2020 Mid Year Portland Market Report

PORTLAND AREA Mid Year Market Report January 1 - June 30 2019 vs. 2020 Portland Metro

Beaverton

Tualatin

NW Portland

Gresham

Tigard

NE Portland

Hillsboro

Wilsonville

SW Portland

Oregon City

West Linn

SE Portland

Lake Oswego

COVID-19 Has Driven More Buyers To View Homes and Make Key Decisions Online

SothebysRealty.com is available in 18 languages.

The site’s unique editorial style showcases each home’s character. Millions of viewers immerse themselves in our collection of high-definition video and images.

Once a home is showcased on SothebysRealty.com, it is exclusively marketed on more than 100 Sotheby’s International Realty affiliate websites around the world.

SothebysRealty.com attracted 34 million visitors in 2019

The right online marketing strategy is now even more important

Both Our Global and Regional Web Sites Are Attracting More Visitors Than Ever Before

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Buyers can find a broker to work with, review market reports, learn interesting details about communities, and sign up to receive automatic email alerts of new properties as soon as they hit the market.

28%

INCREASED WEB TRAFFIC*

Visitors to CascadeSothebysRealty.com from the following states have increased.*

46% 38% 28% 19% 17%

Washington California Oregon Texas Arizona

Our powerful global network allows us to market properties to and recieve buyer referrals from 23,000 agents working in 1,000 offices around the world

32%

SEARCHES FOR PROPERTIES OVER 5 ACRES*

Searches for farms, ranches and vineyards have significantly increased

*1/1/20 to 6/30/20 compared to same period in 2019

MID YEAR MARKET REPORT

Portland Metro Portland Metro includes: NW Portland, NE Portland, SW Portland, SE Portland, Beaverton, Gresham, Hillsboro, Lake Oswego, Oregon City, Tigard, Tualatin, West Linn, Wilsonville ALL RESIDENTIAL

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

4899

4391

Total Sold Volume

$2,373,545,000

$2,168,324,000

-8.65%

Median Sales Price

$420,500

$435,000

$14,500

Average Days on Market

41

41

RESIDENTIAL WITH ACREAGE

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

42

33

Total Sold Volume

$46,008,000

$35,308,000

-23.26%

Median Sales Price

$925,000

$996,000

$71,000

Average Days on Market

84

61

( > 1 ACRE )

TOWNHOMES & CONDOS

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

140

134

Total Sold Volume

$100,973,000

$102,056,000

Median Sales Price

$569,737

$608,750

Average Days on Market

57

52

COMPARISON

-508

-

COMPARISON

-9

-23

COMPARISON

-6 1.07% $39,013 -5

*From RMLS data JANUARY 1 2019 - JUNE 30 2019 vs JANUARY 1 2020 – JUNE 30 2020 Cascade Sotheby’s International Realty is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information provided is “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.

MID YEAR MARKET REPORT

NW Portland County: Multnomah

ALL RESIDENTIAL

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

546

469

Total Sold Volume

$298,329,000

$263,516,000

Median Sales Price

$549,500

$527,000

Average Days on Market

46

37

RESIDENTIAL WITH ACREAGE

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

7

13

Total Sold Volume

$5,910,000

$12,974,000

119.53%

Median Sales Price

$850,000

$820,000

-$30,000

Average Days on Market

45

82

( > 1 ACRE )

COMPARISON

-77 -11.67% -$22,500 -9

COMPARISON

6

37

TOWNHOMES & CONDOS

2019 JANUARY – JUNE

2020 JANUARY – JUNE

COMPARISON

Total Units Sold

2

1

Total Sold Volume

$1,225,000

$520,000

-57.55%

Median Sales Price

$612,500

$520,000

-$92,500

Average Days on Market

8

17

-1

9

*From RMLS data JANUARY 1 2019 - JUNE 30 2019 vs JANUARY 1 2020 – JUNE 30 2020 Cascade Sotheby’s International Realty is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information provided is “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.

MID YEAR MARKET REPORT

NE Portland

County: Multnomah

ALL RESIDENTIAL

2019 JANUARY – JUNE

2020 JANUARY – JUNE

COMPARISON

Total Units Sold

1246

1099

Total Sold Volume

$593,437,000

$529,286,000

-10.81%

Median Sales Price

$428,000

$431,375

$3,375

Average Days on Market

37

37

TOWNHOMES & CONDOS

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

31

35

Total Sold Volume

$21,935,000

$760,499,000

Median Sales Price

$707,575

$725,000

Average Days on Market

65

39

-147

-

COMPARISON

4 3367.06% $17,425 -26

*From RMLS data JANUARY 1 2019 - JUNE 30 2019 vs JANUARY 1 2020 – JUNE 30 2020 Cascade Sotheby’s International Realty is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information provided is “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.

