Page 1

A Publication of RMLS™, The Source for Real Estate Statistics in Your Community Residential Review: Metro Portland, Oregon March Residential Highlights New listings in the Portland metro area saw a slight gain compared to last year this March. At 3,648 for the month, new listings edged 1.2% over the 3,604 new listings offered last year in March 2017 and were 44.2% warmer than last month in February 2018 (2,530). This was the best March for new listings in the area since 2010, when 4,987 new listings were offered. Closed sales (2,371) were 4.9% cooler than the 2,494 closings recorded in March 2017 but ended 31.3% warmer than the 1,806 closings recorded last month in February 2018.

March 2018 Reporting Period

Inventory in the Portland metro area decreased slightly to 1.6 months in March, with total market time decreasing to 55 days. There were 3,844 active residential listings in the metro area in March.

Average and Median Sale Prices Comparing the average price of homes sold in the twelve months ending March 31st of this year ($435,000) with the average price of homes in the twelve months ending March 2017 ($404,200) shows an increase of 7.6%. In the same comparison, the median has increased 8.8% from $353,800 to $385,000.

2018 2017 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

Pending sales fared similarly, cooling 4.9% from March 2017 (3,043) despite a 23.8% increase over the 2,337 offers accepted last month in February 2018. Portland Metro Residential Highlights

Inventory in Months* 2016 2017 2018 January 1.8 1.7 2.2 February 1.8 1.9 1.9 March 1.3 1.3 1.6 April 1.4 1.7 May 1.4 1.5 June 1.5 1.6 July 1.9 2.1 August 1.9 2.0 September 2.0 2.3 October 2.0 2.1 November 1.8 1.9 December 1.3 1.6

Average Sale Price % Change: +7.6% ($435,000 v. $404,200) Median Sale Price % Change: +8.8% ($385,000 v. $353,800)

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

March

3,648

2,894

2,371

445,900

395,000

55

February

2,530

2,337

1,806

441,900

385,000

69

Year-to-date

8,736

7,381

5,956

442,100

390,200

61

March

3,604

3,043

2,494

428,400

370,000

58

Year-to-date

8,413

7,250

6,166

415,500

359,900

59

March

1.2%

-4.9%

-4.9%

4.1%

6.8%

-5.0%

Prev Mo 2018

44.2%

23.8%

31.3%

0.9%

2.6%

-20.3%

Year-to-date

3.8%

1.8%

-3.4%

6.4%

8.4%

3.1%

© Copyright RMLS™ 2018. All Rights Reserved.


AREA REPORT • 3/2018

Portland Metropolitan Area, Oregon RESIDENTIAL

COMMERCIAL

LAND

MULTIFAMILY

Year-To-Date

Year-To-Date

Year-To-Date

6.6%

5

492,300

7

334,400

8

972,700

NE Portland

307

350

60

248

-4.6%

207

478,900

56

743

623

3.7%

525

464,100

415,000

7.3%

9

384,900

14

325,400

22

756,000

SE Portland

393

410

68

314

-18.2%

283

418,600

51

958

846

-6.6%

729

407,400

360,000

8.4%

8

474,100

11

280,800

30

744,800

144

Gresham/ Troutdale

212

217

35

203

18.7%

165

356,400

45

536

509

14.4%

408

351,200

337,200

12.0%

6

641,100

14

229,100

11

369,800

145

Milwaukie/ Clackamas

332

297

58

222

-8.3%

188

423,400

61

727

610

8.3%

507

422,000

399,900

9.4%

4

734,100

15

259,800

7

454,600

146

Oregon City/ Canby

214

194

26

173

10.9%

133

396,500

47

471

396

0.3%

304

397,000

366,000

6.0%

4

291,200

17

548,400

5

483,200

147

Lake Oswego/ West Linn

306

225

52

188

31.5%

117

631,100

82

535

405

16.4%

307

652,800

580,000

6.1%

1

615,000

6

440,100

3

828,300

W Portland

654

450

103

272

-22.1%

217

597,200

60

998

684

-12.6%

551

601,600

510,000

3.1%

1

866,500

9

112,700

3

536,300

NW Wash Co.

185

201

24

171

18.8%

119

550,200

61

483

423

15.6%

324

543,200

523,000

7.5%

9

331,000

150

Beaverton/ Aloha

160

277

27

240

-1.2%

233

386,000

39

722

664

10.9%

539

378,600

368,000

9.1%

2

175,000

4

666,600

Tigard/ Wilsonville

313

317

30

269

-13.2%

242

456,700

56

852

736

5.0%

583

444,900

420,000

7.4%

13

547,600

3

526,500

Hillsboro/ Forest Grove

189

242

31

203

-14.0%

148

403,800

45

564

500

-10.1%

380

393,500

365,000

9.9%

15

352,700

10

394,000

41

18

5

16

-5.9%

11

360,800

90

49

46

4.5%

38

324,400

305,400

14.1%

11

77,500

1

536,500

Columbia Co.

152

111

15

93

-1.1%

81

301,700

70

299

244

22.0%

187

298,700

290,000

11.8%

1

179,000

26

206,400

1

265,900

Yamhill Co.

