A Publication of RMLS™, The Source for Real Estate Statistics in Your Community Residential Review: Metro Portland, Oregon December 2014 Reporting Period December Residential Highlights The Portland metro area closed the year with an uptick in closed sales this December. The 2,239 closings stood 25.6% higher than the 1,782 closings posted in December 2013 and 15.6% higher than the 1,937 closings posted just last month. In fact, this was the best December for closings in the Portland metro area since 2005, when there were 2,536!
increased in December to 76 days. Inventory decreased to to 2.3 months.
End-of-Year Summary Portland metro activity ended 2014 higher than 2013 numbers in all measures. New listings (37,654) were up 5.0%, pending sales (28,220) were up 4.3%, and closed sales (27,752) were up 3.6% during the entirety of 2014 compared to the Pending sales (1,667) showed a same time period in 2013. 20.3% cooler month when compared Average and Median Sale Prices to November (2,091) but were 12.3% Prices were higher in 2014 than ahead of the 1,484 offers accepted in 2013. The average price in 2014 last December. Similarly, new was $333,000, up 7.2% from 2013 listings (1,540) decreased 19.9% when the average was $310,600. In compared to November (1,922) but the same comparison, the median fared 15.5% better than the 1,333 also rose 7.7% from $265,000 in 2013 new listings posted in December to $285,500 during 2014. 2013. There are currently 5,146 active residential listings in the Portland metro area. Total market time
2014
Portland Metro Residential Highlights
2013
*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: +7.2% ($333,000 v. $310,600) Median Sale Price % Change: +7.7% ($285,500 v. $265,000)
For further explanation of this measure, see the second footnote on page 2.
New Listings
Pending Sales
Closed Sales
Average Sale Price
Median Sale Price
Total Market Time
December
1,540
1,667
2,239
331,600
290,000
76
November
1,922
2,091
1,937
336,000
287,000
69
37,654
28,220
27,752
333,000
285,500
70
1,333
1,484
1,782
308,700
267,300
87
Year-to-date
35,858
27,065
26,782
310,600
265,000
83
December
15.5%
12.3%
25.6%
7.4%
8.5%
-13.1%
-19.9%
-20.3%
15.6%
-1.3%
1.0%
10.1%
5.0%
4.3%
3.6%
7.2%
7.7%
-15.5%
Year-to-date
Change
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 2.8 July 4.6 2.8 2.9 August 3.9 3.1 3.0 September 4.6 3.7 3.1 October 3.8 3.4 2.8 November 4.2 3.7 3.2 December 3.6 3.2 2.3
December
Prev Mo 2014 Year-to-date
Š Copyright RMLS™ 2015. All Rights Reserved.
AREA REPORT • 12/2014
Portland Metropolitan Area, Oregon RESIDENTIAL
2
Median Sale Price
1,313
8.2%
1,314
291,600
278,100
9.4%
15
388,300
23
241,700
37
416,700
NE Portland
312
147
100
168
16.7%
222
346,900
60
3,445
2,728
-2.4%
2,671
348,600
305,000
6.9%
31
364,100
41
136,000
82
382,800
SE Portland
478
191
156
197
0.5%
287
300,500
56
4,453
3,457
8.0%
3,398
303,300
260,000
12.5%
44
510,400
66
154,800
142
470,000
144
Gresham/ Troutdale
392
102
102
109
26.7%
157
244,700
83
2,422
1,763
16.4%
1,733
243,100
228,800
8.5%
15
430,700
60
172,500
44
346,300
145
Milwaukie/ Clackamas
418
123
125
140
26.1%
197
305,200
79
3,109
2,283
5.8%
2,215
310,500
287,000
10.4%
11
350,500
105
167,900
22
334,600
146
Oregon City/ Canby
328
90
63
94
42.4%
100
308,900
121
1,970
1,500
7.9%
1,463
299,600
280,000
10.2%
6
274,800
103
191,600
18
266,500
Lake Oswego/ West Linn
348
79
110
81
6.6%
117
512,500
105
2,297
1,508
-1.4%
1,496
527,500
455,000
9.5%
3
479,500
54
355,800
14
393,800
W Portland
504
124
129
164
0.6%
232
475,500
71
4,143
3,014
-2.8%
2,994
470,200
394,800
5.9%
14
542,300
87
222,300
41
550,900
NW Wash Co.
