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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 Portland metro area started the year with a little mixed activity this January. New listings (2,212) rose 55.7% from December (1,421) but fell 12.2% short of the 2,519 new listings offered last year in January 2016. Similarly, pending sales (1,990) ended 13.3% stronger than last month in December (1,757) but were 11.3% cooler than last January (2,243). Closed sales, at 1,847, fell just 0.6% short of the 1,859 closings recorded last year in January 2016 but ended 29.5% below the 2,621 closings recorded last month in December 2016.

January 2017 Reporting Period

There were 3,214 active residential listings in the Portland metro area in January.

Average and Median Sale Prices Comparing the average price of homes sold in the twelve months ending January 31st of this year ($398,400) with the average price of homes in the twelve months ending January 2016 ($355,600) shows an increase of 12.0%. In the same comparison, the median has increased 12.9% from $309,900 to $350,000.

2017 2016 Change

*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

Total market time increased by nine days in January, ending at 58 days. During the same period, inventory rose slightly to 1.7 months. Portland Metro Residential Highlights

Inventory in Months* 2015 2016 2017 January 3.4 1.8 1.7 February 3.0 1.8 March 1.9 1.3 April 1.8 1.4 May 1.7 1.4 June 1.6 1.5 July 1.7 1.9 August 1.9 1.9 September 1.9 2.0 October 1.8 2.0 November 2.0 1.8 December 1.2 1.3

Average Sale Price % Change: +12.0% ($398,400 v. $355,600) Median Sale Price % Change: +12.9% ($350,000 v. $309,900)

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

New Listings

Pending Sales

Closed Sales

Average Sale Price

Median Sale Price

Total Market Time

January

2,212

1,990

1,847

409,900

350,000

58

Year-to-date

2,212

1,990

1,847

409,900

350,000

58

January

2,519

2,243

1,859

355,500

310,000

57

December

1,421

1,757

2,621

399,300

349,900

49

Year-to-date

2,519

2,243

1,859

355,500

310,000

57

-12.2%

-11.3%

-0.6%

15.3%

12.9%

2.2%

Prev Mo 2015

55.7%

13.3%

-29.5%

2.7%

0.0%

18.4%

Year-to-date

-12.2%

-11.3%

-0.6%

15.3%

12.9%

2.2%

January

© Copyright RMLS™ 2017. All Rights Reserved.


AREA REPORT • 1/2017

Portland Metropolitan Area, Oregon

-15.4%

64

341,900

28

95

77

-15.4%

64

341,900

328,700

12.5%

NE Portland

208

174

51

166

-23.9%

180

420,500

49

174

166

-23.9%

180

420,500

381,300

11.8%

-

-

1

SE Portland

308

253

62

229

-14.2%

220

358,000

50

253

229

-14.2%

220

358,000

314,000

10.6%

-

-

Gresham/ Troutdale

198

146

53

133

-25.7%

125

295,800

58

146

133

-25.7%

125

295,800

280,000

12.3%

1

Milwaukie/ Clackamas

281

189

63

155

-13.4%

149

373,200

65

189

155

-13.4%

149

373,200

351,600

11.9%

Oregon City/ Canby

197

116

35

118

-10.6%

116

380,700

62

116

118

-10.6%

116

380,700

347,000

12.1%

Lake Oswego/ West Linn

254

146

76

95

-20.8%

87

820,500

96

146

95

-20.8%

87

820,500

500,000

16.2%

W Portland

391

250

97

196

1.0%

197

571,900

79

250

196

1.0%

197

571,900

470,000

13.8%

NW Wash Co.

156

121

31

111

4.7%

80

482,100

47

121

111

4.7%

80

482,100

464,300

10.4%

-

Beaverton/ Aloha

164

184

39

182

-9.9%

157

351,700

42

184

182

-9.9%

157

351,700

340,000

12.1%

-

Tigard/ Wilsonville

287

211

55

194

10.2%

148

413,200

56

211

194

10.2%

148

413,200

385,900

9.2%

1

Hillsboro/ Forest Grove

205

162

49

139

-10.3%

143

354,600

38

162

139

-10.3%

143

354,600

323,000

15.0%

2

46

13

6

15

7.1%

18

307,600

93

13

15

7.1%

18

307,600

279,800

9.6%

Columbia Co.

