A Publication of RMLS™, The Source for Real Estate Statistics in Your Community Residential Review: Metro Portland, Oregon December 2020 Reporting Period December Residential Highlights New listings (1,740) increased 37.0% from the 1,270 listed in December 2019, and decreased 22.3% from the 2,238 listed in November 2020.
Year-to-Date Summary Comparing the twelve months of 2020 to the same period in 2019, new listings (38,442) decreased 5.3%, pending sales (32,849) increased 7.9%, and closed sales (32,031) Pending sales (2,003) increased increased 7.8%. 13.0% from the 1,772 offers accepted in December 2019, and decreased Average and Median Sale Prices 21.7% from the 2,557 offers accepted Comparing 2020 to 2019 through in November 2020. December, the average sale price Closed sales (2,789) increased has increased 7.6% from $459,200 to 26.0% from the 2,213 closings in $494,000. In the same comparison, December 2019, and increased 1.6% the median sale price has increased from the 2,745 closings in November 7.3% from $410,000 to $440,000. 2020. Inventory and Total Market Time Inventory decreased to 0.8 months in December, the lowest on RMLS™ record. Total market time decreased to 40 days.
Inventory in Months* 2018 2019 2020 January 2.2 3.3 2.2 February 1.9 2.7 1.9 March 1.6 2.2 1.8 April 1.8 2.2 2.4 May 1.9 2.1 2.3 June 2.1 2.4 1.5 July 2.4 2.3 1.2 August 2.3 2.3 1.3 September 3.1 2.8 1.1 October 2.7 2.4 1.1 November 2.8 2.4 1.0 December 2.5 1.8 0.8 *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: +7.6% ($494,000 v. $459,000) Median Sale Price % Change: +7.3% ($440,000 v. $410,000)
For further explanation of this measure, see the second footnote on page 2.
2020
Portland Metro Residential Highlights
2019
Pending Sales
Closed Sales
Average Sale Price
Median Sale Price
Total Market Time
December
1,740
2,003
2,789
514,000
455,000
40
November
2,238
2,557
2,745
521,200
457,000
41
38,442
32,849
32,031
494,000
440,000
46
1,270
1,772
2,213
457,700
405,000
64
Year-to-date
40,579
30,430
29,700
459,200
410,000
56
December
37.0%
13.0%
26.0%
12.3%
12.3%
-37.0%
Prev Mo 2020
-22.3%
-21.7%
1.6%
-1.4%
-0.4%
-2.4%
Year-to-date
-5.3%
7.9%
7.8%
7.6%
7.3%
-18.7%
Year-to-date
Change
New Listings
December
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AREA REPORT • DECEMBER 2020
Portland Metropolitan Area, Oregon
1,779
1,427
10.9%
1,419
449,300
433,000
5.6%
10
854,900
23
383,400
37
936,500
NE Portland
173
158
72
193
10.9%
254
540,000
36
3,528
2,907
7.0%
2,849
507,900
457,000
6.4%
24
695,200
28
240,900
106
726,500
SE Portland
204
213
61
246
16.0%
317
459,600
34
4,475
3,774
4.6%
3,692
460,100
410,000
9.4%
21
560,500
52
274,300
149
662,100
144
89
120
25
139
-1.4%
181
418,000
28
2,493
2,314
9.6%
2,286
391,600
380,000
5.9%
16
430,500
46
325,300
39
436,800
145
Milwaukie/ Clackamas
211
180
35
193
27.8%
272
512,000
38
3,360
2,945
16.4%
2,797
480,800
452,000
8.9%
9
704,100
84
344,700
25
553,800
146
Oregon City/ Canby
115
114
17
106
11.6%
153
516,000
34
1,947
1,802
3.9%
1,739
471,700
444,500
7.6%
11
868,500
79
329,200
16
446,800
Lake Oswego/ West Linn
114
73
44
110
57.1%
137
845,700
60
2,121
1,686
7.5%
1,637
771,100
650,000
11.4%
1
1,200,000
44
630,200
8
629,300
W Portland
519
181
162
219
37.7%
295
637,600
78
4,572
3,075
5.3%
3,002
630,000
550,000
5.2%
12
894,500
52
240,700
37
816,600
NW Wash Co.