170
81
69
77
-8.3%
90
401,400
64
1,746
1,346
-1.2%
1,368
418,300
388,300
5.7%
-
45
269,500
5
334,900
Beaverton/ Aloha
388
160
105
187
33.6%
225
294,500
68
3,475
2,647
9.7%
2,592
277,300
255,000
6.7%
4
270,500
12
147,800
47
367,500
Tigard/ Wilsonville
432
117
93
127
1.6%
200
352,200
82
3,291
2,492
-0.4%
2,438
338,300
320,600
7.3%
7
660,400
38
389,300
11
398,000
Hillsboro/ Forest Grove
365
95
80
109
12.4%
149
279,200
73
2,457
1,937
0.5%
1,905
271,500
250,000
10.6%
20
267,500
56
189,300
37
358,400
76
10
19
15
7.1%
17
234,600
203
262
195
19.6%
192
239,400
221,300
5.1%
4
201,300
15
73,900
-
Columbia Co.
287
57
46
40
8.1%
66
218,800
96
1,044
693
14.5%
665
211,900
200,000
11.9%
12
236,200
56
88,300
15
231,600
Yamhill Co.
480
84
83
82
39.0%
87
221,000
94
1,913
1,344
13.0%
1,308
253,100
219,900
5.0%
17
325,600
92
232,100
19
264,700
141 142 143 148 149 153 155 156 1
Closed Sales
Closed Sales
-
Average Sale Price
Average Sale Price
1,627
Closed Sales
Closed Sales
43
Average Sale Price
Pending Sales
295,800
Average Sale Price
New Listings
93
Total Market Time
-10.5%
Closed Sales
77
Pending Sales
41
New Listings 80
Active Listings 168
147
Avg. Sale Price % Change
Pending Sales 2014 v. 2013
Year-To-Date
150
3
MULTIFAMILY
Year-To-Date
N Portland
Mt. Hood
Average Sale Price
LAND
Year-To-Date
151
Pending Sales 2014 v. 2013
COMMERCIAL
152
Expired.Canceled Listings
1
Year-To-Date
1
Current Month
Percent change in number of pending sales this year compared to last year. The Current Month section compares December 2014 with December 2013. The Year-To-Date section compares 2014 year-to-date statistics through December with 2013 year-to-date statistics through December.
2
% Change is based on a comparison of the rolling average sale price for the last 12 months (1/1/14-12/31/14) with 12 months before (1/1/13-12/31/13).
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™ 2015. 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,
4,000
Oregon metropolitan area.
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 7,250 7,727 7,784 7,438 6,963 6,131 5,146
TOTAL ACTIVE LISTINGS PORTLAND, OR
Total Active Listings 13,000 12,000
This graph shows the
11,000
total active listings over
10,000
the past three calendar
9,000
years in the greater
8,000
Portland, Oregon
7,000
metropolitan area.
6,000
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 11,146 8,673 8,066
MAY 11,465 9,002 8,928
JUN JUL AUG SEP 11,448 11,709 11,629 11,263 9,564 10,138 10,293 10,223 9,290 9,829 9,872 9,483
OCT 10,542 9,573 8,959
NOV DEC 9,659 8,374 8,884 7,511 8,098 6,839
NEW LISTINGS
New Listings
PORTLAND, OR
This graph shows the
4,500 4,000
new residential listings
3,500
over the past three
3,000 2,500
calendar years in the
2,000
greater Portland, Oregon
1,500 1,000
metropolitan area.
2012
2013
2014
3
© Copyright RMLS™ 2015. 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
metropolitan area over
1,500
the past three calendar
1,000
years.
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
2011
metropolitan area.
