A Publication of RMLS™, The Source for Real Estate Statistics in Your Community Residential Review: Metro Portland, Oregon September Residential Highlights The Portland metro area saw some clouds roll into real estate activity this September. New listings (3,673) fared 7.3% better than in September 2015 (3,424) but were 12.6% cooler than in August 2016 (4,203). This was the best September for new listings in the Portland metro region since 2008, when 4,200 were offered for the month.
September 2016 Reporting Period
September to 2.0 months. Total market time increased by one day, climbing to 35 days. There were 5,614 active residential listings in the Portland metro area in September.
Year to Date Summary Activity has been mixed in 2016 compared to 2015. New listings (34,416) are up 1.7%. Closed sales (24,600) are down 2.6% and pending sales (26,794) are down 2.8% for the Pending sales (2,857) fell 3.8% year thus far. short of September of last year Average and Median Sale Prices (2,971) and 14.1% short of the 3,325 Prices continue to rise in the offers accepted last month in August Portland metro area. Comparing 2016. 2016 to 2015 through September, Closed sales, at 2,823, were the average sale price rose 11.4% similarly 6.2% cooler compared to from $352,500 to $392,600. In the September 2015 (3,010) and 5.9% same comparison, the median sale cooler compared to August 2016 price rose 13.1% from $305,000 to (3,001). $345,000. Inventory in the Portland metro area increased just slightly in
2016
Portland Metro Residential Highlights
2015
Pending Sales
Closed Sales
Average Sale Price
*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: +10.4% ($384,400 v. $348,300) Median Sale Price % Change: +12.0% ($336,000 v. $300,000)
For further explanation of this measure, see the second footnote on page 2.
Median Sale Price
Total Market Time
September
3,673
2,857
2,823
392,200
350,300
35
August
4,203
3,325
3,001
400,100
353,000
34
34,416
26,794
24,600
392,600
345,000
41
3,424
2,971
3,010
349,000
304,700
46
33,836
27,569
25,264
352,500
305,000
55
7.3%
-3.8%
-6.2%
12.4%
15.0%
-24.5%
-12.6%
-14.1%
-5.9%
-2.0%
-0.8%
2.9%
1.7%
-2.8%
-2.6%
11.4%
13.1%
-26.5%
Year-to-date
Change
New Listings
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 1.5 July 2.9 1.7 1.9 August 3.0 1.9 1.9 September 3.1 1.9 2.0 October 2.8 1.8 November 3.2 2.0 December 2.3 1.2
September Year-to-date September Prev Mo 2016 Year-to-date
© Copyright RMLS™ 2016. All Rights Reserved.
AREA REPORT • 9/2016
Portland Metropolitan Area, Oregon Avg. Sale Price % Change2
-10.9%
963
380,100
365,000
14.3%
14
639,000
22
237,200
24
577,900
NE Portland
394
344
80
252
-4.5%
249
437,200
22
2,965
2,309
-4.7%
2,134
416,600
375,000
10.3%
25
598,800
29
325,900
65
555,800
SE Portland
570
456
127
336
-7.9%
309
368,200
28
4,019
3,139
-2.4%
2,909
362,800
320,000
11.2%
23
406,300
72
195,200
135
559,900
Gresham/ Troutdale
381
267
66
200
-0.5%
206
296,900
26
2,314
1,910
3.6%
1,751
293,700
280,000
12.6%
14
428,200
38
181,700
53
359,500
Milwaukie/ Clackamas
472
255
67
212
-19.1%
240
395,100
38
2,838
2,224
-1.2%
2,067
373,400
349,900
11.1%
9
520,300
116
175,500
18
441,600
Oregon City/ Canby
370
201
51
169
8.3%
137
364,100
39
1,928
1,550
8.1%
1,366
364,200
338,800
11.6%
8
256,300
88
208,800
20
413,000
Lake Oswego/ West Linn
412
191
81
159
5.3%
128
619,800
53
1,987
1,374
-7.8%
1,259
616,300
527,500
14.2%
2
340,000
46
449,700
10
585,300
W Portland
683
398
142
256
-17.7%
282
505,100
40
3,625
2,554
-10.8%
2,378
552,600
470,000
10.3%
5
723,000
53
285,900
33
668,600
NW Wash Co.
258
159
38
128
-2.3%
129
473,300
39
1,657
1,277
3.3%
1,197
482,100
471,000
7.8%
6
104,300
21
961,000
1
425,000
Beaverton/ Aloha
352
309
63
246
-9.2%
278
335,100
24
3,080
2,541
-11.1%
2,417
332,600
315,000
9.9%
10
446,300
27
201,800
21
428,800
Tigard/ Wilsonville
467
323
66
272
9.7%
289
400,700
42
3,289
2,589
8.2%
2,316
404,200
380,000
10.6%
6
310,300
50
440,500
10
312,000
Hillsboro/ Forest Grove
341
256
49
221
8.3%
222
345,300
28
2,283
1,861
-8.2%
1,701
332,700
308,000
14.1%
9
272,600
46
397,200
37
349,100
78
34
6
32
18.5%
27
273,700
73
240
178
14.8%
151
251,900
239,000
6.7%
23
89,500
Columbia Co.
