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A Publication of RMLS™, The Source for Real Estate Statistics in Your Community Residential Review: Metro Portland, Oregon March Residential Highlights Comparing March 2012 with March 2011 shows improvement in both pending and closed sales, which were also up compared to the previous month. There were 2,272 accepted offers, 12.8% more than the 2,014 reported in March 2011 and 7.7% more than the 2,109 in the previous month. The 1,694 closed sales represent a 4.9% increase over the same month last year, when 1,615 were recorded, and 34.2% more than the 1,262 sales in February. New listings this March (2,886) were down compared to March last year (3,056), but rose 15.8% compared to February (2,492). The combination of fewer new listings and more closed sales contributed to the lowest unsold inventory since June 2007. It would take only five months to sell the 8,391 active listings at the March rate of sales.

Change

2011

2012

Portland Metro Residential Highlights

March 2012 Reporting Period

First Quarter Report Comparing first quarter 2012 with the same period in 2011 shows closed sa les i nc reased 12.2%. There were more closed sales in the first three months of 2012 than in any first quarter since 2007. Pending sales were up by 18.2% in the quarterly comparison, with new listings decreasing by 12.0%. A comparison of first quarter prices this year and last shows average sales price declined less than one half percent. The average sale price was $251,700 in the first quarter of t his year and $252,800 in the comparable period last year. The median sale price decreased 1.4% ($212,000 this year and $215,00 in 2011). Total days on market decreased by 17.9%, going from 165 in the first quarter last year to 135 in the first quarter of 2012.

New Listings

Pending Sales

Closed Sales

Average Sale Price

Inventory in Months* 2010 2011 2012 January 12.6 11.3 7.0 February 12.9 10.9 6.5 March 7.8 7.1 5.0 April 7.3 7.2 May 7.0 6.8 June 7.3 6.0 July 10.8 7.0 August 11.0 6.2 September 10.5 6.7 October 10.7 6.8 November 10.2 6.2 December 7.9 5.3 *Inventory in Months is calculated by dividing the Active Listings at the end of the month in question by the number of closed sales for that month. Percent Change of 12-Month Sale Price Compared With The Previous 12 Months Average Sale Price % Change: -5.1% ($262,700 v. $276,900) Median Sale Price % Change: -6.0% ($220,000 v. $234,000)

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

Median Sale Price

Total Market Time

March

2,886

2,272

1,694

252,600

215,700

135

Year-to-date

8,070

5,809

4,303

251,700

212,000

135

March

3,056

2,014

1,615

261,100

215,000

161

Year-to-date

9,172

4,915

3,834

252,800

215,000

165

March

-5.6%

12.8%

4.9%

-3.3%

0.3%

-16.3%

-12.0%

18.2%

12.2%

-0.4%

-1.4%

-17.9%

Year-to-date

*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.

© Copyright RMLS™ 2012. All Rights Reserved.


AREA REPORT • 3/2012 Portland Metropolitan Area, Oregon RESIDENTIAL

Average Sale Price

Median Sale Price

Avg. Sale Price % Change2

176

207,900

200,000

-0.4%

2

412,500

6

74,800

6

744,700

NE Portland

565

285

87

229

9.6%

176

274,300

89

736

574

22.4%

462

273,400

236,500

-4.4%

5

433,500

8

160,300

18

341,800

SE Portland

804

338

115

284

17.4%

184

199,900

93

962

716

22.0%

533

207,300

169,000

-7.5%

10

226,400

9

92,800

28

332,800

144

Gresham/ Troutdale

558

196

81

146

7.4%

119

175,200

151

564

355

3.8%

269

189,800

167,000

-9.1%

1

950,000

22

165,000

8

160,300

145

Milwaukie/ Clackamas

737

256

102

217

49.7%

138

253,900

134

724

509

32.9%

335

238,700

210,100

-6.7%

3

261,000

15

189,000

Oregon City/ Canby

536

157

61

108

-4.4%

87

235,600

140

432

300

9.5%

224

227,100

207,800

-3.1%

-

-

12

99,500

2

238,500

Lake Oswego/ West Linn

613

205

95

117

0.9%

84

373,200

160

521

325

15.7%

224

380,600

323,400

0.8%

-

-

8

218,100

1

275,000

W Portland

932

347

130

241

11.6%

173

374,200

156

914

599

4.2%

443

378,900

310,000

-4.4%

4

456,500

12

227,000

10

400,200

NW Wash Co.

