500 2018

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.

Pending sales (2,003) increased 13.0% from the 1,772 offers accepted in December 2019, and decreased 21.7% from the 2,557 offers accepted in November 2020.

Closed sales (2,789) increased 26.0% from the 2,213 closings in December 2019, and increased 1.6% from the 2,745 closings in November 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.

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) increased 7.8%.

Average and Median Sale Prices

Comparing 2020 to 2019 through December, the average sale price has increased 7.6% from $459,200 to $494,000. In the same comparison, the median sale price has increased 7.3% from $410,000 to $440,000.

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)

Portland Metro Residential Highlights

New Listings Pending Sales Closed Sales

Average Sale Price

For further explanation of this measure, see the second footnote on page 2.

Median Sale Price

Total Market Time

2020

2019

Change December

1,740 2,003 2,789 514,000 455,000 40 November 2,238 2,557 2,745 521,200 457,000 41 Year-to-date 38,442 32,849 32,031 494,000 440,000 46 December 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%