201
84
29
98
11.4%
89
256,600
62
998
799
8.7%
706
255,300
238,000
11.2%
18
232,300
64
92,100
16
242,300
Yamhill Co.
451
237
41
162
1.3%
127
295,500
49
1,835
1,438
-1.7%
1,285
290,300
265,000
9.8%
16
602,700
102
211,200
39
271,800
142 143 148 149 153 155 156 1
Mt. Hood
-
-
Closed Sales
1,051
Closed Sales
1,358
Closed Sales
24
144
Median Sale Price
Average Sale Price
Pending Sales
381,400
Closed Sales
New Listings
111
145
Pending Sales 2016 v. 20151
3
-13.6%
146
Total Market Time
114
147
Average Sale Price
21
Closed Sales
New Listings 159
Pending Sales
Active Listings 184
141
N Portland
150
Average Sale Price
Year-To-Date
Average Sale Price
MULTIFAMILY
Year-To-Date
151
Pending Sales 2016 v. 20151
LAND
Year-To-Date
152
Expired.Canceled Listings
COMMERCIAL Year-To-Date
Average Sale Price
RESIDENTIAL Current Month
-
-
Percent change in number of pending sales this year compared to last year. The Current Month section compares September 2016 with September 2015. The Year-To-Date section compares 2016 year-to-date statistics through September with 2015 year-to-date statistics through September.
2
% Change is based on a comparison of the rolling average sale price for the last 12 months (10/1/15-9/30/16) with 12 months before (10/1/14-9/30/15).
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 4,003 4,762 5,360 5,645 5,614
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 6,279 6,917 7,220 7,132
NEW LISTINGS
New Listings
PORTLAND, OR
This graph shows the
5,000 4,500
new residential listings
4,000 3,500
over the past three
3,000
calendar years in the
2,500 2,000
greater Portland, Oregon
1,500
metropolitan area.
1,000
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
2,500
greater Portland, Oregon metropolitan area.
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
Jun-16
Sep-16
Mar-16
Dec-15
Sep-15
Jun-15
Mar-15
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
Dec-14
Jun-14
Sep-14
Mar-14
Dec-13
Sep-13
Jun-13
Mar-13
Dec-12
Jun-12
Sep-12
Mar-12
Dec-11
Sep-11
Jun-11
Mar-11
Dec-10
Sep-10
Jun-10
Mar-10
Dec-09
Sep-09
Jun-09
Mar-09
Dec-08
$175,000
Sep-08
$225,000
Oregon, metropolitan SEPT OCT
NOV
DEC
JAN
FEB
Clark County
MAR
APR
MAY
JUN
JUL
Metro Portland, OR
5
© Copyright RMLS™ 2016. All Rights Reserved.
AUG
SEP
area and Clark County.
MEDIAN SALE PRICE September 2016
SW WASHINGTON
$285,000
$285,000
Woodland
N/NE Clark County
PORTLAND
$283,000 $387,000
Battle Ground
Ridgefield/La Center
METRO
$ 243,500 Columbia County $375,000 Salmon Creek $294,000 Felida
$ 487,200 North Washington County Sauvie Island
Brush Prairie Hockinson
$280,000 Hazel Dell Minnehaha
$250,000 5 Corners Orch.
$230,100 Cent. Vancouver
$ 320,300 Beaverton
$ 450,000 West Portland
Aloha
$ 395,000 Tigard/Tualatin Sherwood Wilsonville
$377,500 Camas/Washougal $ 388,000 NE Portland $ 325,000 SE Portland $ 359,000
$ 511,500
Milwaukie/Gladstone/ Boring/Clackamas Estacada
Lake Oswego West Linn
$ 275,000 $ 359,000 Oregon City Canby Molalla Beavercreek
Yamhill County
6
$276,600 Cascade Park
$261,600 Heights
$ 374,500 N Portland
$ 320,000 Hillsboro Forest Grove
$354,900
© Copyright RMLS™ 2016. All Rights Reserved.
$ 291,000 Gresham Troutdale Sandy Corbett Fairview
$ 245,000 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 communications@rmls.com
This graph shows the number of active and closed condos in the Portland, Oregon, metropolitan area.
Active & Closed Condos 500 450
400 350 300 250
The statistics presented in Market Action are compiled monthly based on figures generated by RMLS™.
200 150 100 50 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. 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™.
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
$275,000 $250,000
$225,000 $200,000 $175,000 $150,000 $125,000
2014
2015
2016
Craig Fahner, Chairman of the Board Kurt von Wasmuth, President/CEO Tyler Chaudhary, Editor © Copyright RMLS™ 2016. All Rights Reserved.