A Publication of RMLS™, The Source for Real Estate Statistics in Your Community Residential Review: Metro Portland, Oregon August Residential Highlights The Portland metro area saw slightly cooler real estate activity in August, but all measures remain strong. Pending sales (3,347) ended 23.8% stronger than the 2,704 offers accepted in August 2014, although 4.2% lower than the 3,494 offers accepted last month in July 2015. The last August there were more pending sales in August for the Portland metro area was in 2005, when there were 3,771 offers accepted for the month. Cl o se d sa le s ( 3 , 0 9 8 ) f a r e d similarly, 19.8% above the 2,586 closings posted in August 2014 but 10.3% under the 3,452 closings posted in July 2015. New listings, at 3,880, were 8.3% stronger than the 3,581 new listings offered last August but 9.2% lower than the 4,273 new listings posted last month in July 2015.
2015
Portland Metro Residential Highlights
2014
Year to Date Summary Activity has been higher in 2015 than in 2014 across the board. Pending sales (24,784) are up 24.4%, closed sales (22,026) are up 21.8%, and new listings (30,314) are up 8.5% for the year thus far. Average and Median Sale Prices Prices continue to rise in 2015 compared to 2014. Comparing each year through August, the average sale price rose 6.2% from $332,600 to $353,200. In the same comparison, the median sale price rose 7.0% from $285,000 to $305,000.
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 October 3.4 2.8 November 3.7 3.2 December 3.2 2.3 *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: +6.4% ($347,300 v. $326,300) Median Sale Price % Change: +7.1% ($300,000 v. $280,000)
For further explanation of this measure, see the second footnote on page 2.
New Listings
Pending Sales
Closed Sales
Average Sale Price
Median Sale Price
Total Market Time
August
3,880
3,347
3,098
364,600
316,500
41
July
4,273
3,494
3,452
369,100
318,000
45
30,314
24,784
22,026
353,200
305,000
57
3,581
2,704
2,586
340,000
295,900
63
27,946
19,918
18,083
332,600
285,000
72
8.3%
23.8%
19.8%
7.2%
7.0%
-34.4%
Prev Mo 2015
-9.2%
-4.2%
-10.3%
-1.2%
-0.5%
-8.9%
Year-to-date
8.5%
24.4%
21.8%
6.2%
7.0%
-21.3%
Year-to-date
Change
Inventory rose slightly in August to 1.9 months. Total market time decreased slightly, to 41 days. There are currently a total of 5,837 active residential listings in the Portland metro area.
August 2015 Reporting Period
August Year-to-date August
© Copyright RMLS™ 2015. All Rights Reserved.
AREA REPORT • 8/2015
Portland Metropolitan Area, Oregon RESIDENTIAL
LAND
MULTIFAMILY
Year-To-Date
Year-To-Date
Year-To-Date
Pending Sales
Pending Sales 2015 v. 2014
Average Sale Price
Median Sale Price
Avg. Sale Price % Change
29
1,215
1,049
12.7%
955
334,400
318,000
12.7%
9
487,800
21
246,400
21
419,500
NE Portland
348
336
58
265
-7.0%
260
395,900
24
2,545
2,166
15.5%
2,020
378,100
330,000
7.9%
22
553,900
25
234,400
63
461,100
SE Portland
496
439
78
400
23.1%
367
321,500
25
3,388
2,876
21.1%
2,544
325,600
280,000
8.9%
20
604,200
57
238,800
134
455,600
144
Gresham/ Troutdale
443
268
50
236
28.3%
189
270,200
53
2,031
1,663
33.8%
1,432
257,200
243,700
6.0%
9
866,600
32
190,800
34
278,300
145
Milwaukie/ Clackamas
558
351
70
265
7.7%
253
352,100
41
2,607
2,003
23.6%
1,757
336,400
312,100
9.5%
10
463,500
97
141,000
16
296,500
146
Oregon City/ Canby
403
212
33
170
3.0%
169
330,600
40
1,622
1,295
17.3%
1,133
318,300
290,000
7.4%
12
437,200
81
262,100
12
237,700
147
Lake Oswego/ West Linn
454
228
80
181
22.3%
181
574,800
59
1,879
1,349
23.5%
1,205
535,800
465,000
4.8%
1
333,000
42
501,900
8
2,894,500
W Portland
584
356
94
313
13.4%
335
517,600
48
3,264
2,568
20.3%
2,374
495,700
424,900
5.6%
16
445,000
58
261,200
26
676,900
NW Wash Co.
