End of Year Portland Market Action Presented by The Hough Team #HoughTeam

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 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

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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

© Copyright RMLS™ 2017. 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

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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

© Copyright RMLS™ 2017. All Rights Reserved.

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

© Copyright RMLS™ 2017. All Rights Reserved.

$ 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.

'16

'15

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'05

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0

'03

2

'02

RMLS™ was formed by area Boards and Associations of REALTORS® in 1991.


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