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A Publication of RMLS™, The Source for Real Estate Statistics in Your Community Residential Review: Metro Portland, Oregon January Residential Highlights The year has started off on a positive note. Sales activity in the Portland metro area continued to show improvement in closed and pending sales when comparing this January to the same month a year ago. Closed sales experienced a 18.3% i ncrease, post i ng t he h ighest nu mbers for Ja nua r y since 2007. Pending sales saw g rowt h of 22.4% i n t he sa me comparison. Market time also improved, decreasing from 160 to 136 days. There were 16.5% fewer newly listed residential properties. The combination of higher sales and fewer new listings helped to create a much lower listing inventory for this season than seen in the previous two years. At January’s rate of sales, the active listing count of 8,514 would be exhausted in only 7.0 months. (See chart to the right.)

Change

2011

2012

Portland Metro Residential Highlights

January 2012 Reporting Period

Comparing month-to-previous month, closed sales fell 24.1% (1,612 v. 1,224) when compared to December 2011, pending sales increased 26.3% (1,443 v. 1,823) and new listings climbed 53.7% (1,700 v. 2,613).

Sale Prices T h e ave rage s a le pr ic e of $249,100 for January 2012 was virtually the same as the $248,900 posted in January 2011, while the median declined 3.5%. Compared to December 2011, the average price fell 4.5% ($260,800 v. $249,100) and the median fell 4.2% ($216,600 v. $207,500). Over the rolling twelve month calculation shown to the right, which compares February 2010-January 2011 with February 2011-January 2012, the median price dropped 6.9% and the average price declined 6.1%.

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 March 7.8 7.1 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: -6.1% ($263,200 v. $280,400) Median Sale Price % Change: -6.9% ($220,500 v. $236,800)

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

Median Sale Price

Total Market Time

January

2,613

1,823

1,224

249,100

207,500

136

Year-to-date

2,613

1,823

1,224

249,100

207,500

136

January

3,128

1,489

1,035

248,900

215,000

160

Year-to-date

3,128

1,489

1,035

248,900

215,000

160

January

-16.5%

22.4%

18.3%

0.1%

-3.5%

-14.6%

Year-to-date

-16.5%

22.4%

18.3%

0.1%

-3.5%

-14.6%

*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 • 1/2012 Portland Metropolitan Area, Oregon RESIDENTIAL

Year-To-Date

Year-To-Date

Year-To-Date

Average Sale Price

Closed Sales

Average Sale Price

Closed Sales

Average Sale Price

Closed Sales

Avg. Sale Price % Change

Median Sale Price

Average Sale Price

Closed Sales

Pending Sales 2012 v. 2011

Pending Sales 2012

New Listings

3

Total Market Time

Average Sale Price

Closed Sales

Pending Sales 2012 v. 2011

Pending Sales 2012

Expired/Canceled Listings

New Listings

MULTIFAMILY

N Portland

296

120

63

85

25.0%

40

195,700

67

120

85

25.0%

40

195,700

200,100

-3.1%

1

250,000

NE Portland

557

226

103

176

45.5%

132

268,300

109

226

176

45.5%

132

268,300

219,800

-6.2%

2

307,500

3

SE Portland

777

294

141

226

22.2%

164

225,400

110

294

226

22.2%

164

225,400

170,500

-8.4%

4

154,000

144

Gresham/ Troutdale

577

181

96

96

-13.5%

72

216,600

121

181

96

-13.5%

72

216,600

165,900

-7.1%

145

Milwaukie/ Clackamas

794

235

102

141

3.7%

107

230,600

113

235

141

3.7%

107

230,600

204,300

-7.9%

146

141

Active Listings

LAND

2

Year-To-Date

1

Current Month

COMMERCIAL

Oregon City/ Canby

549

138

58

95

14.5%

69

222,700

159

138

95

14.5%

69

222,700

200,800

-7.2%

-

Lake Oswego/ West Linn

589

153

87

97

12.8%

75

364,800

176

153

97

12.8%

75

364,800

300,000

-1.3%

W Portland

913

278

178

173

1.8%

127

366,300

176

278

173

1.8%

127

366,300

290,000

NW Wash Co.

391

132

43

86

13.2%

46

339,100

118

132

86

13.2%

46

339,100

Beaverton/ Aloha

598

242

88

183

31.7%

112

206,900

154

242

183

31.7%

112

Tigard/ Wilsonville

729

235

101

153

47.1%

96

260,900

166

235

153

47.1%

Hillsboro/ Forest Grove

597

187

78

171

92.1%

91

183,800

145

187

171

Mt. Hood

114

11

14

10

-16.7%

4

257,800

134

11

Columbia Co.

352

56

17

52

73.3%

29

140,500

165

Yamhill Co.