MID YEAR MARKET REPORT

SW Portland County: Multnomah

ALL RESIDENTIAL

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

1348

1184

Total Sold Volume

$807,051,000

$715,803,000

-11.31%

Median Sales Price

$525,000

$540,000

$15,000

Average Days on Market

52

53

RESIDENTIAL WITH ACREAGE

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

35

28

Total Sold Volume

$42,530,000

$32,322,000

Median Sales Price

$1,080,000

$1,020,000

Average Days on Market

85

62

TOWNHOMES & CONDOS

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

15

18

Total Sold Volume

$9,706,000

$13,896,000

Median Sales Price

$595,000

$625,000

Average Days on Market

52

42

( > 1 ACRE )

COMPARISON

-164

1

COMPARISON

-7 -24% -$60,000 -23

COMPARISON

3 43.17% $30,000 -10

*From RMLS data JANUARY 1 2019 - JUNE 30 2019 vs JANUARY 1 2020 – JUNE 30 2020 Cascade Sotheby’s International Realty is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information provided is “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.

MID YEAR MARKET REPORT

SE Portland

County: Multnomah

ALL RESIDENTIAL

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

1668

1509

Total Sold Volume

$704,091,000

$664,869,000

-5.57%

Median Sales Price

$375,000

$390,000

$15,000

Average Days on Market

38

37

RESIDENTIAL WITH ACREAGE

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

6

5

Total Sold Volume

$3,119,000

$2,986,000

Median Sales Price

$507,500

$735,000

Average Days on Market

87

53

TOWNHOMES & CONDOS

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

77

61

Total Sold Volume

$56,716,000

$42,243,000

-25.52%

Median Sales Price

$565,000

$535,000

-$30,000

Average Days on Market

57

49

( > 1 ACRE )

COMPARISON

-159

-1

COMPARISON

-1 -4.26% $227,500 -34

COMPARISON

-16

-8

*From RMLS data JANUARY 1 2019 - JUNE 30 2019 vs JANUARY 1 2020 – JUNE 30 2020 Cascade Sotheby’s International Realty is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information provided is “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.

MID YEAR MARKET REPORT

Beaverton Zip Codes: 97005, 97007, 97075, 97077, 97225, 97006, 97008, 97076, 97223, 97229 Population: 97,514 County: Washington ALL RESIDENTIAL

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

1135

1075

Total Sold Volume

$465,119,000

$458,109,000

Median Sales Price

$396,000

$415,000

Average Days on Market

32

34

RESIDENTIAL WITH ACREAGE

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

7

10

Total Sold Volume

$6,733,000

$9,097,000

Median Sales Price

$800,500

$875,000

Average Days on Market

209

59

TOWNHOMES & CONDOS

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

18

9

Total Sold Volume

$17,320,000

$11,037,000

-36.28%

Median Sales Price

$543,000

$480,000

-$63,000

Average Days on Market

15

41

( > 1 ACRE )

COMPARISON

-60 -1.51% $19,000 2

COMPARISON

3 35.11% $74,500 -150

COMPARISON

-9

26

*From RMLS data JANUARY 1 2019 - JUNE 30 2019 vs JANUARY 1 2020 – JUNE 30 2020 Cascade Sotheby’s International Realty is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information provided is “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.

MID YEAR MARKET REPORT

Gresham Zip Codes: 97030, 97080, 97233 Population: 111,053 County: Multnomah

ALL RESIDENTIAL

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

518

543

Total Sold Volume

$186,152,000

$200,366,000

Median Sales Price

$350,000

$365,550

Average Days on Market

41

48

RESIDENTIAL WITH ACREAGE

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

13

11

Total Sold Volume

$7,618,000

$6,644,000

-12.79%

Median Sales Price

$602,000

$655,000

$53,000

Average Days on Market

93

132

TOWNHOMES & CONDOS

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

9

8

Total Sold Volume

$3,794,000

$3,434,000

Median Sales Price

$379,500

$369,500

Average Days on Market

46

76

( > 1 ACRE )

COMPARISON

25 7.64% $15,550 7

COMPARISON

-2

39

COMPARISON

-1 -9.49% -$10,000 30

*From RMLS data JANUARY 1 2019 - JUNE 30 2019 vs JANUARY 1 2020 – JUNE 30 2020 Cascade Sotheby’s International Realty is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information provided is “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.

