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A Publication of RMLS™, The Source for Real Estate Statistics in Your Community Residential Review: Metro Portland, Oregon July Residential Highlights All measures of real estate activity are positive when comparing July 2012 with July 2011. There were 2,372 accepted offers, 23% more than the 1,928 reported in July 2011 although down slightly (-2.6%) from last month. The 1,973 closed sales represent a 15.4% increase over the same month last year, when 1,709 were recorded. This represents the highest number of closed sales in the month of July since 2009. New listings rose 7.5% from 2,942 to 3,162 when comparing July 2011 to July 2012 but were down slightly (-1.4%) from the previous month. Overall real estate activity is positive when comparing July 2012 to the same month last year but

2012

Portland Metro Residential Highlights

2011

down slightly from the previous month. We’ve seen a similar pattern in prior years with activity dropping in July from June highs. The unsold inventory in months ticked up slightly from 3.9 in June to 4.6 in July and is lower than any July since 2006. It would take only 4.6 months to sell the 9,041 active listings at the July rate of sales.

Sale Prices Home sale price measures were all positive in July. The median sales price rose 7.8% when comparing July 2012 with the same month in 2011 and 1.2% when comparing it to the previous month. When comparing the percent change of the last 12 months with the previous 12 months we see a 0.7% gain in the median price.

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 5.0 April 7.3 7.2 4.7 May 7.0 6.8 4.2 June 7.3 6.0 3.9 July 10.8 7.0 4.6 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. This includes proposed and under construction homes.

Percent Change of 12-Month Sale Price Compared With The Previous 12 Months Average Sale Price % Change: -1.0% ($267,200 v. $269,800) Median Sale Price % Change: +0.7% ($226,500 v. $225,000)

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

Median Sale Price

Total Market Time

July

3,162

2,372

1,973

287,000

245,000

100

June

3,208

2,435

2,244

284,100

242,000

114

21,095

14,851

12,933

269,300

229,500

120

2,942

1,928

1,709

275,100

227,200

132

22,245

12,550

11,209

262,800

220,000

149

7.5%

23.0%

15.4%

4.3%

7.8%

-24.3%

Prev Mo 2012

-1.4%

-2.6%

-12.1%

1.0%

1.2%

-12.3%

Year-to-date

-5.2%

18.3%

15.4%

2.5%

4.3%

-19.3%

Year-to-date

Change

July 2012 Reporting Period

July Year-to-date July

© Copyright RMLS™ 2012. All Rights Reserved.


AREA REPORT • 7/2012 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

322

138

31

106

55.9%

80

253,900

73

892

661

23.8%

570

227,800

219,500

3.3%

8

357,500

29

149,400

19

519,100

NE Portland

615

311

58

243

25.9%

214

277,200

83

2,008

1,503

19.7%

1,322

281,500

245,500

0.7%

14

497,000

20

223,700

42

322,500

SE Portland

823

378

91

311

39.5%

252

236,000

72

2,516

1,874

19.8%

1,638

223,400

186,100

0.3%

25

293,800

32

102,300

75

342,500

144

Gresham/ Troutdale

594

201

48

138

8.7%

118

196,300

103

1,324

879

7.6%

789

191,200

175,000

-4.1%

3

395,000

58

138,700

20

236,000

145

Milwaukie/ Clackamas

835

282

71

167

28.5%

158

252,000

114

1,864

1,178

24.7%

1,030

245,800

227,500

-0.1%

7

364,100

74

163,700

3

276,600

Oregon City/ Canby

584

175

62

128

17.4%

87

245,400

87

1,087

724

8.7%

630

235,800

220,500

-0.2%

-

-

57

131,900

8

248,200

Lake Oswego/ West Linn

662

217

82

128

17.4%

120

425,000

126

1,373

868

23.1%

751

409,400

359,900

-0.8%

-

-

22

256,900

4

374,000

1,040

370

92

284

27.9%

221

452,400

116

2,449

1,639

10.6%

1,413

410,300

340,000

-1.0%

8

340,200

46

204,800

24

379,800

NW Wash Co.

349

153

24

112

17.9%

83

386,100

77

988

781

21.7%

653

358,500

345,000

-1.3%

3

192,000

23

218,200

1

400,000

Beaverton/ Aloha

595

228

47

201

6.3%

172

233,800

72

1,679

1,331

16.0%

1,158

213,800

195,000

0.6%

6

158,500

17

218,300

22

277,900

Tigard/ Wilsonville

806

264

59

203

19.4%

203

315,100

101

1,803

1,305

25.7%

1,131

285,300

255,000

-2.4%

3

551,700

28

349,100

8

400,900

Hillsboro/ Forest Grove

563

198

36

177

28.3%

135

226,200

133

1,331

1,080

25.4%

953

210,000

191,500

0.4%

13

248,100

31

565,100

21

216,400

Mt. Hood

138

25

12

16

166.7%

12

165,800

170

158

85

70.0%

73

184,900

170,000

-10.1%

6

86,200

Columbia Co.

399

87

30

56

7.7%

45

164,000

129

565

329

13.4%

288

167,200

158,000

-0.4%

1

125,000

19

105,100

3

101,800

Yamhill Co.