75
75
25
89
-5.3%
117
583,400
39
1,816
1,576
-1.4%
1,564
569,800
529,800
6.9%
4
326,800
46
322,100
12
610,200
Beaverton/ Aloha
79
136
21
155
5.4%
234
425,400
23
3,086
2,863
5.4%
2,804
431,000
419,300
5.9%
5
551,000
12
317,400
28
802,500
Tigard/ Wilsonville
103
135
39
161
23.8%
244
544,000
37
3,162
2,849
7.3%
2,794
517,100
480,300
11.3%
6
544,200
37
518,800
18
818,300
Hillsboro/ Forest Grove
139
134
38
157
-0.6%
228
442,300
31
2,967
2,728
22.4%
2,613
435,400
410,000
5.1%
17
595,000
70
263,500
35
617,500
Mt. Hood
11
11
2
17
6.3%
16
411,000
31
229
211
-5.0%
203
357,700
349,000
12.2%
36
132,600
1
332,000
Columbia Co.
70
62
10
50
8.7%
84
373,700
32
1,050
960
8.8%
914
361,600
349,300
12.5%
10
491,600
104
141,800
10
308,100
Yamhill Co.
81
67
23
84
-11.6%
129
423,500
50
1,857
1,732
4.9%
1,718
430,600
375,700
12.2%
13
1,214,300
107
350,800
23
505,900
156
155
153
149
148
Gresham/ Troutdale
147
Average Sale Price
38
Closed Sales
460,300
Closed Sales
128
Closed Sales
Average Sale Price
Avg. Sale Price % Change2
Closed Sales
0.0%
Median Sale Price
Pending Sales
Pending Sales 2020 v. 20191
New Listings
Total Market Time 3
84
Closed Sales
39
Pending Sales
81
New Listings
109
150
Average Sale Price
Year-To-Date
151
Average Sale Price
Pending Sales 2020 v. 20191
Expired.Canceled Listings
MULTIFAMILY
Year-To-Date
N Portland
Active Listings 141 142
LAND
Year-To-Date
152
143
COMMERCIAL Year-To-Date
Average Sale Price
RESIDENTIAL Current Month
-
-
1
Percent change in number of pending sales this year compared to last year. The Current Month section compares December 2020 with December 2019. The Year-To-Date section compares 2020 year-to-date statistics through December with 2019 year-to-date statistics through December.
2
% Change is based on a comparison of the rolling average sale price for the last 12 months (1/1/2020-12/31/2020) with 12 months before (1/1/201912/31/2019).
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
2
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ACTIVE RESIDENTIAL LISTINGS
Active Residential Listings 8,000 7,000
PORTLAND, OR
6,000
This graph shows the active
5,000
residential listings over the
4,000
past three calendar years in
3,000 2,000
the greater Portland,
1,000
Oregon metropolitan area.
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2018 3,518 3,441 3,844 4,469 5,380 6,054 6,549 6,929 7,082 6,550 5,897 4,665 2019 4,760 4,579 4,808 5,400 6,182 6,735 6,797 6,740 6,620 6,117 5,153 3,904 2020 3,715 3,580 4,218 4,757 4,551 4,109 4,133 3,995 3,727 3,485 2,762 2,092
TOTAL ACTIVE LISTINGS PORTLAND, OR
Total Active Listings 9,500 8,500
This graph shows the
7,500
total active listings over
6,500
the past three calendar
5,500
years in the greater
4,500
Portland, Oregon
3,500
metropolitan area.
