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A Publication of RMLS™, The Source for Real Estate Statistics in Your Community Residential Review: Metro Portland, Oregon December Highlights The Portland real estate market ended a remarkable year with mixed results in December. Closed sales at 1,760 were higher than the previous December’s 1,612 by 9.2%, while pending sales were 4.1% under the 1,443 accepted offers in the same month of the prior year. New listings dried up, with only 1,286 entered, 24.4% under the 1,700 published in December 2011. The active inventory dropped to a new low of 6,352 homes on the market, resulting in the lowest inventory in months this year at 3.6.

December 2012 Reporting Period

closed sales in 2012. Compared to the same period last year, new listings are down by 5.2% from the 2011 listing count of 34,084. Pending sales are up 16.2% from 20,670 last year. Closed sales are up 19.1% from 19,682. Prices are higher. The average sale price in 2012 was $275,000, 4.4% higher than the average price of $263,300 in 2011, while the 2012 median sale price of $235,000 was 6.3% higher than the 2011 median of $221,000.

Total market time dropped 21.5% from 143 days last year to 112 days Both the median and average in 2012. sale prices showed double digit The average price increase and improvement, with the median rising the improved number of sales has 14.5% December to December, and resulted in a healthy increase in the the average rising 11.3%. total dollar volume of sales, which rose to $6.45 billion in 2012 from 2012 Summary There were 32,300 new listings, $5.2 billion in 2011 and $5.3 billion 24,010 accepted offers, and 23,438 in 2010.

2012

Portland Metro Residential Highlights

2011

Pending Sales

Closed Sales

Average Sale Price

*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. This includes proposed and under construction homes.

Percent Change of 12-Month Sale Price Compared With The Previous 12 Months Average Sale Price % Change: +4.4% ($275,000 v. $263,300) Median Sale Price % Change: +6.3% ($235,000 v. $221,000)

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

Median Sale Price

Total Market Time

December

1,286

1,384

1,760

290,200

247,900

111

November

1,675

1,730

1,733

279,400

241,000

101

32,300

24,010

23,438

275,000

235,000

112

1,700

1,443

1,612

260,800

216,600

142

Year-to-date

34,084

20,670

19,682

263,300

221,000

143

December

-24.4%

-4.1%

9.2%

11.3%

14.5%

-21.4%

Prev Mo 2012

-23.2%

-20.0%

1.6%

3.9%

2.9%

9.9%

-5.2%

16.2%

19.1%

4.4%

6.3%

-21.5%

Year-to-date

Change

New Listings

Inventory in Months* 2010 2011 2012 January 12.6 11.3 7.0 February 12.9 10.9 6.5 March 7.8 7.1 5.0 April 7.3 7.2 4.7 May 7.0 6.8 4.2 June 7.3 6.0 3.9 July 10.8 7.0 4.6 August 11.0 6.2 3.9 September 10.5 6.7 4.6 October 10.7 6.8 3.8 November 10.2 6.2 4.2 December 7.9 5.3 3.6

December

Year-to-date

© Copyright RMLS™ 2012. All Rights Reserved.


