A Publication of RMLS™, The Source for Real Estate Statistics in Your Community Residential Review: Metro Portland, Oregon December Residential Highlights The Portland metro area ended the year with an uptick in closed sales this December. The 2,710 closings surged 21.0% past the 2,239 closings posted in December 2014 and 25.9% past the 2,153 closings posted last month in November 2015. This was the strongest December for closings in the Portland metro area on the RMLS™ record, dating to 1992.
December 2015 Reporting Period
number since at least 1999. During the same period, total market time increased to 56 days. There are currently a total of 3,381 active residential listings in the Portland metro area.
Year to Date Summary Activity across the board was higher in 2015 than in 2014. Pending sales (34,568) rose 22.5%, closed sales (33,307) rose 20.0%, and new Pending sales (1,936) were 16.1% listings (40,815) rose 8.4% for the stronger than in December 2014 year. (1,667) but fell 22.7% from the Average and Median Sale Prices 2,504 offers accepted last month Prices were higher in 2015 in November 2015. New listings compared to 2014. Comparing each (1,538) fell two short (-0.1%) of those year, the average sale price rose offered in December 2014 (1,540) 6.5% from $333,000 to $354,500. In and were 28.4% cooler than the 2,148 the same comparison, the median new listings offered last month in sale price rose 7.9% from $285,500 November 2015. to $308,000. Inventory in the Portland metro area decreased in December to 1.2 months, the lowest inventory
2015
Portland Metro Residential Highlights
2014
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: +6.5% ($354,500 v. $332,800) Median Sale Price % Change: +8.1% ($308,000 v. $285,000)
For further explanation of this measure, see the second footnote on page 2.
Median Sale Price
Total Market Time
December
1,538
1,936
2,710
367,600
320,000
56
November
2,148
2,504
2,153
355,600
315,000
52
40,815
34,568
33,307
354,500
308,000
54
1,540
1,667
2,239
331,600
290,000
76
37,654
28,220
27,752
333,000
285,500
70
-0.1%
16.1%
21.0%
10.9%
10.3%
-26.3%
-28.4%
-22.7%
25.9%
3.4%
1.6%
7.7%
8.4%
22.5%
20.0%
6.5%
7.9%
-22.5%
Year-to-date
Change
New Listings
Inventory in Months* 2013 2014 2015 January 4.7 4.1 3.4 February 4.5 3.9 3.0 March 3.2 3.1 1.9 April 3.1 2.8 1.8 May 2.5 2.8 1.7 June 2.9 2.8 1.6 July 2.8 2.9 1.7 August 3.1 3.0 1.9 September 3.7 3.1 1.9 October 3.4 2.8 1.8 November 3.7 3.2 2.0 December 3.2 2.3 1.2
December Year-to-date December Prev Mo 2015 Year-to-date
© Copyright RMLS™ 2015. All Rights Reserved.
AREA REPORT • 12/2015
Portland Metropolitan Area, Oregon
14.8%
13
483,200
30
228,600
34
433,300
NE Portland
212
159
58
171
1.8%
228
387,800
43
3,523
3,053
11.9%
2,995
376,700
329,900
8.3%
29
446,100
45
242,100
104
466,700
SE Portland
300
204
90
222
12.7%
320
369,200
37
4,777
4,103
18.7%
3,931
330,100
283,000
9.0%
30
576,100
93
206,500
186
464,700
Gresham/ Troutdale
277
105
59
147
34.9%
210
270,800
58
2,791
2,378
34.9%
2,251
263,000
249,000
8.1%
20
631,000
52
209,300
63
277,300
Milwaukie/ Clackamas
321
137
69
174
24.3%
235
334,700
43
3,511
2,855
25.1%
2,717
335,600
313,000
8.2%
13
443,800
147
171,900
22
361,500
Oregon City/ Canby
260
70
54
111
18.1%
134
350,500
65
2,158
1,804
20.3%
1,727
325,200
296,500
8.6%
13
442,000
112
242,800
22
273,600
Lake Oswego/ West Linn
255
86
88
98
21.0%
143
567,300
81
2,463
1,826
21.1%
1,766
541,800
460,000
2.8%
2
721,500
55
494,900
10
2,495,100
W Portland
317
138
83
189
15.2%
266
490,400
58
4,313
3,543
17.6%
3,470
495,100
422,500
5.3%
22
638,300
85
271,200
45
735,200
NW Wash Co.
