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 cooler activity on the whole. Closed sales (2,621) ended 3.3% under the 2,710 closings posted last year in December 2015 despite a 7.7% increase compared to the 2,434 closings recorded last month in November 2016.
December 2016 Reporting Period
Inventory decreased slightly in December, landing at 1.3 months. During the same time, total market time increased by four days, ending at 49 days. There were 3,511 active residential listings in the region in December.
Year to Date Summary Activity was cooler in 2016 than in 2015. Comparing all of 2016 to 2015, new listings (41,121) increased 0.7. Closed sales (32,798) decreased 1.5% and pending sales (33,234) decreased 3.9%.
New listings, at 1,421, fell 7.6% short of the 1,538 new listings offered last year in December 2015 and 31.7% under the 2,080 new listings offered last month in November 2016. Average and Median Sale Prices Pending sales (1,757) decreased Comparing 2016 to 2015 through 9.2% from December 2015, when December, the average sale price 1,936 offers were accepted; and rose 11.4% from $354,500 to 22.5% from November 2016, when $395,000. In the same comparison, 2,266 offers were accepted. the median sale price rose 12.7% from $308,000 to $347,000.
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 2.0 November 3.2 2.0 1.8 December 2.3 1.2 1.3 *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: +11.5% ($395,000 v. $354,300) Median Sale Price % Change: +12.7% ($347,000 v. $307,800)
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
December
1,421
1,757
2,621
399,300
349,900
49
November
2,080
2,266
2,434
397,000
351,700
45
41,121
33,234
32,798
395,000
347,000
42
1,538
1,936
2,710
367,600
320,000
56
40,815
34,568
33,307
354,500
308,000
54
-7.6%
-9.2%
-3.3%
8.6%
9.3%
-12.3%
-31.7%
-22.5%
7.7%
0.6%
-0.5%
8.9%
0.7%
-3.9%
-1.5%
11.4%
12.7%
-23.6%
Year-to-date
Change
New Listings
December Year-to-date December Prev Mo 2016 Year-to-date
© Copyright RMLS™ 2017. All Rights Reserved.
AREA REPORT • 12/2016
Portland Metropolitan Area, Oregon RESIDENTIAL
COMMERCIAL
LAND
MULTIFAMILY
Year-To-Date
Year-To-Date
Year-To-Date
366,000
13.6%
17
659,200
27
269,300
34
614,700
NE Portland
242
137
74
178
4.1%
241
418,000
39
3,608
2,919
-4.4%
2,868
418,000
375,000
10.8%
32
613,900
43
308,200
87
577,600
SE Portland
327
135
92
206
-7.2%
339
367,100
38
4,825
3,930
-4.2%
3,903
364,600
320,000
10.5%
34
430,100
96
194,800
162
608,800
144
Gresham/ Troutdale
218
78
58
113
-23.1%
196
307,500
38
2,720
2,339
-1.6%
2,355
297,100
283,500
13.0%
18
404,100
68
203,100
70
355,700
145
Milwaukie/ Clackamas
300
130
89
155
-10.9%
196
372,800
60
3,381
2,725
-4.6%
2,699
376,500
350,000
12.1%
14
487,900
141
178,600
25
459,400
146
Oregon City/ Canby
218
76
36
82
-26.1%
129
386,200
57
2,216
1,882
4.3%
1,841
366,400
340,000
12.8%
12
272,200
103
224,500
25
426,100
147
Lake Oswego/ West Linn
266
68
74
77
-21.4%
111
607,100
69
2,306
1,653
-9.5%
1,653
614,000
525,000
13.4%
3
446,700
51
462,000
11
588,500
W Portland
414
129
109
168
-11.1%
212
598,200
55
4,340
3,187
-10.0%
3,135
563,400
470,000
13.9%
9
665,700
77
273,600
40
678,100
NW Wash Co.
