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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 Portland metro area market activity continued to grow over last month, but fell short of reaching March 2008 levels. Comparing March 2009 with the same month in 2008, closed sales dropped 30%. Pending sales also fell 15.5%. New listings decreased 28.5%. See residential highlights table below. On the other hand, when comparing March 2009 with February 2009, closed sales grew 38.2% (1,184 v. 857) and pending sales were up 28.3% (1,637 v. 1,276). New listings grew 6.2% (3,685 v. 3,471). Pending sales typically rise from February to March, but this year it increased at a steeper rate (28.3% in 2009 - vs. 5.5% in 2008 and 8.3% in 2007). See pending listings graph on page 4.

Change

2008

2009

Portland Metro Residential Highlights March

March 2009 Reporting Period

Inventory also dropped to 12 months, its lowest point since October 2008. Active residential listings in March numbered 14,158 - down slightly from 14,188 in February. This is notable, as active listings have typically grown over that same time frame (7% in 2008 and 6.6% in 2007). See active residential listings graph on page 3.

Sale Prices The average sale price for March 2009 was down 11.8% compared to March 2008, while the median sale price dropped 14%. See residential highlights table below.

Inventory in Months* 2007 2008 2009 January 6.2 12.8 19.2 February 5.2 10.4 16.6 March 3.8 9.1 12 April 4.4 10.3 May 4.5 9.2 June 5 9.5 July 5.7 10 August 6.2 9.9 September 8.6 10.4 October 8.4 11.1 November 8.3 15 December 8.5 14.1 *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.

Month-to-month, the average sale price and median sale price are both down when compared with February levels; the average sale price decreased a slight 0.5% ($297,000 v. $298,500) and the median sale price was down 4.9% ($246,400 v. $259,000).

New Listings

Pending Sales

Closed Sales

Average Sale Price

Percent Change of 12-Month Sale Price Compared With The Previous 12 Months Average Sale Price % Change: -5.7 ($325,300 v. $345,000) Median Sale Price % Change: -6% ($272,500 v. $289,900)*

Median Sale Price

Current Listing Market Time

Total Market Time

3,685

1,637

1,184

297,000

246,400

156

11,566

4,018

2,834

297,100

250,000

154

5,155

1,938

1,691

336,700

286,500

83

Year-to-date

14,695

5,282

4,285

339,400

282,300

84

March

-28.5%

-15.5%

-30.0%

-11.8%

-14.0%

N/A

N/A

Year-to-date

-21.3%

-23.9%

-33.9%

-12.5%

-11.4%

N/A

N/A

Year-to-date March

*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™ 2009. All Rights Reserved.


