 1.4 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 *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 Average Sale Price % Change: +9.1% ($369,100 v. $338,200) Median Sale Price % Change: +9.6% ($320,000 v. $292,000)
For further explanation of this measure, see the second footnote on page 2.
2016
Portland Metro Residential Highlights
2015
Pending Sales
Closed Sales
Average Sale Price
Median Sale Price
Total Market Time
May
4,144
3,563
2,896
402,500
354,500
37
April
4,082
3,432
2,611
397,700
350,000
43
17,287
14,611
12,170
383,000
334,200
48
4,161
3,546
2,942
359,100
313,000
55
17,605
14,855
11,670
342,300
295,000
68
-0.4%
0.5%
-1.6%
12.1%
13.3%
-33.3%
Prev Mo 2016
1.5%
3.8%
10.9%
1.2%
1.3%
-14.0%
Year-to-date
-1.8%
-1.6%
4.3%
11.9%
13.3%
-29.6%
Year-to-date
Change
New Listings
May Year-to-date May
© Copyright RMLS™ 2016. All Rights Reserved.
AREA REPORT • 5/2016
Portland Metropolitan Area, Oregon RESIDENTIAL
COMMERCIAL
LAND
MULTIFAMILY
Year-To-Date
Year-To-Date
Year-To-Date
14.4%
6
825,600
15
219,600
17
509,200
NE Portland
236
350
41
303
-1.3%
269
426,800
23
1,466
1,263
-3.7%
1,103
405,600
355,000
10.8%
9
438,300
15
347,900
43
588,500
SE Portland
349
474
62
399
-3.2%
346
388,000
20
1,965
1,715
1.2%
1,464
353,300
310,000
10.3%
13
335,700
46
189,500
65
565,400
144
Gresham/ Troutdale
239
280
25
256
2.0%
183
298,900
37
1,124
1,037
2.8%
872
282,400
269,900
10.3%
10
403,200
17
143,600
24
266,900
145
Milwaukie/ Clackamas
393
361
44
307
1.7%
240
366,500
46
1,476
1,234
2.6%
1,024
362,200
336,000
8.6%
3
627,000
73
156,400
12
421,000
146
Oregon City/ Canby
252
215
26
188
-4.6%
180
370,000
54
1,007
889
14.9%
718
368,200
330,000
14.6%
3
146,800
42
233,700
11
413,900
147
Lake Oswego/ West Linn
349
225
33
169
-11.5%
163
593,200
52
1,004
728
-9.5%
624
606,700
514,000
10.8%
27
504,700
6
707,000
W Portland
476
445
61
356
5.0%
311
572,900
31
1,784
1,376
-11.0%
1,154
540,600
465,000
10.2%
2
637,500
33
305,500
23
624,700
NW Wash Co.
198
223
29
186
5.7%
141
480,700
38
885
707
4.0%
577
468,900
450,000
4.9%
4
117,600
7
243,900
150
Beaverton/ Aloha
223
356
36
330
-8.1%
284
337,000
22
1,571
1,396
-10.5%
1,210
323,700
300,500
8.6%
5
644,000
17
189,800
11
449,000
Tigard/ Wilsonville
375
401
45
383
21.2%
236
407,600
36
1,671
1,388
5.2%
1,051
397,100
371,000
11.8%
5
260,300
24
354,500
5
293,400
Hillsboro/ Forest Grove
251
262
19
231
-9.8%
199
327,400
42
1,119
974
-10.5%
852
325,600
297,800
11.0%
6
305,400
23
565,200
14
293,200
65
28
8
18
-10.0%
18
201,000
114
109
87
33.8%
72
231,400
230,300
6.9%
11
111,300
Columbia Co.
175
136
9
122
37.1%
78
248,100
52
507
443
9.4%
332
241,900
230,000
6.7%
5
167,000
36
88,400
11
169,900
Yamhill Co.