,681

125 ,

, 66

, 79

0.0%

, 60

158,800 ,

121

-

3

694,700

192,300

3

323,000

3

104,000

3

348,800

1

49,000

2

152,500

4

101,200

-

3

43,500

1

200,000

-

-

1

320,000

1

275,000

-5.5%

-

-

4

126,900

1

520,000

311,000

-0.9%

-

-

206,900

173,000

-8.8%

-

-

1

60,000

96

260,900

235,400

-8.6%

1

80,000

6

122,100

92.1%

91

183,800

173,500

-8.7%

2

97,800

3

496,700

10

-16.7%

4

257,800

177,500

-5.1%

-

-

56

52

73.3%

29

140,500

115,000

-12.8%

-

-

,125

, 79

0.0%

, 60

158,800 ,

139,800 ,

-9.8%

-

-

-

-

1

103,000

-

-

-

-

-

-

4

-

323,100

-

2

182,100

153

152

151

150

149

148

147

143

142

-

-

-

-

1

90,000

-

-

3

224,300 ,

156

155

-

4

130,300 ,

Note: Data for the North Coastal Counties is now reported in the monthly “North Coastal Counties” Market Action Report. Note: Data for Polk and Marion Counties is now reported in the monthly “Polk & Marion Counties” Market Action Report.

1

Percent change in number of pending sales this year compared to last year. The Current Month section compares January 2012 with January 2011. The Year-ToDate section compares year-to-date statistics from January 2012 with year-to-date statistics from January 2011.

2

% Change is based on a comparison of the rolling average sale price for the last 12 months (2/1/11-1/31/12) with 12 months before (2/1/10-1/31/11).

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.


16000

ACTIVE RESIDENTIAL LISTINGS

14000

PORTLAND, OR

12000

This graph shows the active

10000

residential listings over the

8000

past three calendar years in

6000

the greater Portland,

Active Residential Listings

4000

Oregon metropolitan area.

2010

2011

2012

TOTAL ACTIVE LISTINGS

Total Active Listings

PORTLAND, OR

20,000

This graph shows the

17,500

total active listings over

15,000

the past three calendar years in the greater Portland, Oregon

12,500 10,000 7,500 5,000

metropolitan area.

2010

2011

2012

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 metropolitan area.

1,500

2008 2009

1,000

2010 2011

500

2012

0

DAYS ON MARKET

Average 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.


This graph represents the average sale price for all homes sold in the Portland,

AVERAGE SALE PRICE

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

Nov-11

May-11

Nov-10

May-10

Nov-09

May-09

Nov-08

May-08

Nov-07

May-07

Nov-06

May-06

Nov-05

May-05

Nov-04

May-04

Nov-03

May-03

Nov-02

May-02

$175,000

Nov-01

$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 JAN

FEB

MAR APR

MAY JUNE JULY AUG SEPT OCT

Clark County

NOV

Metro Portland, OR

5 © Copyright RMLS™ 2012. All Rights Reserved.

DEC

JAN

County.


MEDIAN SALE PRICE January 2012

SW WASHINGTON

$192,000

$143,800

Woodland

N/NE Clark County

$185,000

PORTLAND

$194,000

Battle Ground

Ridgefield/La Center

METRO

$ 115,000 Columbia County $227,000 Salmon Creek $190,000 Felida

$ 311,000 North Washington County Sauvie Island

$215,500 Brush Prairie Hockinson

$152,000 Hazel Dell Minnehaha

$138,500 5 Corners Orch.

$114,500 Cent. Vancouver

$160,000 Cascade Park

$252,100 Heights

$ 200,100 N Portland

$ 173,500 Hillsboro Forest Grove

$ 173,000 Beaverton Aloha

$ 235,400 Tigard/Tualatin Sherwood Wilsonville

$ 290,000 West Portland

$176,200 Camas/Washougal $ 219,800 NE Portland $ 170,500 SE Portland $ 204,300

$ 300,000

Milwaukie/Gladstone/ Boring/Clackamas Estacada

Lake Oswego West Linn

$ 139,800 $ 200,800 Oregon City Canby

Yamhill County

Molalla Beavercreek

6 © Copyright RMLS™ 2012. All Rights Reserved.

$ 165,900 Gresham Troutdale Sandy Corbett Fairview

$ 177,500 Mt. Hood: Zigzag Welches Rhododendron Wemme Brightwood Government Camp


MULTIPLE LISTING SERVICE

Corporate 825 NE Multnomah, Suite 270 Portland, OR 97232 (503) 236-7657 Fax: (503) 230-0689

MEDIAN SALE PRICE CONDOS PORTLAND, OR

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 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

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

$245,000 $220,000 $195,000 $170,000 $145,000

$120,000

2010

AFFORDABILITY PORTLAND, OR

2011

2012

This graph shows the affordability for housing in Portland, Oregon in December 2011.

Affordability Index 200

Eastern Oregon PO Box 751 Hermiston, OR 97838 (541) 567-5186 Fax: (541) 289-7320

180

Coos County 1946 Sherman Ave., Suite 101 North Bend, OR 97459 (541) 751-1070 Fax: (541) 751-1083

100

160

140 120 80 60

40 20

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.

0 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

The statistics presented in Market Action are compiled monthly based on figures generated by RMLS™.

AFFORDABILITY - According to a formula from the National Association of REALTORS®, buying a house in the Portland metro area is affordable for a family earning the median income. A family earning the median income ($72,000 in 2011, per HUD) can afford 182% of a monthly mortgage payment on a median priced home ($216,600 in December). The formula assumes that the buyer has a 20% down payment and a 30 year fixed rate of 3.96% (per Freddie Mac).

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.


Market Action Report for Janyary 2012