AREa REPORT • 3/2009 Metro Portland & Adjacent Regions, Oregon RESIDENTIAL

-25.5%

Year-To-Date

Average Sale Price

Closed Sales

Average Sale Price

Closed Sales

Average Sale Price

Closed Sales

2

Avg. Sale Price % Change

Median Sale Price

Average Sale Price

Closed Sales

Pending Sales 2009

New Listings

4

Total Market Time

Average Sale Price

Closed Sales

Pending Sales 2009

Pending Sales 2009 v. 2008

Expired/Canceled Listings

3

New Listings

Active Listings 141

82

Year-To-Date

68

216,600

114

477

193

-36.3%

132

232,000

229,600 -2.0%

1

7,500

6

163,600

2

192,300

1,027

355 204

180

-16.3% 117

290,000

130

1,064

430

-22.9%

303

296,000

260,000 -2.0%

2

201,500

3

139,200

10

477,800

SE Porltand

1,544

423 315

230

-17.6% 169

237,400

149

1,376

573

-24.2%

423

239,000

210,000 -5.1%

7

271,900

16

121,300

9

379,900

Gresham/ Troutdale

1,039

253 173

120

1.7%

75

231,100

144

816

274

-18.2%

168

225,000

213,000 -8.0% -

5

142,800

2

252,500

Milwaukie/ Clackamas

1,049

294 167

147

7.3%

92

292,000

137

877

330

-5.4%

215

292,200

259,000 -7.3%

1

300,000

7

164,100

1

267,500

Oregon City/ Canby

814

198 112

83

10.7%

60

291,900

171

627

190

-23.4%

142

287,000

250,000 -5.5%

2

247,500

7

290,600

4

235,600

Lake Oswego/ West Linn

1,003

242 149

61

-27.4%

56

481,600

141

703

158

-30.7%

125

491,500

390,000 -7.9%

1

535,000

2

280,000

W Portland

1,837

473 384

152

-29.6%

97

522,900

179

1,420

358

-38.1%

257

462,700

346,000 -1.7%

1

940,000

4

195,000

2

921,300

75

70

-32.7%

56

360,700

163

426

187

-23.7%

140

383,000

368,800 -4.1% -

-

4

207,000

2

239,000

149

148

143

NE Portland

144

99

Year-To-Date

145

141

MULTIFAMILY

146

486

LAND

147

142

N Portland

Pending Sales 2009 v. 2008

Year-To-Date

1

Current Month

COMMERCIAL

150

1,137

309 180

123

-24.5% 122

242,200

145

1,032

373

-23.3%

289

255,000

236,100 -5.0%

1

90,000

3

145,000

6

303,400

151

Tigard/ Wilsonville

1,213

307 322

133

-15.3% 100

335,800

226

1,063

325

-26.0%

230

322,300

315,000 -6.9%

1

80,000

6

99,200

2

1,612,500

Hillsboro/ Forest Grove

915

265 186

135

-2.9%

96

247,100

162

777

330

-9.3%

207

246,700

227,500 -8.2%

4

253,200

1

75,000

3

274,800

Mt. Hood

150

31

15

7

-41.7%

4

336,700

138

87

16

-55.6%

16

289,600

246,000 -4.8% -

-

Columbia Co.

513

120

67

38

-20.8%

24

160,400

178

297

96

-31.9%

62

171,000

168,500 -9.1% -

-

Yamhill Co.

876

147 126

76

-6.2%

48

233,700

160

524

185

-14.4%

125

249,000

220,000 -7.4%

Marion/Polk Counties

1,104

193 139

62

-16.2%

44

187,700

218

579

163 -30.6%

124

224,700

203,400

-4.8%

North Coastal Counties

1,528

231 161

48

-30.4%

36

283,500

117

747

121 -30.9%

91

294,000

249,900

-7.8%

156

155

153

Beaverton/ Aloha

152

127

-

168-178

555

-

180-195

NW Wash Co.

-

2

-

1

-

9

148,600

239,500

8

286,100

-

1

400,000

13

-

113,500

-

-

-

1

194,700

4

249,500

2 2,218,500

1

Percent change in number of pending sales this year compared to last year. The Current Month section compares March 2009 with March 2008. The Year-To-Date section compares year-to-date statistics from March 2009 with year-to-date statistics from March 2008.

2

% Change is based on a comparison of the rolling average sale price for the last 12 months (4/1/08-3/31 /09) with 12 months before (4/1/07-3/31/08).

3

As of October 2007, the way that New Listing data is generated has changed to ensure accuracy.

4

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™ 2009. All Rights Reserved.


ACTIVE RESIDENTIAL LISTINGS

Active Residential Listings 20000 18000

Portland, OR

16000

This graph shows the active

14000 12000

residential listings over the

10000

past three calendar years

8000 6000

in the greater Portland,

4000

Oregon metropolitan area.

2000

2008

be r

D ec

em

em

N ov

S 2007

be r

er

be

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t ep te m

A

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0

2009

TOTAL ACTIVE LISTINGS

Total Active Listings 25000

PORTLAND, OR

This graph shows the

20000

total active listings over

15000

the past three calendar

10000

years in the greater 5000

Portland, Oregon

Total Active Listings 2007

Total Active Listings 2008

be r em

D ec

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be r

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0

metropolitan area.

Total Active Listings 2009

NEW LISTINGS

New Listings

PORTLAND, OR

7,000

This graph shows the

6,000

new residential listings

5,000

over the past three

4,000

calendar years in the

3,000

greater Portland, Oregon

2,000

metropolitan area.

1,000

2007

2008

be r em

D ec

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O ct ob

N ov

S

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be

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0

2009

3

© Copyright RMLS™ 2009. 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

metropolitan area over

1,500

the past three calendar

1,000

years.

500

2008

be r em

D ec

em

N ov

S 2007

be r

er

O ct ob

be

r

t ep te m

A

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Ju ly

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0

2009

CLOSED SALES

Closed Sales

PORTLAND, OR 3,000

This graph shows the

2,500

closed sales over the past

2,000

three calendar years in the greater Portland,

1,500

Oregon metropolitan

1,000 500

area.

2007

2008

be r em

D ec

em

be r

er N ov

O ct ob

be

r

t S

ep te m

A

ug us

Ju ly

Ju ne

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0

2009

DAYS ON MARKET

Average Market Time 180 160

This graph shows the

140

average market time for

120

sales in the Portland,

100

Oregon metropolitan area.

80 60

*As of August 2008, graph

40

now reports “Total Days

20 0

2007

2008

2008 TMT

be r em

D ec

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be r

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on Market” - for details

2009 TMT

4

© Copyright RMLS™ 2009. All Rights Reserved.

read footnotes on page 2.


