A Publication of RMLS™, The Source for Real Estate Statistics in Your Community Residential Review: Metro Portland, Oregon February Highlights February saw an increase in closed sales in the Portland metro region. The 1,467 closed sales represent a 5.1% increase over January’s 1,396 closings and a 6.6% increase over the 1,376 closings from February 2013. In fact, it was the best February for closings in the Portland area since 2007, when there were 1,899! Other numbers were slightly cooler in February— accepted offers, at 1,848 fell 8.8% from January’s 2,027 pendings and 13.2% from last February’s 2,130 pendings. New listings, at 2,354 in February, fell 8.9% compared to January’s 2,583 new listings and decreased 4.0% compared to last February’s 2,453 new listings.
February 2014 Reporting Period
and February 2012. Total market time increased to 100 days, but is still the lowest February since 2008. Inventory fell slightly in February to 3.9 months.
Average and Median Sale Prices Portland-area prices are still rising. Comparing the average price of sold homes in the twelve months ending February 28th of this year ($314,400) with the average price of homes sold in the twelve months ending February 2013 ($278,600) shows an increase of 12.8%. In the same comparison, the median has increased 14.9% from $235,000 to $269,900.
Inventory in Months* 2012 2013 2014 January 7.0 4.7 4.1 February 6.5 4.5 3.9 March 5.0 3.2 April 4.7 3.1 May 4.2 2.5 June 3.9 2.9 July 4.6 2.8 August 3.9 3.1 September 4.6 3.7 October 3.8 3.4 November 4.2 3.7 December 3.6 3.2 *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 Average Sale Price % Change:
The number of active residential listings rose to 5,752 in February— lower than both February 2013
+12.8% ($314,400 v. $278,600) Median Sale Price % Change: +14.9% ($269,900 v. $235,000)
For further explanation of this measure, see the second footnote on page 2.
Change
2013
2014
Portland Metro Residential highlights
New Listings
Pending Sales
Closed Sales
Average Sale Price
Median Sale Price
Total Market Time
February
2,354
1,848
1,467
325,500
279,000
100
January
2,583
2,027
1,396
317,200
265,000
96
Year-to-date
4,967
3,816
2,930
321,000
270,000
97
February
2,453
2,130
1,376
282,000
242,000
116
Year-to-date
4,915
3,945
2,768
284,300
244,900
114
February
-4.0%
-13.2%
6.6%
15.4%
15.3%
-14.2%
Prev Mo 2014
-8.9%
-8.8%
5.1%
2.6%
5.3%
4.2%
Year-to-date
1.1%
-3.3%
5.9%
12.9%
10.2%
-15.0%
© Copyright RMLS™ 2014. All Rights Reserved.
AREa REPORT • 2/2014
Portland Metropolitan Area, Oregon RESIDENTIAL
Year-To-Date
Year-To-Date
209,300
4
330,900
NE Portland
297
189
39
169
-18.4%
141
329,800
80
372
359
-6.5%
293
327,100
269,500 12.2%
5
341,400
3
88,300
9
358,800
SE Portland
520
277
63
222
-11.2%
196
285,300
76
571
480
3.2%
362
292,000
242,000 18.4%
4
384,500
7
184,100
22
492,300
144
Gresham/ Troutdale
492
189
56
114
-9.5%
77
219,800
103
369
240
9.6%
173
233,400
227,000 14.2%
3
179,700
11
145,000
2
492,500
145
Milwaukie/ Clackamas
518
187
60
143
-17.3%
105
285,600
111
392
287
-11.7%
213
290,400
275,000 13.4%
1
171,000
22
167,100
2
510,800
146
Oregon City/ Canby
402
136
49
111
-1.8%
72
294,400
103
301
217
4.3%
160
294,700
288,500 14.5%
12
250,600
1
270,000
Lake Oswego/ West Linn
412
168
53
101
-9.8%
79
546,900
137
353
203
-14.3%
150
517,100
425,000
9.9%
1
712,500
6
363,700
W Portland
577
258
69
202
-11.0%
156
482,500
87
573
430
4.6%
326
467,300
365,000
8.4%
2
45,000
13
183,500
8
794,000
NW Wash Co.
