PORTLAND AREA Mid Year Market Report January 1 - June 30 2019 vs. 2020 Portland Metro
Beaverton
Tualatin
NW Portland
Gresham
Tigard
NE Portland
Hillsboro
Wilsonville
SW Portland
Oregon City
West Linn
SE Portland
Lake Oswego
COVID-19 Has Driven More Buyers To View Homes and Make Key Decisions Online
SothebysRealty.com is available in 18 languages. The site’s unique editorial style showcases each home’s character. Millions of viewers immerse themselves in our collection of high-definition video and images. Once a home is showcased on SothebysRealty.com, it is exclusively marketed on more than 100 Sotheby’s International Realty affiliate websites around the world.
SothebysRealty.com attracted 34 million visitors in 2019
The right online marketing strategy is now even more important
Both Our Global and Regional Web Sites Are Attracting More Visitors Than Ever Before
CascadeSothebysRealty.com, our user-friendly search engine optimized site, features over 20,000 properties for sale in Oregon and SW Washington. Buyers can find a broker to work with, review market reports, learn interesting details about communities, and sign up to receive automatic email alerts of new properties as soon as they hit the market.
28%
INCREASED WEB TRAFFIC*
Visitors to CascadeSothebysRealty.com from the following states have increased.*
46% 38% 28% 19% 17%
Washington California Oregon Texas Arizona
Our powerful global network allows us to market properties to and recieve buyer referrals from 23,000 agents working in 1,000 offices around the world
32%
SEARCHES FOR PROPERTIES OVER 5 ACRES*
Searches for farms, ranches and vineyards have significantly increased
*1/1/20 to 6/30/20 compared to same period in 2019
MID YEAR MARKET REPORT
Portland Metro Portland Metro includes: NW Portland, NE Portland, SW Portland, SE Portland, Beaverton, Gresham, Hillsboro, Lake Oswego, Oregon City, Tigard, Tualatin, West Linn, Wilsonville ALL RESIDENTIAL
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
4899
4391
Total Sold Volume
$2,373,545,000
$2,168,324,000
-8.65%
Median Sales Price
$420,500
$435,000
$14,500
Average Days on Market
41
41
RESIDENTIAL WITH ACREAGE
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
42
33
Total Sold Volume
$46,008,000
$35,308,000
-23.26%
Median Sales Price
$925,000
$996,000
$71,000
Average Days on Market
84
61
( > 1 ACRE )
TOWNHOMES & CONDOS
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
140
134
Total Sold Volume
$100,973,000
$102,056,000
Median Sales Price
$569,737
$608,750
Average Days on Market
57
52
COMPARISON
-508
-
COMPARISON
-9
-23
COMPARISON
-6 1.07% $39,013 -5
*From RMLS data JANUARY 1 2019 - JUNE 30 2019 vs JANUARY 1 2020 – JUNE 30 2020 Cascade Sotheby’s International Realty is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information provided is “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.
MID YEAR MARKET REPORT
NW Portland County: Multnomah
ALL RESIDENTIAL
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
546
469
Total Sold Volume
$298,329,000
$263,516,000
Median Sales Price
$549,500
$527,000
Average Days on Market
46
37
RESIDENTIAL WITH ACREAGE
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
7
13
Total Sold Volume
$5,910,000
$12,974,000
119.53%
Median Sales Price
$850,000
$820,000
-$30,000
Average Days on Market
45
82
( > 1 ACRE )
COMPARISON
-77 -11.67% -$22,500 -9
COMPARISON
6
37
TOWNHOMES & CONDOS
2019 JANUARY – JUNE
2020 JANUARY – JUNE
COMPARISON
Total Units Sold
2
1
Total Sold Volume
$1,225,000
$520,000
-57.55%
Median Sales Price
$612,500
$520,000
-$92,500
Average Days on Market
8
17
-1
9
*From RMLS data JANUARY 1 2019 - JUNE 30 2019 vs JANUARY 1 2020 – JUNE 30 2020 Cascade Sotheby’s International Realty is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information provided is “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.