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 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000

M

ar -

S 99 ep -9 M 9 ar S 00 ep -0 M 0 ar S 01 ep -0 M 1 ar S 02 ep -0 M 2 ar S 03 ep -0 M 3 ar S 04 ep -0 M 4 ar S 05 ep -0 M 5 ar S 06 ep -0 M 6 ar S 07 ep -0 M 7 ar S 08 ep -0 M 8 ar -0 9

$0

Average Sale Price

MEDIAN SALE PRICE

Median Sale Price: Portland, OR & Clark Co., WA 350000

PORTLAND, OR

300000 250000

This graph shows the

200000

median sale price over the past 12 months in the

150000

greater Portland, Oregon

100000

metropolitan area and

50000

Clark County,

0 JAN

FEB

MAR

APR

MAY

JUNE JULY

Clark County

AUG

SEPT

OCT

NOV

Metro Portland, OR

5

© Copyright RMLS™ 2009. All Rights Reserved.

DEC

Washington.


Median sale price March 2009

SW Washington

$226,400

$350,000

Woodland

N/NE Clark County

$211,000 $339,000

Battle Ground

Ridgefield/La Center

Portland $165,000 Columbia County

Metro

$267,500 Salmon Creek

$253,500 Brush Prairie Hockinson

$208,300 Felida

$204,000 Hazel Dell Minnehaha

$350,000 North Washington County Sauvie Island

5 Corners Orch.

$139,900 Cent. Vancouver

$226,800 Beaverton Aloha

$315,000 Tigard/Tualatin Sherwood Wilsonville

$360,000 West Portland

$223,000 Cascade Park

$188,000 Heights

$225,500 N Portland

$226,800 Hillsboro Forest Grove

$184,000

$285,200 Camas/Washougal $255,000 NE Portland $204,500 SE Portland $256,200

$377,000

Milwaukie/Gladstone/ Boring/Clackamas Estacada

Lake Oswego West Linn

$210,000 $250,000 Oregon City Canby Molalla Beavercreek

Yamhill County

6

Š Copyright RMLS™ 2009. All Rights Reserved.

$210,000 Gresham Troutdale Sandy Corbett Fairview

$280,000 Mt. Hood: Zigzag Welches Rhododendron Wemme Brightwood Government Camp


MULTIPLE LISTING SERVICE

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

$200,000 $150,000 $100,000 $50,000

QUARTERLY CLOSINGS PORTLAND, OR

De

ce m be r

er ve m be r No

ct ob

r

2008

O

te m be

us t

y

2009

Au g

Ju l

e Ju n

M ay

Ap r

ch M ar

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$0

Se p

Douglas County Oregon 1299 NW Ellan, Suite 3 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

$250,000

ry

Lane County: Florence PO Box 414 Florence, OR 97439 (541) 902-2560 Fax: (541) 902-1341

Portland, Oregon metropolitan area.

$300,000

ua

Lane County: Eugene 2139 Centennial Plaza Eugene, OR 97401 (541) 686-2885 Fax: (541) 484-3854

condos sold in the last three calendar years in the

Median Condo Sale Price

Fe br

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

PORTLAND, OR

ua ry

Southwest Washington 1514 Broadway, Suite 101 Vancouver, WA 98663 (360) 696-0718 Fax: (360) 696-9342

MEDIAN SALE PRICE CONDOS

Ja n

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

2007

This graph shows the number of quarterly closings in the Portland, Oregon metropolitan area. Quarterly Closings

12000 10000 8000 6000 4000 2000

The statistics presented in Market Action are compiled monthly based on figures generated by RMLS™. Statistics reflect reported activity for the greater Portland, Oregon metropolitan area, to include Multnomah, Washington, Clackamas, Yamhill, & Columbia counties; Lane, Douglas, Coos & Curry Counties in Oregon; portions of other Oregon Counties; and Clark, Cowlitz & Pacific Counties in Washington. 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™.

0 '01

'02

'03 1st Quarter

'04

'05

2nd Quarter

'06 3rd Quarter

'07

'08

09

4th Quarter

FIRST QUARTER REPORT: Comparing the first quarter of 2009 with that of 2008, closed saled dropped 33.9% (2,834 v. 4,285). Pending sales decreased 23.9% (4,018 v. 5,282). New listings also fell 21.3% (11,566 v. 14,695).

Gary Taylor, Chairman of the Board Beth Murphy, President Kurt von Wasmuth, Senior Vice President Natalie Middleton, Editor Joel Weiler, Assistant Editor © Copyright RMLS™ 2009. All Rights Reserved.


Portland-Metro March 2009 Real Estate Stats