158
68
46
85
-4.5%
127
521,200
51
2,015
1,623
4.2%
1,613
487,900
475,000
10.2%
6
104,300
27
798,100
5
680,100
150
Beaverton/ Aloha
191
115
69
146
-25.5%
225
338,300
47
3,642
3,123
-12.0%
3,142
331,900
315,000
11.6%
14
477,400
39
207,500
31
488,900
Tigard/ Wilsonville
309
131
85
172
14.7%
272
403,800
50
3,918
3,191
8.4%
3,106
404,200
381,000
9.2%
6
310,300
63
410,700
19
348,500
Hillsboro/ Forest Grove
227
131
46
146
-2.0%
231
336,200
47
2,821
2,375
-6.2%
2,338
335,100
310,000
14.1%
12
246,900
59
415,800
46
355,500
48
11
10
10
-23.1%
18
240,700
54
285
226
10.8%
212
257,300
244,000
7.3%
34
90,800
Columbia Co.
118
36
29
59
20.4%
76
271,600
59
1,156
972
4.0%
937
253,900
240,000
12.1%
20
244,100
97
100,800
18
244,500
Yamhill Co.
354
101
56
89
-21.9%
138
337,100
64
2,228
1,772
-2.8%
1,709
298,400
269,900
11.9%
24
565,400
127
227,700
43
336,900
141 142 143 148 149 153 155 156 1
Mt. Hood
-
Total Market Time
Closed Sales -
Average Sale Price
380,600
Closed Sales
1,287
Average Sale Price
-9.9%
Average Sale Price
1,317
Closed Sales
Closed Sales
1,660
Avg. Sale Price % Change2
Pending Sales 2016 v. 20151
40
Median Sale Price
Pending Sales
388,100
Average Sale Price
New Listings
110
3
Closed Sales
10.9%
Average Sale Price
Pending Sales 2016 v. 20151
71
Pending Sales
33
Expired.Canceled Listings
75
New Listings
121
Active Listings 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 December 2016 with December 2015. The Year-To-Date section compares 2016 year-to-date statistics through December with 2015 year-to-date statistics through December.
2
% Change is based on a comparison of the rolling average sale price for the last 12 months (1/1/16-12/31/16) with 12 months before (1/1/15-12/31/15).
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
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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 5,169 4,354 3,511
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 6,647 5,767 4,731
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 1,000
metropolitan area.
2014
2015
2016
3
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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
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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-16
Sep-16
Jun-16
Mar-16
Dec-15
Sep-15
Jun-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
Mar-15
Dec-14
Sep-14
Jun-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
Jun-10
Sep-10
Mar-10
Dec-09
Sep-09
Jun-09
Mar-09
$175,000
Dec-08
$225,000
Oregon, metropolitan DEC
JAN
FEB
MAR
APR
MAY
Clark County
JUN
JUL
AUG
SEP
OCT
Metro Portland, OR
5
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NOV
DEC
area and Clark County.
MEDIAN SALE PRICE December 2016
SW WASHINGTON
$303,600
$318,000
Woodland
N/NE Clark County
PORTLAND
$291,500 $331,800
Battle Ground
Ridgefield/La Center
METRO
$ 258,000 Columbia County $363,000 Salmon Creek $325,000 Felida
$ 500,000 North Washington County Sauvie Island
Brush Prairie Hockinson
$300,000 Hazel Dell Minnehaha
$265,000 5 Corners Orch.
$263,000 Cent. Vancouver
$ 325,100 Beaverton
$ 454,500 West Portland
Aloha
$ 387,000 Tigard/Tualatin Sherwood Wilsonville
$372,000 Camas/Washougal $ 381,000 NE Portland $ 315,000 SE Portland $ 344,000
$ 505,000
Milwaukie/Gladstone/ Boring/Clackamas Estacada
Lake Oswego West Linn
$ 285,000 $ 357,000 Oregon City Canby Molalla Beavercreek
Yamhill County
6
$264,000 Cascade Park
$277,500 Heights
$ 377,500 N Portland
$ 320,000 Hillsboro Forest Grove
$332,300
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$ 300,000 Gresham Troutdale Sandy Corbett Fairview
$ 255,500 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 500
450 400 350
300 250
200
The statistics presented in Market Action are compiled monthly based on figures generated by RMLS™.
150 100
50 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
20 18 16 14 12 10 8 6 4
Portland OR Metro
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™.
Clark Co WA
Lane Co OR
Jeff Wiren, Chairman of the Board Kurt von Wasmuth, President/CEO Tyler Chaudhary, Editor © Copyright RMLS™ 2017. All Rights Reserved.
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RMLS™ was formed by area Boards and Associations of REALTORS® in 1991.