1,000
2012
2010
2013
500
2014
0
DAYS ON MARKET
Average Total Market Time 160
PORTLAND, OR
140
This graph shows the
120
average market time for
100 80
sales in the Portland,
60
Oregon metropolitan area
40
over the past three calendar
20
years. 2012 TMT
2013 TMT
2014 TMT
4
© Copyright RMLS™ 2015. 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-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 Mar-13 Jun-13 Sep-13 Dec-13 Mar-14 Jun-14 Sep-14 Dec-14
$195,000
Average Sale Price
Median Sale Price
MEDIAN SALE PRICE
Median Sale Price: Portland, OR & Clark Co., WA
PORTLAND, OR
$350,000
$300,000
This graph shows the
$250,000
median sale price over
$200,000
the past 12 months in the greater Portland,
$150,000 $100,000
Oregon, metropolitan DEC
JAN
FEB
MAR
APR
MAY JUNE JULY AUG SEPT OCT
Clark County
Metro Portland, OR
5
© Copyright RMLS™ 2015. All Rights Reserved.
NOV
DEC
area and Clark County.
MEDIAN SALE PRICE December 2014
SW WASHINGTON
$190,300
$213,500
Woodland
N/NE Clark County
$241,000
PORTLAND
$283,000
Battle Ground
Ridgefield/La Center
METRO
$ 209,500 Columbia County $353,000 Salmon Creek $295,900 Felida
$ 354,900 North Washington County Sauvie Island
Brush Prairie Hockinson
$215,000 Hazel Dell Minnehaha
$205,500 5 Corners Orch.
$175,000 Cent. Vancouver
$ 263,000 Beaverton
$ 405,000 West Portland
Aloha
$ 324,900 Tigard/Tualatin Sherwood Wilsonville
$304,700 Camas/Washougal $ 300,000 NE Portland $ 265,000 SE Portland $ 289,900
$ 440,000
Milwaukie/Gladstone/ Boring/Clackamas Estacada
Lake Oswego West Linn
$ 199,000 $ 290,000 Oregon City Canby Molalla Beavercreek
Yamhill County
6
$237,800 Cascade Park
$240,000 Heights
$ 300,000 N Portland
$ 260,000 Hillsboro Forest Grove
$295,800
© Copyright RMLS™ 2015. All Rights Reserved.
$ 230,000 Gresham Troutdale Sandy Corbett Fairview
$ 252,000 Mt. Hood: Zigzag Welches Rhododendron Wemme Brightwood Government Camp
MULTIPLE LISTING SERVICE
This graph shows the number of active and closed
ACTIVE & CLOSED CONDOS
condos in the Portland, Oregon, metropolitan area.
PORTLAND, OR
Contact RMLS™ 8338 NE Alderwood Rd Suite 230 Portland, OR 97220 (503) 236-7657 communications@rmls.com
Active & Closed Condos 800 700 600 500 400 300 200 100 0
Active Listings
E-mail subscriptions are available for $45 per year by contacting RMLS™. Reproduction of any portion of this copyrighted material is prohibited without prior approval of RMLS™.
This graph shows annual residential sales volume for Lane County, OR, Clark County, WA and Portland, OR.
RESIDENTIAL
Annual Sales Volume Report 16 14 12 10
8 6 4
Portland OR Metro
Clark Co WA
Lane Co OR
Randy Hunzeker, Chairman of the Board Kurt von Wasmuth, President/CEO Heather Andrews, Editor © Copyright RMLS™ 2015. All Rights Reserved.
'14
'13
'12
'11
'10
'09
'07
'06
'05
'04
'03
0
'02
2
'01
RMLS™ was formed by area Boards and Associations of REALTORS® in 1991.
SALE VOLUME
$ Billions
Market Action Reports are compiled for the following areas: Portland metropolitan area, Southwest Washington, Mid-Columbia, Columbia Basin, Baker County, Coos County, Curry County, Douglas County, Grant County, Josephine County, Lane County, North Coastal Counties, Polk & Marion Counties, Union County, and Wallowa County.
Closed Sales
'08
The statistics presented in Market Action are compiled monthly based on figures generated by RMLS™.