MID YEAR MARKET REPORT
NE Portland
County: Multnomah
ALL RESIDENTIAL
2019 JANUARY – JUNE
2020 JANUARY – JUNE
COMPARISON
Total Units Sold
1246
1099
Total Sold Volume
$593,437,000
$529,286,000
-10.81%
Median Sales Price
$428,000
$431,375
$3,375
Average Days on Market
37
37
TOWNHOMES & CONDOS
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
31
35
Total Sold Volume
$21,935,000
$760,499,000
Median Sales Price
$707,575
$725,000
Average Days on Market
65
39
-147
-
COMPARISON
4 3367.06% $17,425 -26
*From RMLS data JANUARY 1 2019 - JUNE 30 2019 vs JANUARY 1 2020 – JUNE 30 2020 Cascade Sotheby’s International Realty is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information provided is “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.
MID YEAR MARKET REPORT
SW Portland County: Multnomah
ALL RESIDENTIAL
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
1348
1184
Total Sold Volume
$807,051,000
$715,803,000
-11.31%
Median Sales Price
$525,000
$540,000
$15,000
Average Days on Market
52
53
RESIDENTIAL WITH ACREAGE
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
35
28
Total Sold Volume
$42,530,000
$32,322,000
Median Sales Price
$1,080,000
$1,020,000
Average Days on Market
85
62
TOWNHOMES & CONDOS
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
15
18
Total Sold Volume
$9,706,000
$13,896,000
Median Sales Price
$595,000
$625,000
Average Days on Market
52
42
( > 1 ACRE )
COMPARISON
-164
1
COMPARISON
-7 -24% -$60,000 -23
COMPARISON
3 43.17% $30,000 -10
*From RMLS data JANUARY 1 2019 - JUNE 30 2019 vs JANUARY 1 2020 – JUNE 30 2020 Cascade Sotheby’s International Realty is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information provided is “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.
MID YEAR MARKET REPORT
SE Portland
County: Multnomah
ALL RESIDENTIAL
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
1668
1509
Total Sold Volume
$704,091,000
$664,869,000
-5.57%
Median Sales Price
$375,000
$390,000
$15,000
Average Days on Market
38
37
RESIDENTIAL WITH ACREAGE
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
6
5
Total Sold Volume
$3,119,000
$2,986,000
Median Sales Price
$507,500
$735,000
Average Days on Market
87
53
TOWNHOMES & CONDOS
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
77
61
Total Sold Volume
$56,716,000
$42,243,000
-25.52%
Median Sales Price
$565,000
$535,000
-$30,000
Average Days on Market
57
49
( > 1 ACRE )
COMPARISON
-159
-1
COMPARISON
-1 -4.26% $227,500 -34
COMPARISON
-16
-8
*From RMLS data JANUARY 1 2019 - JUNE 30 2019 vs JANUARY 1 2020 – JUNE 30 2020 Cascade Sotheby’s International Realty is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information provided is “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.
MID YEAR MARKET REPORT
Beaverton Zip Codes: 97005, 97007, 97075, 97077, 97225, 97006, 97008, 97076, 97223, 97229 Population: 97,514 County: Washington ALL RESIDENTIAL
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
1135
1075
Total Sold Volume
$465,119,000
$458,109,000
Median Sales Price
$396,000
$415,000
Average Days on Market
32
34
RESIDENTIAL WITH ACREAGE
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
7
10
Total Sold Volume
$6,733,000
$9,097,000
Median Sales Price
$800,500
$875,000
Average Days on Market
209
59
TOWNHOMES & CONDOS
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
18
9
Total Sold Volume
$17,320,000
$11,037,000
-36.28%
Median Sales Price
$543,000
$480,000
-$63,000
Average Days on Market
15
41
( > 1 ACRE )
COMPARISON
-60 -1.51% $19,000 2
COMPARISON
3 35.11% $74,500 -150
COMPARISON
-9
26
*From RMLS data JANUARY 1 2019 - JUNE 30 2019 vs JANUARY 1 2020 – JUNE 30 2020 Cascade Sotheby’s International Realty is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information provided is “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.
MID YEAR MARKET REPORT
Gresham Zip Codes: 97030, 97080, 97233 Population: 111,053 County: Multnomah
ALL RESIDENTIAL
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
518
543
Total Sold Volume
$186,152,000
$200,366,000
Median Sales Price
$350,000
$365,550
Average Days on Market
41
48
RESIDENTIAL WITH ACREAGE
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
13
11
Total Sold Volume
$7,618,000
$6,644,000
-12.79%
Median Sales Price
$602,000
$655,000
$53,000
Average Days on Market
93
132
TOWNHOMES & CONDOS
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
9
8
Total Sold Volume
$3,794,000
$3,434,000
Median Sales Price
$379,500
$369,500
Average Days on Market
46
76
( > 1 ACRE )
COMPARISON
25 7.64% $15,550 7
COMPARISON
-2
39
COMPARISON
-1 -9.49% -$10,000 30
*From RMLS data JANUARY 1 2019 - JUNE 30 2019 vs JANUARY 1 2020 – JUNE 30 2020 Cascade Sotheby’s International Realty is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information provided is “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.