2,500
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2018 4,774 4,746 5,163 5,827 6,783 7,516 8,076 8,524 8,640 8,152 7,483 6,034 2019 6,210 6,059 6,289 6,929 7,830 8,366 8,439 8,368 8,237 7,680 6,695 5,270 2020 5,111 4,985 5,659 6,210 5,992 5,476 5,431 5,326 5,014 4,731 3,974 3,104
NEW LISTINGS
New Listings
PORTLAND, OR
This graph shows the
5,500 5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000
new residential listings over the past three calendar years in the greater Portland, Oregon metropolitan area.
2018
2019
2020
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
2018
2019
2020
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 2016
2,000
2017
1,500
2018
1,000
2019
500
2020
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. 2018 TMT
2019 TMT
2020 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 $575,000 $525,000
$475,000 $425,000 $375,000 $325,000
$275,000
Average Sale Price
Dec-20
Sep-20
Jun-20
Mar-20
Dec-19
Sep-19
Jun-19
Mar-19
Dec-18
Sep-18
Jun-18
Mar-18
Dec-17
Sep-17
Jun-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
$175,000
Dec-12
$225,000
Median Sale Price
Median Sale Price: Portland, OR & Clark Co., WA
MEDIAN SALE PRICE PORTLAND, OR
$500,000 $450,000 $400,000
This graph shows the
$350,000
median sale price over
$300,000
the past 12 months in
$250,000 $200,000
the greater Portland,
$150,000
Oregon, metropolitan
$100,000
NOV DEC JAN FEB MAR APR MAY JUN Clark County
JUL AUG SEP OCT NOV DEC
Metro Portland, OR
5
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area and Clark County.
MEDIAN SALE PRICE December 2020
SW WASHINGTON
$396,000
$415,500
Woodland
N/NE Clark County
$439,000
PORTLAND
$429,800
Battle Ground
Ridgefield/La Center
METRO
$ 362,500 Columbia County $448,900 Salmon Creek
$465,000 Brush Prairie Hockinson
$455,000 Felida
$370,000 Hazel Dell Minnehaha
$ 536,000 North Washington County Sauvie Island
$ 417,300 Hillsboro $ 425,000 Beaverton Aloha
$ 502,500 Tigard/Tualatin Sherwood Wilsonville $ 390,000
5 Corners Orch.
$349,100 Cent. Vancouver $390,000 Heights
$ 436,300 N Portland
Forest Grove
$376,000
$ 547,000 West Portland
$507,600 Camas/Washougal $ 478,500 NE Portland $ 415,000 SE Portland $ 492,500
$ 717,000
Milwaukie/Gladstone/ Boring/Clackamas Estacada
Lake Oswego West Linn $ 455,000 Oregon City Canby Molalla Beavercreek
Yamhill County
6
$385,000 Cascade Park
© Copyright RMLS™ 2021. All Rights Reserved.
$ 397,500 Gresham Troutdale Sandy Corbett Fairview
$ 442,500 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™ 16101 SW 72nd Ave. Suite 200 Portland, OR 97224 (503) 236-7657
communications@rmls.com
Active & Closed Condos 1000 900 800 700 600 500 300 200 100 0
Active Listings
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™.
Lane County, OR, Clark County, WA, and Portland, OR.
RESIDENTIAL
Annual Sales Volume Report 25 20 15 10
Portland OR Metro
Clark Co WA
'20
'19
'18
Lane Co OR
BIL Willis, Chairman of the Board Kurt von Wasmuth, President/CEO Tyler Chaudhary, Co-Editor Jorden Holland, Co-Editor © Copyright RMLS™ 2021. All Rights Reserved.
'17
'16
'15
'14
'12
'11
'10
'09
'08
'07
'06
0
'05
5
'04
RMLS™ was formed by area Boards and Associations of REALTORS® in 1991.
This graph shows annual residential sales volume for
SALE VOLUME
$ 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
'13
The statistics presented in Market Action are compiled monthly based on figures generated by RMLS™.
400
