Page 1

A Publication of RMLS™, The Source for Real Estate Statistics in Your Community Residential Review: Metro Portland, Oregon April Residential Highlights Comparing April 2012 with April 2011 shows improvement in both pending and closed sales, which were also up compared to the previous month. There were 2,365 accepted offers, 18.0% more than the 2,005 reported in April 2011 a nd 4.1% more t ha n t he 2,272 in the previous month. In fact, with the exception of March and April of 2010 which were impacted by deadlines for the First-Time Homebuyer Tax Credit, the number of pending sales is h igher t ha n a ny mont h si nce August 2007. The 1,822 closed sales represent a 13.1% increase over the same month last year, when 1,611 were recorded, and 7.6% more than the 1,694 sales in March. New listings this April (3,038) were down slightly compared to

Change

2011

2012

Portland Metro Residential Highlights April

April 2012 Reporting Period

April last year (3,099), but rose 5.3% compared to March (2,886). The unsold inventory is the lowest it has been since June 2007. It would take only 4.7 months to sell the 8,523 active listings at the April rate of sales.

Year-to-Date C o mp a r i n g t h e f i r s t f o u r months of 2012 with the same period in 2011 shows closed sales increased 13.1% from 5,513 to 6,236. Pending sales were up by 17.5% increasing from 6,806 to 8,000. New listings were down 9.7% at 12,378 versus 11,182. Total time on market decreased 18.3% from 161 to 132. When comparing homes prices year-to-date this year and last, there is less than 1% difference in both median sales price and average sales 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 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. This includes proposed and under construction homes. Percent Change of 12-Month Sale Price Compared With The Previous 12 Months Average Sale Price % Change: -4.9% ($262,100 v. $275,500) Median Sale Price % Change: -3.9% ($221,000 v. $230,000)

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

Median Sale Price

Total Market Time

3,038

2,365

1,822

262,400

225,000

123

11,182

8,000

6,236

254,600

216,200

132

3,099

2,005

1,611

267,300

219,900

153

12,378

6,806

5,513

257,000

215,000

161

April

-2.0%

18.0%

13.1%

-1.8%

2.3%

-19.5%

Year-to-date

-9.7%

17.5%

13.1%

-0.9%

0.6%

-18.3%

Year-to-date April Year-to-date

*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 • 4/2012 Portland Metropolitan Area, Oregon RESIDENTIAL

Average Sale Price

Median Sale Price

Avg. Sale Price % Change2

359

32.0%

258

210,000

201,700

0.1%

3

498,300

8

74,600

11

559,300

NE Portland

620

322

59

229

16.8%

175

268,800

77

1,068

787

20.2%

650

272,800

239,000

-4.4%

6

414,600

14

212,300

24

337,500

SE Portland

791

349

85

284

4.8%

246

214,100

102

1,317

976

15.9%

797

209,100

170,000

-6.0%

13

229,600

14

86,200

42

333,300

144

Gresham/ Troutdale

575

174

49

138

8.7%

120

184,200

120

743

485

5.4%

394

187,500

173,300

-7.0%

1

950,000

36

119,800

13

266,900

145

Milwaukie/ Clackamas

704

244

87

189

20.4%

151

245,000

165

974

681

29.2%

500

239,800

215,000

-6.2%

5

229,700

28

144,800

1

300,000

Oregon City/ Canby

560

160

43

111

3.7%

98

239,600

162

593

400

6.7%

330

231,700

216,800

-1.5%

-

-

22

154,900

4

228,600

Lake Oswego/ West Linn

618

188

58

132

20.0%

114

361,000

142

716

447

15.8%

341

374,300

337,000

0.8%

-

-

13

260,600

1

275,000

W Portland

958

365

110

284

9.7%

198

402,200

139

1,289

867

4.1%

646

384,900

320,000

-5.3%

6

404,500

20

243,700

16

349,400

NW Wash Co.