MID YEAR MARKET REPORT

Hillsboro Zip Codes: 97123, 97124, 97006 Population: 106,894 County: Washington

ALL RESIDENTIAL

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

634

760

Total Sold Volume

$263,105,000

$328,030,000

24.68%

Median Sales Price

$385,000

$406,000

$21,000

Average Days on Market

32

38

RESIDENTIAL WITH ACREAGE

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

33

24

Total Sold Volume

$26,775,000

$18,510,000

-30.87%

Median Sales Price

$774,450

$769,950

-$4,500

Average Days on Market

81

58

TOWNHOMES & CONDOS

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

5

7

Total Sold Volume

$2,201,000

$3,859,000

Median Sales Price

$426,000

$550,000

Average Days on Market

35

44

( > 1 ACRE )

COMPARISON

126

6

COMPARISON

-9

-23

COMPARISON

2 75.33% $124,000 9

*From RMLS data JANUARY 1 2019 - JUNE 30 2019 vs JANUARY 1 2020 – JUNE 30 2020 Cascade Sotheby’s International Realty is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information provided is “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.

MID YEAR MARKET REPORT

Lake Oswego Zip Codes: 97034, 97035 Population: 39,196 Counties: Clackamas, Multnomah, Washington

ALL RESIDENTIAL

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

446

338

Total Sold Volume

$325,929,000

$264,664,000

-18.80%

Median Sales Price

$602,800

$637,000

$34,200

Average Days on Market

48

56

RESIDENTIAL WITH ACREAGE

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

6

5

Total Sold Volume

$10,239,000

$10,245,000

0.06%

Median Sales Price

$1,450,000

$1,930,000

$480,000

Average Days on Market

47

204

( > 1 ACRE )

COMPARISON

-108

8

COMPARISON

-1

157

TOWNHOMES & CONDOS

2019 JANUARY – JUNE

2020 JANUARY – JUNE

COMPARISON

Total Units Sold

2

1

Total Sold Volume

$4,226,000

$805,000

-80.95%

Median Sales Price

$2,112,750

$805,000

-$1,307,750

Average Days on Market

58

64

-1

6

*From RMLS data JANUARY 1 2019 - JUNE 30 2019 vs JANUARY 1 2020 – JUNE 30 2020 Cascade Sotheby’s International Realty is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information provided is “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.

MID YEAR MARKET REPORT

Oregon City Zip Codes: 97054 Population: 36,360 County: Clackamas

ALL RESIDENTIAL

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

444

384

Total Sold Volume

$205,205,000

$181,593,000

-11.51%

Median Sales Price

$434,950

$450,000

$15,050

Average Days on Market

41

49

RESIDENTIAL WITH ACREAGE

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

76

65

Total Sold Volume

$51,989,000

$42,454,000

-18.34%

Median Sales Price

$589,500

$629,900

$40,400

Average Days on Market

67

69

TOWNHOMES & CONDOS

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

7

4

Total Sold Volume

$3,252,000

$1,887,000

-41.97%

Median Sales Price

$437,000

$421,250

-$15,750

Average Days on Market

17

12

( > 1 ACRE )

COMPARISON

-60

8

COMPARISON

-11

2

COMPARISON

-3

-5

*From RMLS data JANUARY 1 2019 - JUNE 30 2019 vs JANUARY 1 2020 – JUNE 30 2020 Cascade Sotheby’s International Realty is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information provided is “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.

MID YEAR MARKET REPORT

Tigard Zip Codes: 97223, 97224, 97281 Population: 53,148 County: Washington

ALL RESIDENTIAL

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

493

462

Total Sold Volume

$223,054,000

$218,168,000

-2.19%

Median Sales Price

$439,900

$464,000

$24,100

Average Days on Market

35

37

RESIDENTIAL WITH ACREAGE

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

3

5

Total Sold Volume

$2,475,000

$2,947,000

Median Sales Price

$735,000

$583,000

Average Days on Market

128

84

TOWNHOMES & CONDOS

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

4

3

Total Sold Volume

$2,222,000

$1,802,000

-18.90%

Median Sales Price

$495,920

$420,000

-$75,920

Average Days on Market

16

39

( > 1 ACRE )

COMPARISON

-31

2

COMPARISON

2 19.07% -$152,000 -44

COMPARISON

-1

23

*From RMLS data JANUARY 1 2019 - JUNE 30 2019 vs JANUARY 1 2020 – JUNE 30 2020 Cascade Sotheby’s International Realty is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information provided is “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.

