A Publication of RMLS™, The Source for Real Estate Statistics in Your Community Residential Review: Metro Portland, Oregon February Residential Highlights While there were fewer active and new listings on the market, sales activity in Metro Portland s h owe d a n i mp r ove m e nt i n both pending and closed sales in February 2012. Also notable in February was a decrease in inventory, down from 7.0 last month and the lowest February inventory since 2007. Closed Sales were up 17.5% in February 2012 compared to February 2011. Pending sales grew 32.5%, and new listings dropped 13.6%. Comparing the previous month of January 2012 with February 2012, closed sales grew from 1,224 to 1,262 (3.1%). Pending sales also i ncreased from 1,823 to 2,109 (15.7%). New listings dropped from 2,613 to 2,492 (-4.6%).
Change
2011
2012
Portland Metro Residential Highlights
February 2012 Reporting Period
Sale Prices Average sale price for February 2012 r o s e 4. 3% c ompa r e d to February 2011. Median sale price fell 1.3%. Month to month, comparing January 2012 to February 2012, average sale price went up from $249,100 to $255,100 (2.4%) and the median sale price rose from $207,500 to $211,000 (1.7%).
Year-to-Date Comparing January-February 2012 with the same period in 2011 shows closed sales increased 17.9%. Pending sales were up 26.3%, and new listings decreased by 15%. A comparison of year-to-date totals between 2012 and 2011 shows average sales price rose 1.8% and median sale price decreased 2.3%.
New Listings
Pending Sales
Closed Sales
Average Sale Price
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 April 7.3 7.2 May 7.0 6.8 June 7.3 6.0 July 10.8 7.0 August 11.0 6.2 September 10.5 6.7 October 10.7 6.8 November 10.2 6.2 December 7.9 5.3 *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. Percent Change of 12-Month Sale Price Compared With The Previous 12 Months Average Sale Price % Change: -5.5% ($263,500 v. $278,700) Median Sale Price % Change: -6.4% ($220,000 v. $235,000)
For further explanation of this measure, see the second footnote on page 2.
Median Sale Price
Total Market Time
February
2,492
2,109
1,262
255,100
211,000
138
Year-to-date
5,146
3,819
2,539
251,300
209,900
137
February
2,883
1,592
1,074
244,500
213,700
177
Year-to-date
6,053
3,024
2,154
246,800
214,900
168
February
-13.6%
32.5%
17.5%
4.3%
-1.3%
-22.3%
Year-to-date
-15.0%
26.3%
17.9%
1.8%
-2.3%
-18.5%
*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.
© Copyright RMLS™ 2012. All Rights Reserved.
AREA REPORT • 2/2012 Portland Metropolitan Area, Oregon RESIDENTIAL
Year-To-Date
Year-To-Date
Year-To-Date
Average Sale Price
Closed Sales
Average Sale Price
Closed Sales
Average Sale Price
Closed Sales
Avg. Sale Price % Change
Median Sale Price
Average Sale Price
Closed Sales
Pending Sales 2012 v. 2011
Pending Sales 2012
New Listings
3
Total Market Time
Average Sale Price
Closed Sales
Pending Sales 2012 v. 2011
Pending Sales 2012
Expired/Canceled Listings
New Listings
MULTIFAMILY
275
94
50
94
40.3%
59
206,700
93
218
178
34.8%
102
202,100
195,900
-1.8%
1
250,000
2
119,500
6
744,700
NE Portland
538
220
73
190
24.2%
145
279,600
105
449
361
35.2%
281
273,200
236,000
-5.7%
4
473,100
4
199,300
9
334,400
SE Portland
783
319
115
252
27.9%
163
198,300
114
619
459
22.7%
336
211,200
169,500
-7.8%
7
235,900
7
94,000
13
412,600
144
Gresham/ Troutdale
563
184
85
134
27.6%
68
188,000
97
366
226
7.1%
145
200,800
173,000
-7.0%
-
8
83,000
6
149,500
145
Milwaukie/ Clackamas
755
224
118
188
62.1%
80
240,400
153
463
312
24.8%
193
233,800
206,000
-6.9%
84,000
6
90,800
Oregon City/ Canby
513
136
73
123
26.8%
59
213,700
127
275
210
21.4%
131
221,800
200,000
-5.9%
-
-
8
86,200
1
200,000
Lake Oswego/ West Linn
572
157
56
128
48.8%
62
397,000
152
311
221
30.8%
137
379,400
320,000
0.4%
-
-
4
222,600
1
275,000
W Portland
884
284
124
218
6.3%
133
395,700
209
565
383
3.5%
263
379,600
293,000
-4.4%
1
651,000
9
180,700
5
389,600
NW Wash Co.
372
111
30
111
76.2%
50
365,700
134
245
192
36.2%
100
350,900
316,000
0.3%
1
242,000
6
147,600
Beaverton/ Aloha
619
201
62
172
12.4%
121
204,100
108
446
343
23.8%
237
205,100
180,000
-8.3%
2
45,000
7
265,400
Tigard/ Wilsonville
687
207
76
200
73.9%
110
250,100
174
444
345
58.3%
208
255,300
235,000
-8.4%
2
552,500
7
119,800
1
245,000
Hillsboro/ Forest Grove
584
157
51
141
18.5%
111
211,100
117
351
302
45.9%
209
198,300
179,000
-7.8%
5
183,900
5
429,000
4
174,300
Mt. Hood
104
13
6
17
240.0%
10
203,300
159
24
26
85.7%
14
218,900
178,300
-3.7%
-
-
Columbia Co.