332

119

42

131

32.3%

92

348,800

134

368

311

32.3%

195

348,600

320,000

1.5%

1

242,000

7

163,900

-

Beaverton/ Aloha

602

213

66

218

10.7%

162

192,200

142

664

524

13.4%

407

199,000

176,000

-7.7%

2

283,500

5

78,400

7

265,400

Tigard/ Wilsonville

693

224

82

183

5.2%

163

276,000

175

672

500

28.9%

371

263,700

240,000

-7.7%

2

552,500

10

156,100

1

245,000

Hillsboro/ Forest Grove

592

173

66

159

12.8%

123

201,700

118

525

424

23.3%

339

201,700

180,000

-4.9%

7

159,200

11

539,800

5

180,400

Mt. Hood

109

17

7

10

66.7%

12

150,500

182

41

35

84.2%

26

187,300

161,000

-6.7%

-

-

1

8,500

Columbia Co.

341

83

47

47

-14.5%

46

172,300

151

192

140

14.8%

112

158,900

163,000

-9.9%

-

-

7

106,100

1

106,000

Yamhill Co.

672

147

76

98

18.1%

66

189,400

156

410

248

11.2%

187

196,200

165,000

-6.3%

13

340,100

6

132,700

3

141 142 143 148 149 153

Closed Sales

Closed Sales

483,700

Average Sale Price

Closed Sales

18.0%

Average Sale Price

Pending Sales 2012 v. 2011

249

Average Sale Price

Pending Sales 2012

345

Closed Sales

New Listings

123

3

Total Market Time

218,200

Average Sale Price

69

Closed Sales

2.4%

155

Pending Sales 2012 v. 20111

84

Pending Sales 2012

44

New Listings

126

Active Listings

305

146

Year-To-Date

147

Year-To-Date

150

Year-To-Date

151

MULTIFAMILY

152

Year-To-Date

LAND

N Portland

156 1

Expired/Canceled Listings

Current Month

COMMERCIAL

-

-

-

-

-

Percent change in number of pending sales this year compared to last year. The Current Month section compares March 2012 with March 2011. The YearTo-Date section compares 2012 year-to-date statistics through March with 2011 year-to-date statistics through March.

2

% Change is based on a comparison of the rolling average sale price for the last 12 months (4/1/11-3/31/12) with 12 months before (4/1/10-3/31/11).

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™ 2012. All Rights Reserved.


ACTIVE RESIDENTIAL LISTINGS

Active Residential Listings 16,000 14,000

PORTLAND, OR

12,000

This graph shows the active

10,000

residential listings over the

8,000

past three calendar years in

6,000

the greater Portland, Oregon metropolitan area.

4,000

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2010 12,449 13,101 14,042 14,182 14,372 14,752 15,271 15,200 14,714 13,805 13,103 11,611 2011 11,697 11,746 11,458 11,621 11,825 11,817 11,970 11,276 10,666 10,012 9,451 8,612 2012 8,514 8,256 8,391

TOTAL ACTIVE LISTINGS

Total Active Listings 20,000

PORTLAND, OR 17,500

This graph shows the 15,000

total active listings over the past three calendar

12,500

years in the greater

10,000

Portland, Oregon

7,500

metropolitan area.

5,000

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2010 15,724 16,496 17,491 17,699 17,832 18,180 18,750 18,710 18,174 17,205 16,533 14,586 2011 14,815 14,869 14,544 14,736 14,973 14,921 15,000 14,269 13,579 12,852 12,283 11,167 2012 11,175 10,939 10,957

NEW LISTINGS New Listings

PORTLAND, OR

6,000

This graph shows the

5,000

new residential listings

4,000

over the past three

3,000

calendar years in the

2,000

greater Portland, Oregon

1,000

metropolitan area.

0

2010

2011

2012

3 © Copyright RMLS™ 2012. All Rights Reserved.


PENDING LISTINGS Pending Sales

PORTLAND, OR

3,500

This graph represents

3,000

monthly accepted offers

2,500

in the Portland, Oregon

2,000 1,500

metropolitan area over

1,000

the past three calendar

500

years.

0

2010

2011

2012

CLOSED SALES

Closed Sales

PORTLAND, OR

This graph shows the

2,500

closed sales over the past

2,000

five calendar years in the greater Portland, Oregon

1,500

2008 2009

metropolitan area.

1,000

2010 2011 2012

500 0

DAYS ON MARKET

Average Total Market Time

PORTLAND, OR

200 180 160 140 120 100 80 60 40 20 0

This graph shows the average market time for sales in the Portland, Oregon metropolitan area over the past three calendar years. 2010 TMT

2011 TMT

2012 TMT

4 © Copyright RMLS™ 2012. All Rights Reserved.


AVERAGE SALE PRICE

This graph represents the average sale price for all homes sold in the Portland, Oregon metropolitan area.

