A Publication of RMLS™, The Source for Real Estate Statistics in Your Community Residential Review: Metro Portland, Oregon June Residential Highlights The Portland metro area saw some cooler activity this June, but closed sales saw a gain over last month. At 2,946, closed sales slipped 7.6% below the 3,187 closings recorded last year in June 2017, but outpaced May 2018 (2,803) by 5.1%. Even so, June closings were last lower in 2014, when 2,617 were recorded for the month.
June 2018 Reporting Period
Inventory rose to 2.1 months in June, with total market time holding steady at 37 days.
Year to Date Summary Activity so far in 2018 is a little mixed compared to 2017. New listings (22,079) are up 2.7%. Pending sales (16,297) are down 1.7% and closed sales (14,546) are down 2.2%.
Average and Median Sale Prices New listings, at 4,515, ended 4.7% Comparing 2018 to 2017 through cooler than in June 2017 (4,739) and June of each year, the average sale 3.2% cooler than last month in May price rose 6.2% from $427,000 to 2018 (4,665). $453,400. In the same comparison, Pending sales fared similarly. the median sale price rose 6.7% There were 3,059 offers accepted, from $375,000 to $400,000. falling 6.0% below the 3,254 offers accepted last year in June 2017 and 4.4% below the 3,201 offers accepted last month in May 2018.
Inventory in Months* 2016 2017 2018 January 1.8 1.7 2.2 February 1.8 1.9 1.9 March 1.3 1.3 1.6 April 1.4 1.7 1.8 May 1.4 1.5 1.9 June 1.5 1.6 2.1 July 1.9 2.1 August 1.9 2.0 September 2.0 2.3 October 2.0 2.1 November 1.8 1.9 December 1.3 1.6 *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: +7.1% ($442,000 v. $412,800) Median Sale Price % Change: +7.9% ($391,000 v. $362,500)
For further explanation of this measure, see the second footnote on page 2.
2018
Portland Metro Residential Highlights
2017
Pending Sales
Closed Sales
Average Sale Price
Median Sale Price
Total Market Time
June
4,515
3,059
2,946
472,400
417,900
37
May
4,665
3,201
2,803
460,700
409,000
37
22,079
16,297
14,546
453,400
400,000
48
4,739
3,254
3,187
440,600
390,000
38
21,505
16,572
14,866
427,000
375,000
48
June
-4.7%
-6.0%
-7.6%
7.2%
7.2%
-4.6%
Prev Mo 2018
-3.2%
-4.4%
5.1%
2.5%
2.2%
0.0%
Year-to-date
2.7%
-1.7%
-2.2%
6.2%
6.7%
-0.1%
Year-to-date
Change
New Listings
June Year-to-date
© Copyright RMLS™ 2018. All Rights Reserved.
AREA REPORT • 6/2018
Portland Metropolitan Area, Oregon
426,600
405,000
6.7%
8
702,700
17
284,500
17
936,000
NE Portland
528
418
93
255
-12.1%
283
490,000
33
1,999
1,409
-1.1%
1,300
482,000
426,500
7.0%
17
533,100
30
469,100
58
644,200
SE Portland
677
556
105
355
-9.7%
299
443,600
27
2,574
1,891
-4.0%
1,714
417,400
373,300
6.7%
14
722,000
46
270,800
69
651,600
Gresham/ Troutdale
376
282
36
196
-8.0%
177
357,900
29
1,368
1,065
4.8%
953
350,900
339,900
10.4%
7
588,800
39
243,100
28
397,400
Milwaukie/ Clackamas
519
377
67
267
4.7%
210
434,100
33
1,819
1,349
1.4%
1,199
425,800
405,000
6.6%
9
478,100
46
261,300
11
426,900
Oregon City/ Canby
310
245
32
182
-1.6%
168
434,100
42
1,213
928
5.5%
797
416,200
393,900
7.1%
5
336,600
41
370,800
12
485,900
Lake Oswego/ West Linn
464
274
68
162
-8.0%
178
685,700
52
1,395
926
6.8%
834
664,400
583,000
8.8%
1
615,000
14
462,400
6
749,600
W Portland
980
546
142
308
-4.6%
318
635,600
57
2,611
1,566
-9.6%
1,402
610,000
519,700
1.7%
5
554,000
23
152,300
16
858,100
NW Wash Co.
269
219
28
155
-4.3%
135
572,200
36
1,111
895
6.4%
784
549,100
529,700
5.2%
17
358,400
2
690,000
Beaverton/ Aloha
351
410
40
281
3.7%
295
400,100
20
1,861
1,493
3.2%
1,311
388,100
379,900
8.8%
5
224,400
6
223,300
9
841,800
Tigard/ Wilsonville
480
388
52
305
-8.7%
303
481,500
33
2,036
1,596
-3.9%
1,387
465,400
435,000
9.1%
1
620,000
18
520,400
8
490,100
Hillsboro/ Forest Grove
268
270
39
215
-3.2%
204
409,900
22
1,370
1,111
-11.0%
970
396,500
370,000
9.1%
15
322,300
37
257,800
20
407,900
71
33
6
14
-22.2%
19
324,100
58
146
96
10.3%
91
325,800
320,000
6.2%
22
138,900
1
536,500
Columbia Co.