109

51

19

50

-27.5%

54

263,500

95

51

50

-27.5%

54

263,500

264,800

11.6%

1

Yamhill Co.

291

101

38

130

-7.8%

109

316,700

59

101

130

-7.8%

109

316,700

280,000

12.7%

1

143 148 149 153 155 156 1

Mt. Hood

1

Average Sale Price 526,900

231,000

4

626,500

9

283,400

9

956,400

480,000

5

366,200

1

380,000

3

296,000

2

252,500

1

275,000

4

253,100

1

240,000

4

390,000

1

675,000

2

354,500

2

630,000

-

4

193,300

-

2

332,500

200,000

1

240,000

404,500

6

283,800

3

42,800

-

-

299,000

7

95,400

-

-

683,500

13

466,000

1

-

265,000

-

-

Closed Sales 1

-

299,000

Average Sale Price

Closed Sales

Closed Sales

Avg. Sale Price % Change2

Median Sale Price

Average Sale Price

Closed Sales

Pending Sales 2017 v. 20161

Pending Sales

New Listings

3

Total Market Time

77

144

Average Sale Price

36

145

Closed Sales

95

146

Pending Sales 2017 v. 20161

119

142

N Portland

147

Pending Sales

Year-To-Date

150

Expired.Canceled Listings

MULTIFAMILY

Year-To-Date

151

New Listings

Active Listings

LAND

Year-To-Date

152

141

COMMERCIAL Year-To-Date

Average Sale Price

RESIDENTIAL Current Month

-

-

-

-

3

2,258,300

-

2

1

317,500

206,000

Percent change in number of pending sales this year compared to last year. The Current Month section compares January 2017 with January 2016. The Year-To-Date section compares 2017 year-to-date statistics through January with 2016 year-to-date statistics through January.

2

% Change is based on a comparison of the rolling average sale price for the last 12 months (2/1/16-1/31/17) with 12 months before (2/1/15-1/31/16).

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™ 2017. All Rights Reserved.


8,500

ACTIVE RESIDENTIAL LISTINGS

7,500

PORTLAND, OR

6,500

This graph shows the active

5,500

residential listings over the

4,500

past three calendar years in

3,500

the greater Portland,

2,500

Oregon metropolitan area.

Active Residential Listings

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2015 4,996 4,947 4,767 4,853 5,125 5,388 5,708 5,837 5,657 5,021 4,252 3,381 2016 3,305 3,226 3,318 3,721 4,003 4,762 5,360 5,645 5,614 5,169 4,354 3,511 2017 3,214

TOTAL ACTIVE LISTINGS PORTLAND, OR

Total Active Listings 11,000 10,000

This graph shows the

9,000

total active listings over

8,000

the past three calendar

7,000

years in the greater

6,000

Portland, Oregon

5,000

metropolitan area.

4,000

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2015 6,764 6,718 6,518 6,622 6,934 7,175 7,549 7,665 7,417 6,737 5,905 4,785 2016 4,743 4,674 4,754 5,140 5,438 6,279 6,917 7,220 7,132 6,647 5,767 4,731 2017 4,386

NEW LISTINGS

New Listings

PORTLAND, OR

This graph shows the

5,000 4,500

new residential listings

4,000 3,500

over the past three

3,000

calendar years in the

2,500 2,000

greater Portland, Oregon

1,500 1,000

metropolitan area.

2015

2016

2017

3

© Copyright RMLS™ 2017. All Rights Reserved.


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

2015

2016

2017

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 2013

2,000

2014

1,500

2015

1,000

2016

500

2017

0

DAYS ON MARKET

Average Total Market Time 90

PORTLAND, OR

80

This graph shows the

70

average market time for

60 50

sales in the Portland,

40

Oregon metropolitan area

30

over the past three calendar

20

years. 2015 TMT

2016 TMT

2017 TMT

4

© Copyright RMLS™ 2017. All Rights Reserved.