137
76
31
89
15.6%
135
454,600
49
1,853
1,558
15.8%
1,496
442,700
417,300
5.7%
3
395,000
52
334,600
7
337,100
Beaverton/ Aloha
172
132
59
196
4.8%
255
301,100
33
3,910
3,548
34.0%
3,422
297,300
278,000
7.1%
14
513,900
22
261,100
34
495,700
Tigard/ Wilsonville
305
145
68
150
18.1%
210
411,500
70
3,461
2,945
18.2%
2,861
370,600
347,200
9.6%
5
670,700
47
671,000
20
472,700
Hillsboro/ Forest Grove
195
96
54
149
36.7%
212
304,500
49
2,851
2,531
30.7%
2,395
293,900
269,900
8.2%
17
412,300
65
223,500
51
293,500
72
10
9
13
-13.3%
20
235,300
107
298
204
4.6%
203
240,200
219,000
0.5%
1
285,000
26
85,500
Columbia Co.
174
54
43
49
22.5%
93
225,200
90
1,102
935
34.9%
902
226,600
220,800
7.0%
18
259,400
87
108,800
12
221,900
Yamhill Co.
297
72
63
114
39.0%
143
287,500
114
2,145
1,823
35.6%
1,725
267,100
237,700
5.6%
24
330,800
105
201,500
45
257,800
141 142 143 148 149 153 155 156
Average Sale Price
319,600
Closed Sales
335,000
1
Average Sale Price
1,446
Closed Sales
Average Sale Price
11.3%
Closed Sales
Closed Sales
1,462
Median Sale Price
Pending Sales
Avg. Sale Price % Change2
Pending Sales 2015 v. 20141
New Listings 1,659
144
3
42
Total Market Time
375,600
Mt. Hood
Average Sale Price
106
Closed Sales
-16.9%
145
Pending Sales 2015 v. 20141
64
Pending Sales
25
N Portland
New Listings 54
Active Listings 87
146
Year-To-Date
147
MULTIFAMILY
Year-To-Date
150
LAND
Year-To-Date
151
COMMERCIAL
152
Expired.Canceled Listings
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 December 2015 with December 2014. The Year-To-Date section compares 2015 year-to-date statistics through December with 2014 year-to-date statistics through December.
2
% Change is based on a comparison of the rolling average sale price for the last 12 months (1/1/15-12/31/15) with 12 months before (1/1/14-12/31/14).
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™ 2015. All Rights Reserved.
ACTIVE RESIDENTIAL LISTINGS
Active Residential Listings 10,000 9,000
PORTLAND, OR
8,000
This graph shows the active
7,000
residential listings over the
6,000
past three calendar years in
5,000 4,000
the greater Portland,
3,000
Oregon metropolitan area.
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2013 6,366 6,256 6,207 6,498 6,818 7,348 7,849 8,003 7,903 7,355 6,751 5,707 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
TOTAL ACTIVE LISTINGS PORTLAND, OR
This graph shows the
Total Active Listings 12,500 11,500
10,500
total active listings over
9,500
the past three calendar
8,500
years in the greater
7,500 6,500
Portland, Oregon
5,500
metropolitan area.
4,500
JAN FEB MAR APR MAY JUN JUL AUG SEP 2013 8,519 8,435 8,385 8,673 9,002 9,564 10,138 10,293 10,223 2014 7,606 7,731 7,702 8,066 8,928 9,290 9,829 9,872 9,483 2015 6,764 6,718 6,518 6,622 6,934 7,175 7,549 7,665 7,417
OCT NOV DEC 9,573 8,884 7,511 8,959 8,098 6,839 6,737 5,905 4,785
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.
