Page 1

A Publication of RMLS™, The Source for Real Estate Statistics in Your Community Residential Review: Metro Portland, Oregon May Highlights Real estate activity in the Portland metro area continues to see seasonal gains. New listings (4,192) are up 15.5% over April’s 3,629 and up 9.4% compared to the 3,833 new listings posted last May. It was the strongest May for new listings since 2008, when there were 5,182. The 2,989 pending sales were a 5.8% increase over last month, but just a 0.4% increase over the same month last year. May had 2,483 closed sales, up 15.9% over April’s 2,143 closings, but down 7.4% from the 2,682 closings posted in May 2013. There are currently 6,858 active residential listings in the Portland metro area. Total market time continued falling in May, and currently sits at 67 days. Inventory stayed stable at 2.8 months.

Year to Date Summary Portland’s real estate market has seen only slight cooling compared to 2013. New listings (16,077) are up 3.2% compared to the first five months of 2013. Pending sales (11,852) and closed sales (9,772) are down 2.7% and 0.9% in the same comparison. Average and Median Sale Prices The average price the first five months this year was $327,200, up 9.1% from same time in 2013 when the average was $299,900. In the same comparison, the median rose 10.1% from $253,000 in the first five months of 2013 to $278,500 in the same period of 2014.

May 2014 Reporting Period 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 3.1 April 4.7 3.1 2.8 May 4.2 2.5 2.8 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: +10.6% ($320,400 v. $289,800) Median Sale Price % Change: +12.2% ($275,000 v. $245,000)

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

2014

Portland Metro Residential highlights

2013

Pending Sales

Closed Sales

Average Sale Price

Median Sale Price

Total Market Time

May

4,192

2,989

2,483

335,300

290,000

67

April

3,629

2,825

2,143

332,600

280,000

77

16,077

11,852

9,772

327,200

278,500

82

3,833

2,978

2,682

316,900

269,500

85

15,581

12,187

9,857

299,900

253,000

100

9.4%

0.4%

-7.4%

5.8%

7.6%

-21.0%

15.5%

5.8%

15.9%

0.8%

3.6%

-13.0%

3.2%

-2.7%

-0.9%

9.1%

10.1%

-18.1%

Year-to-date

Change

New Listings

May Year-to-date May Prev Mo 2014 Year-to-date

© Copyright RMLS™ 2014. All Rights Reserved.


AREa REPORT • 5/2014

Portland Metropolitan Area, Oregon RESIDENTIAL

Year-To-Date

Year-To-Date

163,900

13

408,400

NE Portland

418

376

44

273

-16.0%

220

360,600

56

1,372

1,082

-12.7%

909

348,800

299,000 11.7%

14

375,900

23

125,300

28

364,500

SE Portland

592

443

63

349

-2.2%

300

307,000

45

1,792

1,438

2.3%

1,217

295,300

250,000 14.5%

12

474,800

22

148,200

55

471,900

144

Gresham/ Troutdale

503

238

49

204

12.1%

151

247,500

104

1,053

750

9.8%

602

234,000

224,300 10.9%

5

177,400

27

130,100

15

330,400

145

Milwaukie/ Clackamas

589

353

70

239

1.3%

219

301,500

52

1,318

946

-5.9%

763

299,500

280,000 12.9%

2

401,800

55

161,700

7

357,400

146

Oregon City/ Canby

464

243

39

163

-15.1%

129

295,500

84

894

634

-3.8%

521

293,100

278,000 14.4%

2

225,000

33

215,000

6

279,300

Lake Oswego/ West Linn

515

256

51

161

-14.4%

139

532,100

74

1,037

650

-11.3%

524

526,100

455,600

7.2%

1

712,500

16

370,800

3

428,700

W Portland

737

475

81

328

-2.7%

276

463,500

57

1,830

1,307

-3.6%

1,091

465,000

379,800

6.1%

3

130,000

34

189,500

15

644,200

NW Wash Co.