229
113
22
81
-20.6%
88
408,000
83
226
188
-5.1%
167
391,400
339,000 10.6%
-
-
3
276,100
1
350,000
Beaverton/ Aloha
389
220
52
179
-3.2%
115
287,200
67
435
319
-6.5%
251
264,500
240,000 17.7%
-
-
4
115,200
7
411,600
Tigard/ Wilsonville
484
174
52
144
-27.3%
117
325,200
95
412
300
-24.1%
235
326,100
302,700
9.1%
2
299,000
8
311,000
2
251,000
Hillsboro/ Forest Grove
392
156
38
146
-12.6%
120
253,000
77
339
304
9.0%
211
250,200
235,000 13.1%
1
80,000
12
216,300
3
255,800
85
13
4
14
40.0%
15
227,900
275
32
30
57.9%
27
229,800
224,000 12.6%
-
-
2
22,800
Columbia Co.
276
63
21
47
-6.0%
36
197,400
216
139
98
1.0%
69
206,100
175,300 18.5%
-
-
5
95,400
1
150,000
Yamhill Co.
485
104
37
86
-18.1%
74
275,600
205
233
175
-8.4%
137
264,700
222,500 14.2%
14
123,300
1
243,000
141 142 143 148 149 153 155
-
210,800
Average Sale Price
2
Closed Sales
229,500
2
Average Sale Price
3
Closed Sales
251,000 15.5%
Closed Sales
Median Sale Price
267,900
-
Average Sale Price
2
Average Sale Price
156
Closed Sales
5.7%
147
Avg. Sale Price % Change
Pending Sales 2014 v. 2013
186
Pending Sales
220
New Listings
81
150
3
267,100
Total Market Time
76
Mt. hood
Average Sale Price
-15.2%
Closed Sales
89
Pending Sales
29
New Listings
107
Active Listings
194
151
Pending Sales 2014 v. 2013
Year-To-Date
152
Expired/Canceled Listings
MULTIFAMILY
N Portland
156 1
LAND
1
Year-To-Date
1
Current Month
COMMERCIAL
-
-
-
-
Percent change in number of pending sales this year compared to last year. The Current Month section compares February 2014 with February 2013. The Year-To-Date section compares 2014 year-to-date statistics through February with 2013 year-to-date statistics through February.
2
% Change is based on a comparison of the rolling average sale price for the last 12 months (3/1/13-2/28/14) with 12 months before (3/1/12-2/28/13).
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™ 2014. All Rights Reserved.
ACTIVE RESIDENTIAL LISTINGS
Active Residential Listings 10,000
9,000
Portland, OR
8,000
This graph shows the active
7,000
residential listings over the
6,000
past three calendar years in
5,000
the greater Portland, Oregon metropolitan area.
4,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2012 8,514 8,256 8,391 8,523 8,742 8,799 9,041 9,014 8,689 7,981 7,216 6,352 2013 6,366 6,256 6,207 6,498 6,818 7,348 7,849 8,003 7,903 7,355 6,751 5,707 2014 5,671 5,752
TOTAL ACTIVE LISTINGS PORTLAND, OR
This graph shows the total active listings over
Total Active Listings 12,500
10,000
the past three calendar years in the greater
7,500
Portland, Oregon metropolitan area.
5,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 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 2013 8,519 8,435 8,385 8,673 9,002 9,564 10,138 10,293 10,223 9,573 8,884 7,511 2014 7,606 7,731
NEW LISTINGS
New Listings
PORTLAND, OR
This graph shows the
4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 0
new residential listings over the past three calendar years in the greater Portland, Oregon metropolitan area.
2012
2013
2014
3
© Copyright RMLS™ 2014. All Rights Reserved.
PENDING LISTINGS Pending Sales
PORTLAND, OR
This graph represents
3,500 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
2012
2013
2014
CLOSED SALES
Closed Sales
PORTLAND, OR
This graph shows the
3,000
closed sales over the past
2,500
five calendar years in the
2,000
greater Portland, Oregon
1,500
metropolitan area.