2013
2014
2015
3
© Copyright RMLS™ 2015. 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
2013
2014
2015
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 2011
2,000
2012
1,500
2013
1,000
2014
500
2015
0
DAYS ON MARKET
Average Total Market Time 140
PORTLAND, OR
120
This graph shows the
100
average market time for
80
sales in the Portland,
60
Oregon metropolitan area
40
over the past three calendar
20
years. 2013 TMT
2014 TMT
2015 TMT
4
© Copyright RMLS™ 2015. 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
Dec-15
Sep-15
Jun-15
Mar-15
Dec-14
Sep-14
Jun-14
Mar-14
Dec-13
Sep-13
Jun-13
Mar-13
Dec-12
Sep-12
Jun-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
Sep-08
Jun-08
Mar-08
$175,000
Dec-07
$225,000
Median Sale Price
MEDIAN SALE PRICE
Median Sale Price: Portland, OR & Clark Co., WA
PORTLAND, OR
$350,000 $300,000
This graph shows the
$250,000
median sale price over
$200,000
the past 12 months in the greater Portland,
$150,000 $100,000
Oregon, metropolitan DEC
JAN
FEB
MAR
APR
MAY JUNE JULY AUG SEPT OCT
Clark County
Metro Portland, OR
5
© Copyright RMLS™ 2015. All Rights Reserved.
NOV
DEC
area and Clark County.
MEDIAN SALE PRICE December 2015
SW WASHINGTON
$260,000
$277,500
Woodland
N/NE Clark County
PORTLAND
$263,500 $362,100
Battle Ground
Ridgefield/La Center
METRO
$ 215,000 Columbia County $292,500 Salmon Creek $296,000 Felida
$ 442,500 North Washington County Sauvie Island
Brush Prairie Hockinson
$249,900 Hazel Dell Minnehaha
$235,500 5 Corners Orch.
$205,000 Cent. Vancouver
$ 279,500 Beaverton
$ 412,800 West Portland
Aloha
$ 362,800 Tigard/Tualatin Sherwood Wilsonville
$380,000 Camas/Washougal $ 328,700 NE Portland $ 321,500 SE Portland $ 317,000
$ 450,000
Milwaukie/Gladstone/ Boring/Clackamas Estacada
Lake Oswego West Linn
$ 238,900 $ 319,500 Oregon City Canby Molalla Beavercreek
Yamhill County
6
$241,900 Cascade Park
$270,000 Heights
$ 367,500 N Portland
$ 284,200 Hillsboro Forest Grove
$342,700
© Copyright RMLS™ 2015. All Rights Reserved.
$ 258,000 Gresham Troutdale Sandy Corbett Fairview
$ 216,300 Mt. Hood: Zigzag Welches Rhododendron Wemme Brightwood Government Camp
MULTIPLE LISTING SERVICE
ACTIVE & CLOSED CONDOS
This graph shows the number of active and closed condos in the Portland, Oregon, metropolitan area.
PORTLAND, OR
Contact RMLS™ 8338 NE Alderwood Rd Suite 230 Portland, OR 97220 (503) 236-7657 communications@rmls.com
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
This graph shows annual residential sales volume for
SALE VOLUME
Lane County, OR, Clark County, WA, and Portland, OR.
RESIDENTIAL
Annual Sales Volume Report $ Billions
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
18 16 14 12 10 8 6
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™.
4
Portland OR Metro
Clark Co WA
Lane Co OR
Craig Fahner, Chairman of the Board Kurt von Wasmuth, President/CEO Heather Andrews, Editor © Copyright RMLS™ 2015. All Rights Reserved.
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RMLS™ was formed by area Boards and Associations of REALTORS® in 1991.