MARKET ACTION for December 2015

Page 1

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.


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