MID YEAR MARKET REPORT
Hillsboro Zip Codes: 97123, 97124, 97006 Population: 106,894 County: Washington
ALL RESIDENTIAL
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
634
760
Total Sold Volume
$263,105,000
$328,030,000
24.68%
Median Sales Price
$385,000
$406,000
$21,000
Average Days on Market
32
38
RESIDENTIAL WITH ACREAGE
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
33
24
Total Sold Volume
$26,775,000
$18,510,000
-30.87%
Median Sales Price
$774,450
$769,950
-$4,500
Average Days on Market
81
58
TOWNHOMES & CONDOS
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
5
7
Total Sold Volume
$2,201,000
$3,859,000
Median Sales Price
$426,000
$550,000
Average Days on Market
35
44
( > 1 ACRE )
COMPARISON
126
6
COMPARISON
-9
-23
COMPARISON
2 75.33% $124,000 9
*From RMLS data JANUARY 1 2019 - JUNE 30 2019 vs JANUARY 1 2020 – JUNE 30 2020 Cascade Sotheby’s International Realty is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information provided is “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.
MID YEAR MARKET REPORT
Lake Oswego Zip Codes: 97034, 97035 Population: 39,196 Counties: Clackamas, Multnomah, Washington
ALL RESIDENTIAL
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
446
338
Total Sold Volume
$325,929,000
$264,664,000
-18.80%
Median Sales Price
$602,800
$637,000
$34,200
Average Days on Market
48
56
RESIDENTIAL WITH ACREAGE
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
6
5
Total Sold Volume
$10,239,000
$10,245,000
0.06%
Median Sales Price
$1,450,000
$1,930,000
$480,000
Average Days on Market
47
204
( > 1 ACRE )
COMPARISON
-108
8
COMPARISON
-1
157
TOWNHOMES & CONDOS
2019 JANUARY – JUNE
2020 JANUARY – JUNE
COMPARISON
Total Units Sold
2
1
Total Sold Volume
$4,226,000
$805,000
-80.95%
Median Sales Price
$2,112,750
$805,000
-$1,307,750
Average Days on Market
58
64
-1
6
*From RMLS data JANUARY 1 2019 - JUNE 30 2019 vs JANUARY 1 2020 – JUNE 30 2020 Cascade Sotheby’s International Realty is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information provided is “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.
MID YEAR MARKET REPORT
Oregon City Zip Codes: 97054 Population: 36,360 County: Clackamas
ALL RESIDENTIAL
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
444
384
Total Sold Volume
$205,205,000
$181,593,000
-11.51%
Median Sales Price
$434,950
$450,000
$15,050
Average Days on Market
41
49
RESIDENTIAL WITH ACREAGE
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
76
65
Total Sold Volume
$51,989,000
$42,454,000
-18.34%
Median Sales Price
$589,500
$629,900
$40,400
Average Days on Market
67
69
TOWNHOMES & CONDOS
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
7
4
Total Sold Volume
$3,252,000
$1,887,000
-41.97%
Median Sales Price
$437,000
$421,250
-$15,750
Average Days on Market
17
12
( > 1 ACRE )
COMPARISON
-60
8
COMPARISON
-11
2
COMPARISON
-3
-5
*From RMLS data JANUARY 1 2019 - JUNE 30 2019 vs JANUARY 1 2020 – JUNE 30 2020 Cascade Sotheby’s International Realty is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information provided is “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.
MID YEAR MARKET REPORT
Tigard Zip Codes: 97223, 97224, 97281 Population: 53,148 County: Washington
ALL RESIDENTIAL
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
493
462
Total Sold Volume
$223,054,000
$218,168,000
-2.19%
Median Sales Price
$439,900
$464,000
$24,100
Average Days on Market
35
37
RESIDENTIAL WITH ACREAGE
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
3
5
Total Sold Volume
$2,475,000
$2,947,000
Median Sales Price
$735,000
$583,000
Average Days on Market
128
84
TOWNHOMES & CONDOS
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
4
3
Total Sold Volume
$2,222,000
$1,802,000
-18.90%
Median Sales Price
$495,920
$420,000
-$75,920
Average Days on Market
16
39
( > 1 ACRE )
COMPARISON
-31
2
COMPARISON
2 19.07% -$152,000 -44
COMPARISON
-1
23
*From RMLS data JANUARY 1 2019 - JUNE 30 2019 vs JANUARY 1 2020 – JUNE 30 2020 Cascade Sotheby’s International Realty is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information provided is “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.
