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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.

Portland's February Action Report  

The Source for Real Estate Statistics in Your Community

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