AREA REPORT • 12/2012 Portland Metropolitan Area, Oregon RESIDENTIAL

Year-To-Date

Year-To-Date

Year-To-Date

2

Avg. Sale Price % Change

229,900

220,000

3.4%

10

402,800

49

143,300

35

411,600

NE Portland

393

116

106

139

-1.4%

169

287,900

74

3,076

2,416

17.3%

2,378

288,000

250,000

8.0%

29

447,100

32

213,400

81

371,000

SE Portland

537

156

144

170

-10.1%

214

231,100

109

3,906

3,048

17.0%

2,973

230,800

196,000

7.4%

48

332,400

65

126,100

120

338,900

Gresham/ Troutdale

460

72

85

82

-17.2%

97

185,000

118

2,017

1,428

5.8%

1,395

194,800

180,000

-0.4%

11

265,300

129

202,900

42

211,500

Milwaukie/ Clackamas

605

129

123

131

3.1%

142

261,400

114

2,812

1,928

20.7%

1,844

249,400

230,000

4.0%

13

523,500

121

165,300

8

257,100

Oregon City/ Canby

444

84

87

61

-18.7%

105

263,700

115

1,698

1,171

9.1%

1,150

239,000

225,700

2.3%

-

102

139,700

16

350,900

Lake Oswego/ West Linn

445

68

88

81

-3.6%

108

512,100

157

2,085

1,389

19.1%

1,364

434,800

375,000

1.5%

1

1,850,000

40

234,700

8

549,600

W Portland

670

133

174

132

-6.4%

164

452,900

110

3,636

2,607

11.0%

2,560

412,300

347,300

7.2%

11

343,400

82

206,200

40

508,500

NW Wash Co.

239

51

57

65

4.8%

79

375,400

75

1,537

1,254

25.1%

1,206

356,200

340,000

-0.4%

3

192,000

37

212,200

4

319,300

Beaverton/ Aloha

393

92

84

102

-26.1%

152

227,700

92

2,557

2,122

9.8%

2,111

219,500

200,000

3.1%

9

223,500

30

201,700

41

349,700

Tigard/ Wilsonville

528

118

95

146

30.4%

192

300,800

126

2,768

2,147

21.2%

2,098

285,400

260,000

2.8%

7

602,100

45

329,300

18

310,300

Hillsboro/ Forest Grove

427

97

61

115

1.8%

136

222,400

109

2,087

1,754

22.1%

1,698

216,500

199,300

4.9%

22

230,200

48

433,000

38

218,700

Mt. Hood

102

8

22

5

-50.0%

14

257,700

110

242

141

28.2%

137

200,400

172,000

4.4%

1

459,500

12

88,800

Columbia Co.

299

34

54

30

-11.8%

38

168,400

130

846

534

6.8%

510

164,000

156,900

2.6%

7

143,200

36

104,500

3

101,800

Yamhill Co.

579

65

74

66

6.5%

84

264,400

207

1,627

1,008

16.3%

979

214,800

180,000

8.3%

8

354,500

66

217,400

16

187,000

Closed Sales

Closed Sales

Closed Sales

-

153

152

151

150

149

148

144

143

142

141

Total Market Time

Average Sale Price

1,035

Average Sale Price

24.9%

Average Sale Price

1,063

Median Sale Price

1,406

Average Sale Price

43

Closed Sales

Pending Sales 2012

240,900

145

Pending Sales 2012 v. 2011

New Listings

66

3

5.4%

Average Sale Price

59

Closed Sales

66

Pending Sales 2012

63

New Listings

231

Active Listings

N Portland

146

Pending Sales 2012 v. 2011

MULTIFAMILY

147

Expired/Canceled Listings

LAND

Year-To-Date

1

Current Month

COMMERCIAL

-

156

155

-

1

Percent change in number of pending sales this year compared to last year. The Current Month section compares December 2012 with December 2011. The Year-To-Date section compares 2012 year-to-date statistics through December with 2011 year-to-date statistics through December.

2

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

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.


ACTIVE RESIDENTIAL LISTINGS

Active Residential Listings 16,000 14,000

PORTLAND, OR

12,000

This graph shows the active

10,000

residential listings over the

8,000

past three calendar years in

6,000

the greater Portland, Oregon metropolitan area.

4,000

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT 2010 12,449 13,101 14,042 14,182 14,372 14,752 15,271 15,200 14,714 13,805 2011 11,697 11,746 11,458 11,621 11,825 11,817 11,970 11,276 10,666 10,012 2012 8,514 8,256 8,391 8,523 8,742 8,799 9,041 9,014 8,689 7,981

TOTAL ACTIVE LISTINGS

NOV DEC 13,103 11,611 9,451 8,612 7,216 6,352

Total Active Listings 20,000

PORTLAND, OR 17,500

This graph shows the 15,000

total active listings over the past three calendar

12,500

years in the greater

10,000

Portland, Oregon

7,500

metropolitan area.