332
52
31
51
34.2%
35
154,900
228
109
101
44.3%
64
148,400
154,500
-11.2%
-
-
Yamhill Co.
,675
133 ,
47
, 90
23.3%
, 56
243,700 ,
170
,261
,160
6.0%
,119
199,200 ,
167,000 ,
-7.4%
-
-
-
2
-
-
-
-
-
-
153
152
151
150
149
148
147
143
142
N Portland
146
141
Active Listings
LAND
2
Year-To-Date
1
Current Month
COMMERCIAL
-
-
-
1
90,000
-
-
6
399,300 ,
156
155
-
5
138,200 ,
Note: Data for the North Coastal Counties is now reported in the monthly “North Coastal Counties” Market Action Report. Note: Data for Polk and Marion Counties is now reported in the monthly “Polk & Marion Counties” Market Action Report.
1
Percent change in number of pending sales this year compared to last year. The Current Month section compares February 2012 with February 2011. The Year-To Date section compares year-to-date statistics from February 2012 with year-to-date statistics from February 2011.
2
% Change is based on a comparison of the rolling average sale price for the last 12 months (3/1/11-2/29/12) with 12 months before (3/1/10-2/28/11).
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.
16000
ACTIVE RESIDENTIAL LISTINGS
14000
PORTLAND, OR
12000
This graph shows the active
10000
residential listings over the
8000
past three calendar years in
6000
the greater Portland,
Active Residential Listings
4000
Oregon metropolitan area.
2010
2011
2012
TOTAL ACTIVE LISTINGS
Total Active Listings
PORTLAND, OR
20,000
This graph shows the
17,500
total active listings over
15,000
the past three calendar years in the greater Portland, Oregon
12,500 10,000 7,500 5,000
metropolitan area.
2010
2011
2012
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 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.
AVERAGE SALE PRICE
This graph represents the average sale price for all homes sold in the Portland, Oregon metropolitan area.
PORTLAND, OR
Average Sale Price $375,000 $355,000 $335,000 $315,000
$295,000 $275,000 $255,000 $235,000
$215,000
$175,000
Feb-02 May-02 Aug-02 Nov-02 Feb-03 May-03 Aug-03 Nov-03 Feb-04 May-04 Aug-04 Nov-04 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
$195,000
MEDIAN SALE PRICE
Median Sale Price: Portland, OR & Clark Co., WA
PORTLAND, OR
240000 220000 200000
This graph shows the
180000
median sale price over
160000
the past 12 months in
140000
the greater Portland,
120000
Oregon, metropolitan area and Clark
100000 FEB
MAR APR
MAY JUNE JULY AUG SEPT OCT Clark County
NOV
DEC
Metro Portland, OR
5 © Copyright RMLS™ 2012. All Rights Reserved.
JAN
FEB
County.
MEDIAN SALE PRICE February 2012
SW WASHINGTON
$176,000
$139,900
Woodland
N/NE Clark County
$194,900
PORTLAND
$210,000
Battle Ground
Ridgefield/La Center
METRO
$ 162,000 Columbia County $230,000 Salmon Creek $242,500 Felida
$ 327,500 North Washington County Sauvie Island
$193,500 Brush Prairie Hockinson
$169,900 Hazel Dell Minnehaha
$135,100 5 Corners Orch.
$120,500 Cent. Vancouver
$149,500 Cascade Park
$140,500 Heights
$ 199,900 N Portland
$ 184,900 Hillsboro Forest Grove
$ 185,000 Beaverton Aloha
$ 229,600 Tigard/Tualatin Sherwood Wilsonville
$ 313,000 West Portland
$219,500 Camas/Washougal $ 245,000 NE Portland $ 162,500 SE Portland $ 210,300
$ 352,500
Milwaukie/Gladstone/ Boring/Clackamas Estacada
Lake Oswego West Linn
$ 198,200 $ 200,000 Oregon City Canby
Yamhill County
Molalla Beavercreek
6 © Copyright RMLS™ 2012. All Rights Reserved.
$ 174,000 Gresham Troutdale Sandy Corbett Fairview
$ 178,300 Mt. Hood: Zigzag Welches Rhododendron Wemme Brightwood Government Camp
MULTIPLE LISTING SERVICE
Corporate 825 NE Multnomah, Suite 270 Portland, OR 97232 (503) 236-7657 Fax: (503) 230-0689
MEDIAN SALE PRICE CONDOS PORTLAND, OR
Southwest Washington 1514 Broadway, Suite 101 Vancouver, WA 98663 (360) 696-0718 Fax: (360) 696-9342 Salem 2110 Mission St. SE, Suite 305 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 PO Box 6307 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
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
$245,000 $220,000 $195,000 $170,000 $145,000
$120,000
2010
ACTIVE & CLOSE CONDOS
2011
2012
This graph shows the number of active and closed condos in the Portland, Oregon, metropolitan area.
PORTLAND, OR Active & Closed Condos 1,600 1,400 1,200 1,000 800 600
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.
400 200 0
Active Listings
Closed Sales
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™.
Steve Lucas, Chairman of the Board Kurt von Wasmuth, President/CEO Mary-Frances Makichen, Editor © Copyright RMLS™ 2012. All Rights Reserved.