,716

135 ,

70

,102

5.2%

, 73

213,900 ,

156

1,058 ,

,614

11.0%

,534

203,800 ,

174,000 ,

-0.4%

7

330,100

46

227,600 ,

8

136,600 ,

148

147

143

142

N Portland

146

141

Active Listings

LAND

2

Year-To-Date

1

Current Month

COMMERCIAL

153

152

151

150

149

W Portland

-

-

-

156

155

-

1

Percent change in number of pending sales this year compared to last year. The Current Month section compares July 2012 with July 2011. The Year-ToDate section compares 2012 year-to-date statistics through July with 2011 year-to-date statistics through July.

2

% Change is based on a comparison of the rolling average sale price for the last 12 months (8/1/11-7/31/12) with 12 months before 8/1/10-7/31/11).

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.


ACTIVE RESIDENTIAL LISTINGS

Active Residential Listings 16,000 14,000

PORTLAND, OR

12,000

This graph shows the active

10,000

residential listings over the

8,000

past three calendar years in

6,000

the greater Portland, Oregon metropolitan area.

4,000

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2010 12,449 13,101 14,042 14,182 14,372 14,752 15,271 15,200 14,714 13,805 13,103 11,611 2011 11,697 11,746 11,458 11,621 11,825 11,817 11,970 11,276 10,666 10,012 9,451 8,612 2012 8,514 8,256 8,391 8,523 8,742 8,799 9,041

TOTAL ACTIVE LISTINGS

Total Active Listings 20,000

PORTLAND, OR 17,500

This graph shows the 15,000

total active listings over the past three calendar

12,500

years in the greater

10,000

Portland, Oregon

7,500

metropolitan area.

5,000

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2010 15,724 16,496 17,491 17,699 17,832 18,180 18,750 18,710 18,174 17,205 16,533 14,586 2011 14,815 14,869 14,544 14,736 14,973 14,921 15,000 14,269 13,579 12,852 12,283 11,167 2012 11,175 10,939 10,957 11,146 11,465 11,448 11,709

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 Total 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

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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

Jul-03 Oct-03 Jan-04 Apr-04 Jul-04 Oct-04 Jan-05 Apr-05 Jul-05 Oct-05 Jan-06 Apr-06 Jul-06 Oct-06 Jan-07 Apr-07 Jul-07 Oct-07 Jan-08 Apr-08 Jul-08 Oct-08 Jan-09 Apr-09 Jul-09 Oct-09 Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12

$195,000

Average Sale Price

Median Sale Price

MEDIAN SALE PRICE

Median Sale Price: Portland, OR & Clark Co., WA

PORTLAND, OR

260000 240000 220000

This graph shows the

200000

median sale price over

180000

the past 12 months in

160000

the greater Portland,

140000

Oregon, metropolitan

120000

area and Clark

100000 JULY AUG SEPT OCT

NOV

DEC

Clark County

JAN

FEB

MAR APR

MAY JUNE JULY

Metro Portland, OR

5 © Copyright RMLS™ 2012. All Rights Reserved.

County.


MEDIAN SALE PRICE July 2012

SW WASHINGTON

$105,000

$285,500

Woodland

N/NE Clark County

$199,800

PORTLAND

$261,000

Battle Ground

Ridgefield/La Center

METRO

$ 144,000 Columbia County $245,500 Salmon Creek $195,000 Felida

$ 365,500 North Washington County Sauvie Island

$288,000 Brush Prairie Hockinson

$186,800 Hazel Dell Minnehaha

$137,500 5 Corners Orch.

$143,500 Cent. Vancouver

$195,500 Cascade Park

$199,900 Heights

$ 231,600 N Portland

$ 213,000 Hillsboro Forest Grove

$ 209,100 Beaverton Aloha

$ 275,000 Tigard/Tualatin Sherwood Wilsonville

$ 355,200 West Portland

$229,500 Camas/Washougal $ 250,300 NE Portland $ 205,000 SE Portland $ 240,000

$ 402,500

Milwaukie/Gladstone/ Boring/Clackamas Estacada

Lake Oswego West Linn

$ 175,000 $ 224,900 Oregon City Canby Molalla Beavercreek

Yamhill County

6 © Copyright RMLS™ 2012. All Rights Reserved.

$ 185,000 Gresham Troutdale Sandy Corbett Fairview

$ 149,000 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

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

Coos County 1946 Sherman Ave., Suite 101 North Bend, OR 97459 (541) 751-1070 Fax: (541) 751-1083

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

AFFORDABILITY PORTLAND, OR

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

This graph represents the median sale price for all

2011

2012

This graph shows the affordability for housing in Portland, Oregon in June 2012.

Affordability Index 200

180 160

140 120 100

80 60

40 20

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. 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™.

0 Sep-03 Dec-03 Mar-04 Jun-04 Sep-04 Dec-04 Mar-05 Jun-05 Sep-05 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

The statistics presented in Market Action are compiled monthly based on figures generated by RMLS™.

AFFORDABILITY - According to a formula from the National Association of REALTORS®, buying a house in the Portland metro area is affordable for a family earning the median income. A family earning the median income ($73,000 in 2012, per HUD) can afford 171% of a monthly mortgage payment on a median priced home ($242,000 in June). The formula assumes that the buyer has a 20% down payment and a 30 year fixed rate of 3.68% (per Freddie Mac).

Steve Lucas, Chairman of the Board Kurt von Wasmuth, President/CEO Mary-Frances Makichen, Editor © Copyright RMLS™ 2012. All Rights Reserved.


RMLS Market Action - July 2012