A Publication of RMLS™, The Source for Real Estate Statistics in Your Community Residential Review: Metro Portland, Oregon November Residential Highlights The Portland metro area saw new listings make gains this November compared to November 2016. There were 2,416 new listings offered, a 16.2% increase from the 2,080 new listings offered last year in November 2016, but a 19.0% decrease compared to last month in October 2017 (2,981).
November 2017 Reporting Period
November saw inventory tighten slightly to 1.9 months, with total market time increasing to 51 days.
Year to Date Summary Activity has been cooler so far in 2017 compared to 2016. New listings (39,103) are down 1.2%, closed sales (29,098) are down 3.0%, and pending sales (29,628) are down 6.2%.
Pending sales (2,371) similarly Average and Median Sale Prices increased 4.6% compared to Prices continue to rise in the November 2016, but fell 12.3% Portland metro area. Comparing short of the 2,705 offers accepted last 2017 to 2016 through November, the month in October 2017. average sale price rose 8.7% from Closed sales, at 2,387, fell 1.9% $394,800 to $429,000. In the same short of the 2,434 closings recorded comparison, the median sale price in November 2016 and 6.9% short rose 9.5% from $347,000 to $379,900. of the 2,565 closings recorded in October 2017.
Inventory in Months* 2015 2016 2017 January 3.4 1.8 1.7 February 3.0 1.8 1.9 March 1.9 1.3 1.3 April 1.8 1.4 1.7 May 1.7 1.4 1.5 June 1.6 1.5 1.6 July 1.7 1.9 2.1 August 1.9 1.9 2.0 September 1.9 2.0 2.3 October 1.8 2.0 2.1 November 2.0 1.8 1.9 December 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: +8.3% ($426,400 v. $393,600) Median Sale Price % Change: +8.7% ($375,000 v. $345,000)
For further explanation of this measure, see the second footnote on page 2.
2017
Portland Metro Residential Highlights
2016
Pending Sales
Closed Sales
Average Sale Price
Median Sale Price
Total Market Time
November
2,416
2,371
2,387
425,000
377,000
51
October
2,981
2,705
2,565
438,500
380,000
44
39,103
29,628
29,098
429,000
379,900
44
2,080
2,266
2,434
397,000
351,700
45
Year-to-date
39,590
31,586
29,985
394,800
347,000
41
November
16.2%
4.6%
-1.9%
7.1%
7.2%
11.9%
Prev Mo 2017
-19.0%
-12.3%
-6.9%
-3.1%
-0.8%
15.9%
Year-to-date
-1.2%
-6.2%
-3.0%
8.7%
9.5%
7.5%
Year-to-date
Change
New Listings
November
© Copyright RMLS™ 2017. All Rights Reserved.
AREA REPORT • 11/2017
Portland Metropolitan Area, Oregon RESIDENTIAL
COMMERCIAL
LAND
MULTIFAMILY
Year-To-Date
Year-To-Date
Year-To-Date
390,000
5.8%
4
314,800
24
324,500
19
676,300
NE Portland
345
201
95
219
7.4%
196
439,100
46
3,546
2,597
-5.4%
2,549
453,900
405,000
8.3%
31
706,800
31
308,300
74
773,800
SE Portland
516
337
124
291
-1.0%
294
403,500
39
4,802
3,534
-5.6%
3,440
397,000
349,000
8.3%
46
707,500
79
281,900
144
608,300
144
Gresham/ Troutdale
297
150
58
159
8.9%
182
349,900
49
2,478
1,968
-11.9%
1,904
328,300
315,000
11.1%
18
618,400
82
256,100
46
405,500
145
Milwaukie/ Clackamas
414
202
66
211
27.9%
209
406,000
63
3,215
2,406
-6.6%
2,369
410,300
385,000
9.0%
20
477,800
100
268,000
20
551,100
146
Oregon City/ Canby
242
130
28
112
-13.2%
124
377,800
53
1,924
1,577
-12.5%
1,561
392,600
374,900
7.7%
11
415,400
83
235,200
21
301,400
147
Lake Oswego/ West Linn
376
124
89
111
7.8%
108
708,000
85
2,364
1,518
-4.0%
1,481
673,400
568,000
9.4%
3
640,000
36
470,600
7
674,300
W Portland
611
228
133
204
-4.7%
218
576,100
70
4,242
2,850
-6.2%
2,844
588,700
494,600
4.3%
12
562,400
53
326,300
22
914,100
NW Wash Co.
235
122
53
114
3.6%
130
501,200
46
2,053
1,515
-1.4%
1,491
523,300
497,800
8.4%
3
67,300
43
358,700
7
827,400
150
Beaverton/ Aloha
236
200
68
233
11.0%
211
349,300
32
3,276
2,698
-9.7%
2,619
362,800
348,000
9.6%
9
670,200
20
409,400
32
688,200
Tigard/ Wilsonville
375
218
78
236
10.3%
225
453,000
48
3,627
2,891
-4.6%
2,804
434,900
415,000
6.9%
8
763,400
34
348,900
21
684,700
Hillsboro/ Forest Grove
249
157
37
163
-7.9%
159
364,600
31
2,602
2,173
-2.6%
2,159
372,800
350,000
11.4%
16
426,700
58
316,400
47
454,800
62
20
5
19
35.7%
18
286,700
109
239
185
-14.0%
182
309,400
306,200
18.6%
26
89,000
1
775,000
Columbia Co.