298
205
15
179
-2.7%
151
308,100
63
921
816
7.5%
660
285,000
257,400
10.0%
8
632,400
62
178,200
20
261,100
142 143 148 149 153 155 156 1
-
Pending Sales
New Listings
Total Market Time
Closed Sales -
-
-
Average Sale Price
360,000
Closed Sales
372,400
Average Sale Price
457
Average Sale Price
-12.4%
Closed Sales
558
Avg. Sale Price % Change2
678
Median Sale Price
32
Average Sale Price
391,700
Closed Sales
97
Mt. Hood
Pending Sales 2016 v. 20151
-7.5%
3
Pending Sales 2016 v. 20151
136
Average Sale Price
Pending Sales
23
Closed Sales
New Listings 183
Expired.Canceled Listings
Active Listings 124
141
N Portland
151
Year-To-Date
152
Current Month
-
-
-
-
Percent change in number of pending sales this year compared to last year. The Current Month section compares May 2016 with May 2015. The Year-ToDate section compares 2016 year-to-date statistics through May with 2015 year-to-date statistics through May.
2
% Change is based on a comparison of the rolling average sale price for the last 12 months (6/1/15-5/31/16) with 12 months before (6/1/14-5/31/15).
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 4,003
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 5,438
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
Feb-16
May-16
Nov-15
Aug-15
May-15
Feb-15
Nov-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
Aug-14
Feb-14
May-14
Nov-13
Aug-13
May-13
Feb-13
Nov-12
Aug-12
Feb-12
May-12
Nov-11
Aug-11
May-11
Feb-11
Nov-10
Aug-10
May-10
Feb-10
Nov-09
Aug-09
Feb-09
May-09
Nov-08
Aug-08
$175,000
May-08
$225,000
Oregon, metropolitan MAY JUNE JULY AUG SEPT OCT Clark County
NOV
DEC
JAN
FEB
MAR
Metro Portland, OR
5
© Copyright RMLS™ 2016. All Rights Reserved.
APR
MAY
area and Clark County.
MEDIAN SALE PRICE May 2016
SW WASHINGTON
$349,900
$260,000
Woodland
N/NE Clark County
PORTLAND
$268,000 $351,400
Battle Ground
Ridgefield/La Center
METRO
$ 238,000 Columbia County $393,000 Salmon Creek $324,900 Felida
$ 480,000 North Washington County Sauvie Island
Brush Prairie Hockinson
$277,900 Hazel Dell Minnehaha
$250,000 5 Corners Orch.
$236,000 Cent. Vancouver
$ 320,000 Beaverton
$ 490,500 West Portland
Aloha
$ 390,500 Tigard/Tualatin Sherwood Wilsonville
$386,400 Camas/Washougal $ 372,500 NE Portland $ 357,600 SE Portland $ 340,500
$ 511,000
Milwaukie/Gladstone/ Boring/Clackamas Estacada
Lake Oswego West Linn
$ 278,000 $ 359,400 Oregon City Canby Molalla Beavercreek
Yamhill County
6
$269,200 Cascade Park
$339,900 Heights
$ 365,900 N Portland
$ 303,000 Hillsboro Forest Grove
$338,000
© Copyright RMLS™ 2016. All Rights Reserved.
$ 282,500 Gresham Troutdale Sandy Corbett Fairview
$ 178,800 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 communications@rmls.com
This graph shows the number of active and closed condos in the Portland, Oregon, metropolitan area.
Active & Closed Condos 600 500 400 300
The statistics presented in Market Action are compiled monthly based on figures generated by RMLS™.
200 100 0
Active Listings
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.
MEDIAN SALE PRICE CONDOS PORTLAND, OR
Closed Sales
This graph represents the median sale price for all condos sold in the last three calendar years in the Portland, Oregon metropolitan area. Median Condo Sale Price
$250,000 $225,000 $200,000 $175,000 $150,000
RMLS™ was formed by area Boards and Associations of REALTORS® in 1991.
$125,000
2014
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™.
2015
2016
Craig Fahner, Chairman of the Board Kurt von Wasmuth, President/CEO Tyler Chaudhary, Editor © Copyright RMLS™ 2016. All Rights Reserved.