224
186
28
179
73.8%
115
454,600
34
1,346
1,118
12.5%
954
445,300
420,000
6.4%
2
475,000
37
326,900
2
318,100
150
Beaverton/ Aloha
391
370
51
361
44.4%
289
309,600
25
2,969
2,598
41.7%
2,294
297,700
278,000
7.5%
8
367,400
12
273,400
23
350,100
151
Tigard/ Wilsonville
512
341
58
268
21.3%
262
377,600
36
2,620
2,161
24.9%
1,944
362,500
340,000
9.7%
3
625,000
25
652,100
11
373,800
152
Hillsboro/ Forest Grove
371
301
55
263
45.3%
257
303,400
30
2,175
1,844
33.8%
1,591
289,800
265,000
7.5%
11
426,400
46
221,300
32
258,700
Mt. Hood
104
30
10
31
47.6%
21
191,400
94
226
132
-1.5%
113
228,000
216,500
-7.0%
-
20
94,300
Columbia Co.
283
104
29
76
33.3%
96
216,700
98
812
654
33.5%
585
224,700
224,000
6.7%
10
266,500
61
99,100
7
192,000
Yamhill Co.
499
195
41
197
60.2%
184
276,000
88
1,615
1,308
33.3%
1,125
263,000
236,500
4.5%
15
319,100
65
164,500
37
264,400
141 142 143 148 149 153 155 156
-
Average Sale Price
Closed Sales
Average Sale Price
Closed Sales
Average Sale Price
Closed Sales
Closed Sales
Total Market Time
2
New Listings
341,800
3
120
Average Sale Price
19.3%
Closed Sales
142
Pending Sales
15
Expired.Canceled Listings
163
New Listings
167
Active Listings N Portland
1
Pending Sales 2015 v. 2014
COMMERCIAL
1
Year-To-Date
1
Current Month
-
-
Percent change in number of pending sales this year compared to last year. The Current Month section compares August 2015 with August 2014. The YearTo-Date section compares 2015 year-to-date statistics through August with 2014 year-to-date statistics through August.
2
% Change is based on a comparison of the rolling average sale price for the last 12 months (9/1/14-8/31/15) with 12 months before (9/1/13-8/31/14).
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
the greater Portland,
4,000
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
TOTAL ACTIVE LISTINGS PORTLAND, OR
Total Active Listings 13,000 12,000
This graph shows the
11,000
total active listings over
10,000
the past three calendar
9,000
years in the greater
8,000
Portland, Oregon
7,000
metropolitan area.
6,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2013 8,519 8,435 8,385 8,673 9,002 9,564 10,138 10,293 10,223 9,573 8,884 7,511 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
NEW LISTINGS
New Listings
PORTLAND, OR
This graph shows the
4,500 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
Aug-15
Feb-15
May-15
Nov-14
Aug-14
May-14
Feb-14
Nov-13
Aug-13
Feb-13
May-13
Nov-12
Aug-12
Feb-12
May-12
Nov-11
Aug-11
May-11
Feb-11
Nov-10
Aug-10
Feb-10
May-10
Nov-09
Aug-09
Feb-09
May-09
Nov-08
Aug-08
Feb-08
May-08
Nov-07
Aug-07
May-07
Feb-07
$175,000
Nov-06
$225,000
Median Sale Price
Median Sale Price: Portland, OR & Clark Co., WA
MEDIAN SALE PRICE 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 AUG SEPT OCT
NOV
DEC
JAN
Clark County
FEB
MAR
APR
MAY JUNE JULY AUG
Metro Portland, OR
5
© Copyright RMLS™ 2015. All Rights Reserved.
area and Clark County.
MEDIAN SALE PRICE August 2015
SW WASHINGTON
$291,000
$215,000
Woodland
N/NE Clark County
$263,200
PORTLAND
$355,000
Battle Ground
Ridgefield/La Center
METRO
$ 207,500 Columbia County $300,000 Salmon Creek $329,000 Felida
$ 435,000 North Washington County Sauvie Island
Brush Prairie Hockinson
$255,000 Hazel Dell Minnehaha
$224,000 5 Corners Orch.
$217,000 Cent. Vancouver
$ 285,000 Beaverton
$ 449,000 West Portland
Aloha
$ 365,000 Tigard/Tualatin Sherwood Wilsonville
$372,500 Camas/Washougal $ 341,000 NE Portland $ 282,500 SE Portland $ 324,900
$ 480,000
Milwaukie/Gladstone/ Boring/Clackamas Estacada
Lake Oswego West Linn
$ 243,400 $ 313,800 Oregon City Canby Molalla Beavercreek
Yamhill County
6
$249,900 Cascade Park
$211,500 Heights
$ 326,500 N Portland
$ 275,000 Hillsboro Forest Grove
$339,000
© Copyright RMLS™ 2015. All Rights Reserved.
$ 255,000 Gresham Troutdale Sandy Corbett Fairview
$ 194,500 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 700 600 500 400
300
The statistics presented in Market Action are compiled monthly based on figures generated by RMLS™.
200 100 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
$225,000 $200,000 $175,000 $150,000 $125,000
$100,000
2013
2014
2015
Randy Hunzeker, Chairman of the Board Kurt von Wasmuth, President/CEO Heather Andrews, Editor © Copyright RMLS™ 2015. All Rights Reserved.