178
97
15
82
-15.5%
86
310,300
69
603
479
4.6%
450
304,700
298,300
11.7%
5
197,000
40
219,600
5
246,700
Yamhill Co.
346
223
24
162
-10.0%
148
393,800
53
1,056
818
-9.4%
728
362,300
325,000
10.7%
7
294,100
48
299,600
14
283,100
142 143 148 149 153 155 156 1
Mt. Hood
-
-
-
-
Closed Sales
626
Closed Sales
-4.4%
Closed Sales
675
144
Avg. Sale Price % Change2
917
Closed Sales
32
Pending Sales
430,100
New Listings
123
145
Median Sale Price
Average Sale Price
Pending Sales 2018 v. 20171
3
-11.1%
146
Total Market Time
120
147
Average Sale Price
35
Closed Sales
New Listings 177
Pending Sales
Active Listings 237
141
N Portland
150
Average Sale Price
Year-To-Date
Average Sale Price
MULTIFAMILY
Year-To-Date
151
Pending Sales 2018 v. 20171
LAND
Year-To-Date
152
Expired.Canceled Listings
COMMERCIAL 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 June 2018 with June 2017. The Year-ToDate section compares 2018 year-to-date statistics through June with 2017 year-to-date statistics through June.
2
% Change is based on a comparison of the rolling average sale price for the last 12 months (7/1/17-6/30/18) with 12 months before (7/1/16-6/30/17).
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™ 2018. 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 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 3,771 2018 3,518 3,441 3,844 4,469 5,380 6,054
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 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 5,022 2018 4,774 4,746 5,163 5,827 6,783 7,516
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.
2016
2017
2018
3
© Copyright RMLS™ 2018. 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
2016
2017
2018
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 2014
2,000
2015
1,500
2016
1,000
2017
500
2018
0
DAYS ON MARKET
Average Total Market Time 80
PORTLAND, OR
70
This graph shows the
60
average market time for
50
sales in the Portland,
40
Oregon metropolitan area
30
over the past three calendar
20
years. 2016 TMT
2017 TMT
2018 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 $525,000 $475,000 $425,000 $375,000 $325,000 $275,000
Average Sale Price
Jun-18
Mar-18
Dec-17
Jun-17
Sep-17
Mar-17
Dec-16
Sep-16
Jun-16
Mar-16
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
Jun-12
Sep-12
Mar-12
Dec-11
Sep-11
Jun-11
Mar-11
Dec-10
Jun-10
$175,000
Sep-10
$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
JUN
JUL
AUG
SEP
OCT
NOV
Clark County
DEC
JAN
FEB
MAR
APR
Metro Portland, OR
5
© Copyright RMLS™ 2018. All Rights Reserved.
MAY
JUN
area and Clark County.
MEDIAN SALE PRICE June 2018
SW WASHINGTON
$392,500
$490,000
Woodland
N/NE Clark County
$375,000
PORTLAND
$422,400
Battle Ground
Ridgefield/La Center
METRO
$ 291,500 Columbia County $418,900 Salmon Creek
$399,900 Brush Prairie Hockinson
$345,000 Felida
$339,900 Hazel Dell Minnehaha
$ 558,300 North Washington County Sauvie Island
$ 385,000 Beaverton
$ 544,800 West Portland
Aloha
$ 450,000 Tigard/Tualatin Sherwood Wilsonville $ 356,900
5 Corners Orch.
$304,800 Cent. Vancouver $290,000 Heights
$ 405,000 N Portland
$ 380,000 Hillsboro Forest Grove
$302,500
$450,000 Camas/Washougal $ 432,700 NE Portland $ 407,000 SE Portland $ 417,500
$ 603,400
Milwaukie/Gladstone/ Boring/Clackamas Estacada
Lake Oswego West Linn $ 419,500 Oregon City Canby Molalla Beavercreek
Yamhill County
6
$333,800 Cascade Park
© Copyright RMLS™ 2018. All Rights Reserved.
$ 346,000 Gresham Troutdale Sandy Corbett Fairview
$ 327,500 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 900 800 700 600 500 400
The statistics presented in Market Action are compiled monthly based on figures generated by RMLS™.
300 200 100 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.
$125,000
2016
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™.
2017
2018
Lori Palermo, Chairwoman of the Board Kurt von Wasmuth, President/CEO Tyler Chaudhary, Editor © Copyright RMLS™ 2018. All Rights Reserved.