238

170

29

156

-4.3%

133

373,300

68

436

386

-11.3%

315

361,200

319,000

10.6%

2

414,500

17

510,000

10

263,600

142 143 148 149 153 155 156 1

-

Pending Sales

New Listings

Total Market Time

Closed Sales -

3 -

231,000 -

3 -

388,300 -

Average Sale Price

400,000

Closed Sales

431,400

Average Sale Price

259

Average Sale Price

0.3%

Closed Sales

309

Avg. Sale Price % Change2

363

Median Sale Price

54

Average Sale Price

438,700

Closed Sales

94

Mt. Hood

Pending Sales 2018 v. 20171

-3.8%

3

Pending Sales 2018 v. 20171

126

Average Sale Price

Pending Sales

23

Closed Sales

New Listings 169

Expired.Canceled Listings

Active Listings 148

141

N Portland

151

Year-To-Date

152

Current Month

-

-

Percent change in number of pending sales this year compared to last year. The Current Month section compares March 2018 with March 2017. The YearTo-Date section compares 2018 year-to-date statistics through March with 2017 year-to-date statistics through March.

2

% Change is based on a comparison of the rolling average sale price for the last 12 months (4/1/17-3/31/18) with 12 months before (4/1/16-3/31/17).

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™ 2018. 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 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 3,109 3,313 3,753 4,325 5,211 5,785 5,940 5,998 5,415 4,596 3,771 2018 3,518 3,441 3,844

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 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 4,315 4,553 5,006 5,656 6,626 7,239 7,400 7,430 6,855 6,026 5,022 2018 4,774 4,746 5,163

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.

2016

2017

2018

3

© Copyright RMLS™ 2018. 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

2016

2017

2018

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 2014

2,000

2015

1,500

2016

1,000

2017

500

2018

0

DAYS ON MARKET

Average Total Market Time 80

PORTLAND, OR

70

This graph shows the

60

average market time for

50

sales in the Portland,

40

Oregon metropolitan area

30

over the past three calendar

20

years. 2016 TMT

2017 TMT

2018 TMT

4

© Copyright RMLS™ 2018. 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 $475,000 $425,000 $375,000 $325,000 $275,000

Average Sale Price

Mar-18

Dec-17

Sep-17

Jun-17

Mar-17

Dec-16

Sep-16

Jun-16

Mar-16

Dec-15

Jun-15

Sep-15

Mar-15

Dec-14

Sep-14

Jun-14

Mar-14

Dec-13

Jun-13

Sep-13

Mar-13

Dec-12

Sep-12

Jun-12

Mar-12

Dec-11

Sep-11

Jun-11

Mar-11

Dec-10

Jun-10

Sep-10

$175,000

Mar-10

$225,000

Median Sale Price

MEDIAN SALE PRICE

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

PORTLAND, OR

$450,000 $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

Oregon, metropolitan

$100,000

MAR

APR

MAY

JUN

JUL

AUG

Clark County

SEP

OCT

NOV

DEC

JAN

Metro Portland, OR

5

© Copyright RMLS™ 2018. All Rights Reserved.

FEB

MAR

area and Clark County.


MEDIAN SALE PRICE March 2018

SW WASHINGTON

$349,900

$385,000

Woodland

N/NE Clark County

PORTLAND

$311,000 $405,000

Battle Ground

Ridgefield/La Center

METRO

$ 286,700 Columbia County $471,500 Salmon Creek $364,000 Felida

$ 490,800 North Washington County Sauvie Island

Brush Prairie Hockinson

$306,500 Hazel Dell Minnehaha

$302,300 5 Corners Orch.

$288,300 Cent. Vancouver

$ 375,000 Beaverton

$ 520,000 West Portland

Aloha

$ 425,000 Tigard/Tualatin Sherwood Wilsonville

$414,500 Camas/Washougal $ 440,000 NE Portland $ 356,300 SE Portland $ 399,000

$ 563,300

Milwaukie/Gladstone/ Boring/Clackamas Estacada

Lake Oswego West Linn

$ 330,000 $ 370,000 Oregon City Canby Molalla Beavercreek

Yamhill County

6

$320,000 Cascade Park

$339,400 Heights

$ 410,000 N Portland

$ 371,200 Hillsboro Forest Grove

$352,300

© Copyright RMLS™ 2018. All Rights Reserved.

$ 339,900 Gresham Troutdale Sandy Corbett Fairview

$ 325,000 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 communications@rmls.com

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

Active & Closed Condos 600 500 400 300

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

200 100 0

Active Listings

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.

MEDIAN SALE PRICE CONDOS PORTLAND, OR

Closed Sales

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

$300,000 $275,000 $250,000 $225,000 $200,000 $175,000 $150,000

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™.

$125,000

2016

2017

2018

Lori Palermo, Chairwoman of the Board Kurt von Wasmuth, President/CEO Tyler Chaudhary, Editor © Copyright RMLS™ 2018. All Rights Reserved.

Portland Metro March Market Action  

The March Portland Metro Area Market Action Report is now available!

Portland Metro March Market Action  

The March Portland Metro Area Market Action Report is now available!

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