MID YEAR MARKET REPORT

Tualatin Zip Codes: 97062 Population: 27,478 Counties: Washington, Clackamas

ALL RESIDENTIAL

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

180

149

Total Sold Volume

$86,630,000

$77,648,000

-10.37%

Median Sales Price

$475,000

$500,000

$25,000

Average Days on Market

35

28

RESIDENTIAL WITH ACREAGE

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

10

12

Total Sold Volume

$8,000,000

$12,861,000

60.76%

Median Sales Price

$685,000

$1,054,000

$369,000

Average Days on Market

60

51

TOWNHOMES & CONDOS

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

1

1

Total Sold Volume

$520,000

$650,000

25%

Median Sales Price

$520,000

$649,900

$129,900

Average Days on Market

8

10

( > 1 ACRE )

COMPARISON

-31

-7

COMPARISON

2

-9

COMPARISON

0

2

*From RMLS data JANUARY 1 2019 - JUNE 30 2019 vs JANUARY 1 2020 – JUNE 30 2020 Cascade Sotheby’s International Realty is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information provided is “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.

MID YEAR MARKET REPORT

West Linn Zip Codes: 97068 Population: 26,703 County: Clackamas

ALL RESIDENTIAL

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

293

229

Total Sold Volume

$173,718,000

$14,067,900

-91.90%

Median Sales Price

$559,000

$565,000

$6,000

Average Days on Market

54

52

RESIDENTIAL WITH ACREAGE

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

27

14

Total Sold Volume

$29,050,000

$19,415,000

-33.17%

Median Sales Price

$950,000

$1,205,000

$255,000

Average Days on Market

128

137

TOWNHOMES & CONDOS

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

0

1

1

Total Sold Volume

-

$500,000

-

Median Sales Price

-

$500,000

-

Average Days on Market

-

141

-

( > 1 ACRE )

COMPARISON

-64

-2

COMPARISON

-13

9

COMPARISON

*From RMLS data JANUARY 1 2019 - JUNE 30 2019 vs JANUARY 1 2020 – JUNE 30 2020 Cascade Sotheby’s International Realty is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information provided is “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.

MID YEAR MARKET REPORT

Wilsonville Zip Codes: 97070 Population: 24,058 Counties: Clackamas, Washington

ALL RESIDENTIAL

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

242

198

Total Sold Volume

$120,064,000

$103,635,000

-13.68%

Median Sales Price

$465,000

$471,000

$6,000

Average Days on Market

50

41

RESIDENTIAL WITH ACREAGE

2019 JANUARY – JUNE

2020 JANUARY – JUNE

Total Units Sold

5

7

Total Sold Volume

$7,275,000

$9,873,000

35.71%

Median Sales Price

$965,000

$1,017,500

$52,500

Average Days on Market

49

53

( > 1 ACRE )

COMPARISON

-44

-9

COMPARISON

2

4

*From RMLS data JANUARY 1 2019 - JUNE 30 2019 vs JANUARY 1 2020 – JUNE 30 2020 Cascade Sotheby’s International Realty is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information provided is “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.

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Our Offices OREGON COAST

PORTLAND AREA

CENTRAL OREGON

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Pearl District

Bend - Downtown

587 Pacific Way, PO Box 2300

1321 NW Hoyt St

821 NW Wall Street

Gearhart, OR 97138

Portland, OR 97209

Bend, OR 97702

Cannon Beach

NE Portland

Bend - Old Mill (HQ)

130 North Hemlock, Suite 1

2236 NE Broadway St

650 SW Bond Street, Suite 100

Cannon Beach, OR 97110

Portland, OR 97232

Bend, OR 97702

Vancouver WA

Sisters

900 Washington Street Suite 150

290 East Cascade Avenue,

Vancouver, WA 98660

PO Box 609

Manzanita 467 Laneda Avenue, Box 820 Manzanita, OR 97130

Sisters, OR 97759

Lincoln City 1831 SW HWY 101 Lincoln City, OR 97367

Lake Oswego 310 N. State Street, Suite 102

Sunriver

Lake Oswego, OR 97034

57100 Beaver Drive, Building 5, Suite 150

Beaverton

Sunriver, OR 97707

8880 SW Nimbus Ave, Suite C Beaverton, OR 97008

COLUMBIA RIVER GORGE Hood River 116 3rd St, Suite 209 Hood River, OR 97031

Joe and Stephanie Reitzug

Serving Oregon & SW Washington for over 25 years

This 2019 Home Market Report is for illustrative and informative purposes only and is not an offer to perform professional real estate services or marketing. The information contained in the report is not a representation or guarantee regarding future profits or income related to real estate, and the information contained in this report should not be solely relied upon to conduct real estate activity. Cascade Sotheby’s International Realty makes no representation, warranty, or guaranty as to accuracy of any information contained in the Report and encourages you to always consult with a trusted real estate, legal, and tax professional for independent verification.