162
70
25
70
25.0%
86
294,800
60
1,103
878
-5.0%
879
282,300
275,000
12.7%
9
488,500
94
155,000
11
225,100
Yamhill Co.
272
113
32
114
-14.9%
116
332,300
58
1,838
1,572
-7.3%
1,607
332,300
300,000
13.1%
14
951,600
104
298,400
41
305,800
142 143 148 149 153 155 156 1
-
Total Market Time
Closed Sales -
Average Sale Price
402,700
Closed Sales
1,209
Average Sale Price
1.7%
Average Sale Price
1,266
Closed Sales
1,794
Avg. Sale Price % Change2
44
Median Sale Price
Pending Sales
401,600
Average Sale Price
New Listings
111
Closed Sales
Closed Sales
19.8%
Mt. Hood
Pending Sales 2017 v. 20161
Pending Sales 2017 v. 20161
115
3
Pending Sales
60
Average Sale Price
New Listings 144
Expired.Canceled Listings
Active Listings 204
141
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 November 2017 with November 2016. The Year-To-Date section compares 2017 year-to-date statistics through November with 2016 year-to-date statistics through November.
2
% Change is based on a comparison of the rolling average sale price for the last 12 months (12/1/16-11/30/17) with 12 months before (12/1/15-11/30/16).
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™ 2017. All Rights Reserved.
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 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 2017 3,214 3,109 3,313 3,753 4,325 5,211 5,785 5,940 5,998 5,415 4,596
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 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 2017 4,386 4,315 4,553 5,006 5,656 6,626 7,239 7,400 7,430 6,855 6,026
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.
2015
2016
2017
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
2015
2016
2017
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 2013
2,000
2014
1,500
2015
1,000
2016
500
2017
0
DAYS ON MARKET
Average Total Market Time 90
PORTLAND, OR
80
This graph shows the
70
average market time for
60 50
sales in the Portland,
40
Oregon metropolitan area
30
over the past three calendar
20
years. 2015 TMT
2016 TMT
2017 TMT
4
© Copyright RMLS™ 2017. 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 $475,000 $425,000 $375,000 $325,000
$275,000
Average Sale Price
Nov-17
Aug-17
May-17
Feb-17
Nov-16
Aug-16
May-16
Feb-16
Nov-15
Aug-15
May-15
Feb-15
Nov-14
Aug-14
Feb-14
May-14
Nov-13
Aug-13
May-13
Feb-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
$175,000
Nov-09
$225,000
Median Sale Price
MEDIAN SALE PRICE
Median Sale Price: Portland, OR & Clark Co., WA
PORTLAND, OR
$450,000 $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
Oregon, metropolitan
$100,000
NOV
DEC
JAN
FEB
MAR
APR
Clark County
MAY
JUN
JUL
AUG
SEP
Metro Portland, OR
5
© Copyright RMLS™ 2017. All Rights Reserved.
OCT
NOV
area and Clark County.
MEDIAN SALE PRICE November 2017
SW WASHINGTON
$330,000
$280,000
Woodland
N/NE Clark County
PORTLAND
$367,500 $370,800
Battle Ground
Ridgefield/La Center
METRO
$ 278,500 Columbia County $437,500 Salmon Creek $323,900 Felida
$ 485,000 North Washington County Sauvie Island
Brush Prairie Hockinson
$290,000 Hazel Dell Minnehaha
$282,200 5 Corners Orch.
$265,000 Cent. Vancouver
$ 344,000 Beaverton
$ 489,500 West Portland
Aloha
$ 425,900 Tigard/Tualatin Sherwood Wilsonville
$377,100 Camas/Washougal $ 399,900 NE Portland $ 360,000 SE Portland $ 387,000
$ 585,300
Milwaukie/Gladstone/ Boring/Clackamas Estacada
Lake Oswego West Linn
$ 306,000 $ 350,000 Oregon City Canby Molalla Beavercreek
Yamhill County
6
$307,500 Cascade Park
$280,000 Heights
$ 392,500 N Portland
$ 350,000 Hillsboro Forest Grove
$435,000
© Copyright RMLS™ 2017. All Rights Reserved.
$ 334,500 Gresham Troutdale Sandy Corbett Fairview
$ 314,500 Mt. Hood: Zigzag Welches Rhododendron Wemme Brightwood Government Camp
MULTIPLE LISTING SERVICE
ACTIVE & CLOSED CONDOS PORTLAND, OR
Contact RMLS™ 8338 NE Alderwood Rd Suite 230 Portland, OR 97220 (503) 236-7657 communications@rmls.com
This graph shows the number of active and closed condos in the Portland, Oregon, metropolitan area.
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
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.
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
$300,000 $275,000 $250,000 $225,000 $200,000 $175,000 $150,000
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™.
$125,000
2015
2016
2017
Jeff Wiren, Chairman of the Board Kurt von Wasmuth, President/CEO Tyler Chaudhary, Editor © Copyright RMLS™ 2017. All Rights Reserved.