325

152

47

135

26.2%

119

339,400

107

528

440

29.4%

318

344,600

324,500

-2.0%

2

163,000

9

184,400

-

Beaverton/ Aloha

589

224

60

213

33.1%

147

209,800

137

896

718

17.3%

560

203,000

182,000

-5.8%

2

283,500

7

93,900

12

254,200

Tigard/ Wilsonville

726

263

71

189

12.5%

143

296,600

138

935

676

24.0%

524

273,500

242,900

-6.3%

2

552,500

10

156,100

2

267,500

Hillsboro/ Forest Grove

597

196

39

178

30.9%

124

191,800

108

726

587

24.1%

471

199,000

176,900

-4.4%

8

145,800

13

482,500

11

244,700

Mt. Hood

117

31

19

14

75.0%

10

198,000

199

72

48

77.8%

37

185,900

172,000

-6.8%

-

-

1

8,500

Columbia Co.

370

89

29

42

-10.6%

39

198,400

120

282

176

8.6%

151

169,100

165,000

-6.8%

-

-

9

137,500

1

106,000

Yamhill Co.

670

147

52

113

43.0%

68

189,000

138

562

353

18.9%

259

194,400

167,000

-3.2%

28

235,300

7

118,900

5

141 142 143 148 149 153 155

Closed Sales

Total Market Time

Closed Sales

379,200

Average Sale Price

Closed Sales

481

Average Sale Price

Pending Sales 2012 v. 2011

73

Average Sale Price

Pending Sales 2012

213,900

Closed Sales

New Listings

70

3

56.2%

Average Sale Price

Pending Sales 2012 v. 20111

114

Closed Sales

Pending Sales 2012

27

New Listings

134

Active Listings

303

146

Year-To-Date

147

Year-To-Date

150

Year-To-Date

151

MULTIFAMILY

152

Year-To-Date

LAND

N Portland

156 1

Expired/Canceled Listings

Current Month

COMMERCIAL

-

-

-

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

2

% Change is based on a comparison of the rolling average sale price for the last 12 months (5/1/11-4/30/12) with 12 months before (5/1/10-4/30/11).

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

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

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

1,500 2008 2009

metropolitan area.

1,000

2010 2011 2012

500 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

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

Apr-02 Jul-02 Oct-02 Jan-03 Apr-03 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

$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 APR

MAY JUNE JULY AUG SEPT OCT Clark County

NOV

DEC

JAN

FEB

Metro Portland, OR

5 © Copyright RMLS™ 2012. All Rights Reserved.

MAR APR

County.


MEDIAN SALE PRICE April 2012

SW WASHINGTON

$130,000

$106,500

Woodland

N/NE Clark County

$190,000

PORTLAND

$280,000

Battle Ground

Ridgefield/La Center

METRO

$ 178,000 Columbia County $214,500 Salmon Creek $173,600 Felida

$ 325,000 North Washington County Sauvie Island

$354,000 Brush Prairie Hockinson

$160,000 Hazel Dell Minnehaha

$147,700 5 Corners Orch.

$154,500 Cent. Vancouver

$180,000 Cascade Park

$162,000 Heights

$ 202,500 N Portland

$ 171,300 Hillsboro Forest Grove

$ 194,000 Beaverton Aloha

$ 252,100 Tigard/Tualatin Sherwood Wilsonville

$ 338,300 West Portland

$248,000 Camas/Washougal $ 239,500 NE Portland $ 175,000 SE Portland $ 230,000

$ 343,500

Milwaukie/Gladstone/ Boring/Clackamas Estacada

Lake Oswego West Linn

$ 177,000 $ 224,700 Oregon City Canby Molalla Beavercreek

Yamhill County

6 © Copyright RMLS™ 2012. All Rights Reserved.

$ 179,300 Gresham Troutdale Sandy Corbett Fairview

$ 201,300 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 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

AFFORDABILITY PORTLAND, OR

2011

2012

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

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

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 186% of a monthly mortgage payment on a median priced home ($215,700 in March). The formula assumes that the buyer has a 20% down payment and a 30 year fixed rate of 3.95% (per Freddie Mac).

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.

Portland Metro Market Action Report  

Regional Multiple Listing Service Market Action Report April 2012