302

220

41

128

-7.9%

133

399,000

53

797

585

-3.8%

523

411,600

379,000

8.0%

13

284,500

3

341,500

Beaverton/ Aloha

491

398

53

285

10.9%

235

284,800

46

1,440

1,064

-2.5%

876

272,600

250,000 13.7%

2

281,500

4

115,200

15

374,200

Tigard/ Wilsonville

584

369

59

282

13.3%

212

342,000

72

1,390

1,027

-9.4%

795

327,900

309,000

8.4%

4

781,400

18

303,800

4

502,800

Hillsboro/ Forest Grove

428

264

37

199

-1.0%

151

263,600

73

1,047

853

0.0%

706

257,700

235,000 10.9%

7

273,300

29

181,200

12

487,800

97

31

6

18 100.0%

21

273,700

141

112

84

61.5%

75

256,600

237,500 23.1%

1

395,000

3

33,500

Columbia Co.

316

121

13

68

0.0%

52

206,900

125

430

303

4.1%

220

201,700

197,000 23.1%

7

297,900

20

108,400

3

180,000

Yamhill Co.

616

238

40

146

27.0%

131

261,200

134

888

568

2.9%

466

255,600

219,400 12.1%

5

232,700

38

189,400

6

295,000

141 142 143 148 149 153

-

Average Sale Price

8

Closed Sales

220,300

155

Average Sale Price

4

Closed Sales

265,800 15.1%

Closed Sales

Median Sale Price

282,200

-

Average Sale Price

2

Average Sale Price

484

Closed Sales

6.7%

147

Avg. Sale Price % Change

Pending Sales 2014 v. 2013

561

Pending Sales

677

New Listings

52

150

3

304,200

Total Market Time

114

Mt. hood

Average Sale Price

18.7%

Closed Sales

146

Pending Sales

33

New Listings

167

Active Listings

206

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 May 2014 with May 2013. The Year-ToDate section compares 2014 year-to-date statistics through May with 2013 year-to-date statistics through May.

2

% Change is based on a comparison of the rolling average sale price for the last 12 months (6/1/13-5/31/14) with 12 months before (6/1/12-5/31/13).

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 5,811 6,093 6,858

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 2012 11,175 10,939 10,957 2013 8,519 8,435 8,385 2014 7,606 7,731 7,702

APR MAY JUN JUL AUG SEP OCT NOV DEC 11,146 11,465 11,448 11,709 11,629 11,263 10,542 9,659 8,374 8,673 9,002 9,564 10,138 10,293 10,223 9,573 8,884 7,511 8,066 8,928

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

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 May-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

MAY JUNE JULY AUG SEPT OCT Clark County

NOV

DEC

JAN

FEB

MAR APR

Metro Portland, OR

5

© Copyright RMLS™ 2014. All Rights Reserved.

MAY

area and Clark County.


Median sale price May 2014

SW Washington

$241,900

$205,000

Woodland

N/NE Clark County

$253,500

Portland

$303,700

Battle Ground

Ridgefield/La Center

Metro

$ 210,200 Columbia County $282,000 Salmon Creek $255,000 Felida

$ 375,000 North Washington County Sauvie Island

Brush Prairie Hockinson

$207,500 Hazel Dell Minnehaha

$211,700 5 Corners Orch.

$169,900 Cent. Vancouver

$ 263,000 Beaverton

$ 380,000 West Portland

Aloha

$ 310,400 Tigard/Tualatin Sherwood Wilsonville

$298,700 Camas/Washougal $ 329,500 NE Portland $ 269,600 SE Portland $ 285,000

$ 472,500

Milwaukie/Gladstone/ Boring/Clackamas Estacada

Lake Oswego West Linn

$ 224,900 $ 275,000 Oregon City Canby Molalla Beavercreek

Yamhill County

6

$216,000 Cascade Park

$219,000 Heights

$ 289,800 N Portland

$ 235,000 Hillsboro Forest Grove

$355,600

Š Copyright RMLS™ 2014. All Rights Reserved.

$ 229,900 Gresham Troutdale Sandy Corbett Fairview

$ 244,900 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 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 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

ACTIVE & CLOSED CONDOS

This graph shows the number of active and closed condos in the Portland, Oregon, metropolitan area.

PORTLAND, OR Active & Closed Condos 800 700 600 500 400 300 200 100 0

Active Listings

MEDIAN SALE PRICE CONDOS PORTLAND, OR

Closed Sales

This graph represents the median sale price for all condos sold in the last three calendar years in the Portland, Oregon metropolitan area. Median Condo Sale Price

$225,000 $200,000 $175,000 $150,000 $125,000

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.

$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.

May Market Action Report  

The Source for Real Estate Statistics in Your Community

Read more
Read more
Similar to
Popular now
Just for you