5,000

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2010 15,724 16,496 17,491 17,699 17,832 18,180 18,750 18,710 18,174 17,205 16,533 14,586 2011 14,815 14,869 14,544 14,736 14,973 14,921 15,000 14,269 13,579 12,852 12,283 11,167 2012 11,175 10,939 10,957 11,146 11,465 11,448 11,709 11,629 11,263 10,542 9,659 8,374

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 Total 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.


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 $375,000 $355,000 $335,000 $315,000 $295,000

$275,000 $255,000 $235,000 $215,000

$175,000

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 Mar-12 Jun-12 Sep-12 Dec-12

$195,000

Average Sale Price

Median Sale Price

MEDIAN SALE PRICE

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

PORTLAND, OR

260000 240000 220000

This graph shows the

200000

median sale price over

180000

the past 12 months in

160000

the greater Portland,

140000

Oregon, metropolitan

120000

area and Clark

100000 DEC

JAN

FEB

MAR APR

MAY JUNE JULY AUG SEPT OCT

Clark County

Metro Portland, OR

5 © Copyright RMLS™ 2012. All Rights Reserved.

NOV

DEC

County.


MEDIAN SALE PRICE December 2012

SW WASHINGTON

$170,000

$135,000

Woodland

N/NE Clark County

$250,000

PORTLAND

$309,000

Battle Ground

Ridgefield/La Center

METRO

$ 157,500 Columbia County $279,800 Salmon Creek $221,300 Felida

$ 350,000 North Washington County Sauvie Island

$266,500 Brush Prairie Hockinson

$199,500 Hazel Dell Minnehaha

$176,500 5 Corners Orch.

$175,000 Cent. Vancouver

$193,800 Cascade Park

$179,000 Heights

$ 241,400 N Portland

$ 212,000 Hillsboro Forest Grove

$ 207,900 Beaverton Aloha

$ 281,000 Tigard/Tualatin Sherwood Wilsonville

$ 375,000 West Portland

$306,700 Camas/Washougal $ 241,000 NE Portland $ 187,000 SE Portland $ 249,700

$ 452,500

Milwaukie/Gladstone/ Boring/Clackamas Estacada

Lake Oswego West Linn

$ 203,900 $ 245,000 Oregon City Canby

Yamhill County

Molalla Beavercreek

6 © Copyright RMLS™ 2012. All Rights Reserved.

$ 179,900 Gresham Troutdale Sandy Corbett Fairview

$ 266,500 Mt. Hood: Zigzag Welches Rhododendron Wemme Brightwood Government Camp


MULTIPLE LISTING SERVICE

Portland, Oregon metropolitan area.

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

$120,000

2010

SALE VOLUME

14 12 10 8 6 4 2

Portland Metro

Clark County

Lane County

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™.

Brian Carlson, Chairman of the Board Kurt von Wasmuth, President/CEO Heather Andrews, Editor © Copyright RMLS™ 2012. All Rights Reserved.

'12

'11

'10

'09

'08

'07

0

'06

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.

16

'05

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

This graph shows annual residential sales volume for

'04

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

2012

Annual Sales Volume Report $ Billions

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

2011

Lane County, OR, Clark County, WA and Portland, OR.

RESIDENTIAL

Mid-Columbia PO Box 1088 Hood River, OR 97031 (541) 436-2956 Fax: (541) 387-6657

'02

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

$245,000

'01

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

Median Condo Sale Price

'00

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

PORTLAND, OR

Southwest Washington 1514 Broadway, Suite 101 Vancouver, WA 98663 (360) 696-0718 Fax: (360) 696-9342 Salem 4035 12th Street Cutoff SE, Suite 110 Salem, OR 97302 (503) 587-8810 Fax: (503) 585-3817

This graph represents the median sale price for all

MEDIAN SALE PRICE CONDOS

'03

Corporate 8338 NE Alderwood Rd, Suite 230 Portland, OR 97220 (503) 236-7657 Fax: (503) 230-0689


2012 Year-End Portland Market Action Report