PORTLAND, OR

Average Sale Price $375,000 $355,000 $335,000 $315,000

$295,000 $275,000 $255,000 $235,000

$215,000

$175,000

Mar-02 Jun-02 Sep-02 Dec-02 Mar-03 Jun-03 Sep-03 Dec-03 Mar-04 Jun-04 Sep-04 Dec-04 Mar-05 Jun-05 Sep-05 Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08 Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 Jun-11 Sep-11 Dec-11 Mar-12

$195,000

MEDIAN SALE PRICE

Median Sale Price: Portland, OR & Clark Co., WA

PORTLAND, OR

240000 220000 200000

This graph shows the

180000

median sale price over

160000

the past 12 months in

140000

the greater Portland,

120000

Oregon, metropolitan area and Clark

100000 MAR APR

MAY JUNE JULY AUG SEPT OCT Clark County

NOV

DEC

JAN

Metro Portland, OR

5 © Copyright RMLS™ 2012. All Rights Reserved.

FEB

MAR

County.


MEDIAN SALE PRICE March 2012

SW WASHINGTON

$149,000

$285,000

Woodland

N/NE Clark County

$203,000

PORTLAND

$304,000

Battle Ground

Ridgefield/La Center

METRO

$ 167,500 Columbia County $255,900 Salmon Creek $207,500 Felida

$ 345,800 North Washington County Sauvie Island

$270,000 Brush Prairie Hockinson

$159,900 Hazel Dell Minnehaha

$142,800 5 Corners Orch.

$137,000 Cent. Vancouver

$165,000 Cascade Park

$138,300 Heights

$ 217,000 N Portland

$ 176,000 Hillsboro Forest Grove

$ 175,500 Beaverton Aloha

$ 260,000 Tigard/Tualatin Sherwood Wilsonville

$ 321,600 West Portland

$235,000 Camas/Washougal $ 236,900 NE Portland $ 161,100 SE Portland $ 228,500

$ 327,700

Milwaukie/Gladstone/ Boring/Clackamas Estacada

Lake Oswego West Linn

$ 160,000 $ 211,000 Oregon City Canby Molalla Beavercreek

Yamhill County

6 © Copyright RMLS™ 2012. All Rights Reserved.

$ 163,900 Gresham Troutdale Sandy Corbett Fairview

$ 138,800 Mt. Hood: Zigzag Welches Rhododendron Wemme Brightwood Government Camp


MULTIPLE LISTING SERVICE

Corporate 8338 NE Alderwood Rd, Suite 230 Portland, OR 97220 (503) 236-7657 Fax: (503) 230-0689

Lane County: Eugene 2139 Centennial Plaza Eugene, OR 97401 (541) 686-2885 Fax: (541) 484-3854 Lane County: Florence PO Box 414 Florence, OR 97439 (541) 902-2560 Fax: (541) 902-1341 Douglas County 3510 NE Edenbower Roseburg, OR 97470 (541) 673-3571 Fax: (541) 673-6581 Curry County PO Box 6307 Brookings, OR 97415 (541) 469-0219 Fax: (541) 469-9695 Mid-Columbia PO Box 1088 Hood River, OR 97031 (541) 436-2956 Fax: (541) 387-6657 Eastern Oregon PO Box 751 Hermiston, OR 97838 (541) 567-5186 Fax: (541) 289-7320 Coos County 1946 Sherman Ave., Suite 101 North Bend, OR 97459 (541) 751-1070 Fax: (541) 751-1083

condos sold in the last three calendar years in the

PORTLAND, OR

Portland, Oregon metropolitan area.

Southwest Washington 1514 Broadway, Suite 101 Vancouver, WA 98663 (360) 696-0718 Fax: (360) 696-9342 Salem 2110 Mission St. SE, Suite 305 Salem, OR 97302 (503) 587-8810 Fax: (503) 585-3817

This graph represents the median sale price for all

MEDIAN SALE PRICE CONDOS

Median Condo Sale Price $245,000 $220,000 $195,000 $170,000 $145,000

$120,000

2010

2011

2012

QUARTERLY This graph shows the number of closed sales by quarter CLOSINGS for the Portland, Oregon, metropolitan area. PORTLAND, OR Quarterly Closings 12000 10000 8000

6000 4000

The statistics presented in Market Action are compiled monthly based on figures generated by RMLS™. Market Action Reports are compiled for the following areas: Portland metropolitan area, Southwest Washington, MidColumbia, Columbia Basin, Baker County, Coos County, Curry County, Douglas County, Grant County, Lane County, North Coastal Counties, Polk & Marion Counties, Union County, and Wallowa County.

2000 0 '01

'02

'03 1st Quarter

'04

'05

'06

2nd Quarter

'07 3rd Quarter

'08

'09

'10

4th Quarter

RMLS™ was formed by area Boards and Associations of REALTORS® in 1991. E-mail subscriptions are available for $45 per year by contacting RMLS™, (503) 236-7657. Reproduction of any portion of this copyrighted material is prohibited without prior approval of RMLS™.

Steve Lucas, Chairman of the Board Kurt von Wasmuth, President/CEO Mary-Frances Makichen, Editor © Copyright RMLS™ 2012. All Rights Reserved.

'11

'12


March 2012-Portland Real Estate Monthly Activity Report