MID YEAR MARKET REPORT
Tualatin Zip Codes: 97062 Population: 27,478 Counties: Washington, Clackamas
ALL RESIDENTIAL
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
180
149
Total Sold Volume
$86,630,000
$77,648,000
-10.37%
Median Sales Price
$475,000
$500,000
$25,000
Average Days on Market
35
28
RESIDENTIAL WITH ACREAGE
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
10
12
Total Sold Volume
$8,000,000
$12,861,000
60.76%
Median Sales Price
$685,000
$1,054,000
$369,000
Average Days on Market
60
51
TOWNHOMES & CONDOS
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
1
1
Total Sold Volume
$520,000
$650,000
25%
Median Sales Price
$520,000
$649,900
$129,900
Average Days on Market
8
10
( > 1 ACRE )
COMPARISON
-31
-7
COMPARISON
2
-9
COMPARISON
0
2
*From RMLS data JANUARY 1 2019 - JUNE 30 2019 vs JANUARY 1 2020 – JUNE 30 2020 Cascade Sotheby’s International Realty is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information provided is “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.
MID YEAR MARKET REPORT
West Linn Zip Codes: 97068 Population: 26,703 County: Clackamas
ALL RESIDENTIAL
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
293
229
Total Sold Volume
$173,718,000
$14,067,900
-91.90%
Median Sales Price
$559,000
$565,000
$6,000
Average Days on Market
54
52
RESIDENTIAL WITH ACREAGE
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
27
14
Total Sold Volume
$29,050,000
$19,415,000
-33.17%
Median Sales Price
$950,000
$1,205,000
$255,000
Average Days on Market
128
137
TOWNHOMES & CONDOS
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
0
1
1
Total Sold Volume
-
$500,000
-
Median Sales Price
-
$500,000
-
Average Days on Market
-
141
-
( > 1 ACRE )
COMPARISON
-64
-2
COMPARISON
-13
9
COMPARISON
*From RMLS data JANUARY 1 2019 - JUNE 30 2019 vs JANUARY 1 2020 – JUNE 30 2020 Cascade Sotheby’s International Realty is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information provided is “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.
MID YEAR MARKET REPORT
Wilsonville Zip Codes: 97070 Population: 24,058 Counties: Clackamas, Washington
ALL RESIDENTIAL
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
242
198
Total Sold Volume
$120,064,000
$103,635,000
-13.68%
Median Sales Price
$465,000
$471,000
$6,000
Average Days on Market
50
41
RESIDENTIAL WITH ACREAGE
2019 JANUARY – JUNE
2020 JANUARY – JUNE
Total Units Sold
5
7
Total Sold Volume
$7,275,000
$9,873,000
35.71%
Median Sales Price
$965,000
$1,017,500
$52,500
Average Days on Market
49
53
( > 1 ACRE )
COMPARISON
-44
-9
COMPARISON
2
4
*From RMLS data JANUARY 1 2019 - JUNE 30 2019 vs JANUARY 1 2020 – JUNE 30 2020 Cascade Sotheby’s International Realty is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information provided is “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.
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Gearhart, OR 97138
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Cannon Beach, OR 97110
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PO Box 609
Manzanita 467 Laneda Avenue, Box 820 Manzanita, OR 97130
Sisters, OR 97759
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Lake Oswego, OR 97034
57100 Beaver Drive, Building 5, Suite 150
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Sunriver, OR 97707
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Serving Oregon & SW Washington for over 25 years
This 2019 Home Market Report is for illustrative and informative purposes only and is not an offer to perform professional real estate services or marketing. The information contained in the report is not a representation or guarantee regarding future profits or income related to real estate, and the information contained in this report should not be solely relied upon to conduct real estate activity. Cascade Sotheby’s International Realty makes no representation, warranty, or guaranty as to accuracy of any information contained in the Report and encourages you to always consult with a trusted real estate, legal, and tax professional for independent verification.