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 $425,000 $375,000 $325,000 $275,000

Average Sale Price

Jan-17

Oct-16

Jul-16

Apr-16

Jan-16

Jul-15

Oct-15

Median Sale Price

MEDIAN SALE PRICE

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

PORTLAND, OR

$400,000 $350,000

This graph shows the

$300,000

median sale price over

$250,000

the past 12 months in

$200,000

the greater Portland,

$150,000 $100,000

Apr-15

Jan-15

Oct-14

Jul-14

Apr-14

Jan-14

Jul-13

Oct-13

Apr-13

Oct-12

Jan-13

Jul-12

Apr-12

Jan-12

Jul-11

Oct-11

Apr-11

Oct-10

Jan-11

Jul-10

Apr-10

Jan-10

Jul-09

Oct-09

Apr-09

$175,000

Jan-09

$225,000

Oregon, metropolitan JAN

FEB

MAR

APR

MAY

JUN

Clark County

JUL

AUG

SEP

OCT

NOV

Metro Portland, OR

5

© Copyright RMLS™ 2017. All Rights Reserved.

DEC

JAN

area and Clark County.


MEDIAN SALE PRICE January 2017

SW WASHINGTON

$280,000

$328,000

Woodland

N/NE Clark County

PORTLAND

$294,500 $365,000

Battle Ground

Ridgefield/La Center

METRO

$ 264,800 Columbia County $359,700 Salmon Creek $309,500 Felida

$ 464,300 North Washington County Sauvie Island

Hockinson $283,000 Hazel Dell Minnehaha

$259,700 5 Corners Orch.

$258,000 Cent. Vancouver

$ 340,000 Beaverton Aloha

$ 385,900 Tigard/Tualatin Sherwood Wilsonville

$ 470,000 West Portland

$381,800 Camas/Washougal $ 381,300 NE Portland $ 314,000 SE Portland $ 351,600

$ 500,000

Milwaukie/Gladstone/ Boring/Clackamas Estacada

Lake Oswego West Linn

$ 280,000 $ 347,000 Oregon City Canby Molalla Beavercreek

Yamhill County

6

$275,900 Cascade Park

$304,200 Heights

$ 328,700 N Portland

$ 323,000 Hillsboro Forest Grove

$345,000 Brush Prairie

© Copyright RMLS™ 2017. All Rights Reserved.

$ 280,000 Gresham Troutdale Sandy Corbett Fairview

$ 279,800 Mt. Hood: Zigzag Welches Rhododendron Wemme Brightwood Government Camp


MULTIPLE LISTING SERVICE

ACTIVE & CLOSED CONDOS PORTLAND, OR

Contact RMLS™ 8338 NE Alderwood Rd Suite 230 Portland, OR 97220 (503) 236-7657

This graph shows the number of active and closed condos in the Portland, Oregon, metropolitan area.

Active & Closed Condos 500 450 400

communications@rmls.com

350 300 250 200

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

150 100 50 0

Active Listings

RMLS™ was formed by area Boards and Associations of REALTORS® in 1991. 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™.

AFFORDABILITY PORTLAND, OR

This graph shows the affordability for housing in Portland, Oregon in December 2016. Affordability Index

200 180 160 140 120 100 80 60 40 20 0

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 Jun-12 Sep-12 Dec-12 Mar-13 Jun-13 Sep-13 Dec-13 Mar-14 Jun-14 Sep-14 Dec-14 Mar-15 Jun-15 Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16

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

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 ($73,300 in 2016, per HUD) can afford 112% of a monthly mortgage payment on a median priced home ($349,900 in December). The formula assumes that the buyer has a 20% down payment and a 30 year fixed rate of 4.20% (per Freddie Mac).

Jeff Wiren, Chairman of the Board Kurt von Wasmuth, President/CEO Tyler Chaudhary, Editor © Copyright RMLS™ 2017. All Rights Reserved.


1-2017 RMLS Market Action-HOUGHTEAM!