1,000
2010 2011 2012 2013
500
2014
0
DAYS ON MARKET
Average Total Market Time
PORTLAND, OR
160
This graph shows the
140 120
average market time for
100
sales in the Portland,
80 60
Oregon metropolitan area
40
over the past three calendar
20 0
years. 2012 TMT
2013 TMT
2014 TMT
4
© Copyright RMLS™ 2014. 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
Feb-05 May-05 Aug-05 Nov-05 Feb-06 May-06 Aug-06 Nov-06 Feb-07 May-07 Aug-07 Nov-07 Feb-08 May-08 Aug-08 Nov-08 Feb-09 May-09 Aug-09 Nov-09 Feb-10 May-10 Aug-10 Nov-10 Feb-11 May-11 Aug-11 Nov-11 Feb-12 May-12 Aug-12 Nov-12 Feb-13 May-13 Aug-13 Nov-13 Feb-14
$195,000
Average Sale Price
Median Sale Price
MEDIAN SALE PRICE
Median Sale Price: Portland, OR & Clark Co., WA
PORTLAND, OR
$300,000 $280,000 $260,000
This graph shows the
$240,000 $220,000
median sale price over
$200,000
the past 12 months in
$180,000 $160,000
the greater Portland,
$140,000
Oregon, metropolitan
$120,000 $100,000
FEB
MAR APR
MAY JUNE JULY AUG SEPT OCT Clark County
NOV
DEC
Metro Portland, OR
5
© Copyright RMLS™ 2014. All Rights Reserved.
JAN
FEB
area and Clark County.
Median sale price February 2014
SW Washington
$155,000
$277,500
Woodland
N/NE Clark County
$253,000
Portland
$314,700
Battle Ground
Ridgefield/La Center
Metro
$ 194,500 Columbia County $264,500 Salmon Creek $231,000 Felida
$ 332,500 North Washington County Sauvie Island
Brush Prairie Hockinson
$198,600 Hazel Dell Minnehaha
$209,500 5 Corners Orch.
$145,000 Cent. Vancouver
$ 265,000 Beaverton
$ 377,800 West Portland
Aloha
$ 307,000 Tigard/Tualatin Sherwood Wilsonville
$311,300 Camas/Washougal $ 285,000 NE Portland $ 245,200 SE Portland $ 275,000
$ 398,000
Milwaukie/Gladstone/ Boring/Clackamas Estacada
Lake Oswego West Linn
$ 226,200 $ 284,000 Oregon City Canby Molalla Beavercreek
Yamhill County
6
$220,600 Cascade Park
$235,300 Heights
$ 250,500 N Portland
$ 237,000 Hillsboro Forest Grove
$292,500
Š Copyright RMLS™ 2014. All Rights Reserved.
$ 215,000 Gresham Troutdale Sandy Corbett Fairview
$ 178,500 Mt. Hood: Zigzag Welches Rhododendron Wemme Brightwood Government Camp
MULTIPLE LISTING SERVICE
Corporate 8338 NE Alderwood Rd, Suite 230 Portland, OR 97220 (503) 236-7657 Fax: (503) 230-0689 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 Lane County: Eugene 2139 Centennial Plaza Eugene, OR 97401 (541) 686-2885 Fax: (541) 484-3854 Lane County: Florence PO Box 414 Florence, OR 97439 (541) 902-2560 Fax: (541) 902-1341
ACTIVE & CLOSED CONDOS
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 The statistics presented in Market Action are compiled monthly based on figures generated by RMLS™. 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.
condos in the Portland, Oregon, metropolitan area.
PORTLAND, OR Active & Closed Condos 800 700 600 500 400 300 200 100 0
Douglas County 3510 NE Edenbower Roseburg, OR 97470 (541) 673-3571 Fax: (541) 673-6581 Curry County 16289 Hwy 101 S, Suite E Brookings, OR 97415 (541) 469-0219 Fax: (541) 469-9695 Mid-Columbia PO Box 1088 Hood River, OR 97031 (541) 436-2956 Fax: (541) 387-6657
This graph shows the number of active and closed
Active Listings
Closed Sales
Median Condo Sale Price $225,000 $200,000 $175,000 $150,000 $125,000 $100,000
2012
2013
2014
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 Houston, Chairman of the Board Kurt von Wasmuth, President/CEO Heather Andrews, Editor © Copyright RMLS™ 2014. All Rights Reserved.