8 august 2014 full
DESCRIPTION
August 2014 Market Action ReportTRANSCRIPT
A Publication of RMLS™, The Source for Real Estate Statistics in Your Community
© Copyright RMLS™ 2014. All Rights Reserved.
Residential Review: Metro Portland, Oregon August 2014 Reporting Period
August HighlightsReal estate activity cooled
slightly this August in the Portland metro area, but still showed gains over activity in August 2013. New listings (3,581) bested last August’s 3,423 by 4.6%, although the number also fell by 9.4% compared to last month. Pending sales (2,704) fared 3.4% better than August 2013 (2,614) but fell 3.5% compared to July when there were 2,802 accepted offers. The 2,586 closings fell 3.4% compared to last month (2,678) and 1.4% compared to the same month last year, when there were 2,623 closed sales.
There are currently 7,784 active residential listings in the Portland metro area. Inventory rose slightly in August to 3.0 months, and total market time increased to 63 days.
Year to Date SummaryPortland metro area activity has
been slowly catching up with last year. New listings (27,946) are up 4.1% and pending sales (19,918) are up 0.1% compared to the first eight months of 2013. Closed sales (18,083) are down 0.8% in the same comparison.Average and Median Sale Prices
The average price the first eight months of the year was $332,600, up 7.6% from the same time frame in 2013 when the average was $309,200. In the same comparison, the median also rose 7.5% from $265,000 in the first eight months of 2013 to $285,000 in the same period of 2014.
New Listings
Pending Sales
ClosedSales
AverageSale Price
MedianSale Price
Total Market
Time
August 3,581 2,704 2,586 340,000 295,900 63
July 3,954 2,802 2,678 344,700 299,000 57
Year-to-date 27,946 19,918 18,083 332,600 285,000 72
August 3,423 2,614 2,623 321,900 277,000 69
Year-to-date 26,850 19,891 18,231 309,200 265,000 85
August 4.6% 3.4% -1.4% 5.6% 6.8% -8.1%
Prev Mo 2014 -9.4% -3.5% -3.4% -1.4% -1.0% 10.6%
Year-to-date 4.1% 0.1% -0.8% 7.6% 7.5% -15.7%
2014
2013
Chan
ge
Portland Metro Residential Highlights
*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.
Inventory in Months*2012 2013 2014
January 7.0 4.7 4.1February 6.5 4.5 3.9March 5.0 3.2 3.1April 4.7 3.1 2.8May 4.2 2.5 2.8June 3.9 2.9 2.8July 4.6 2.8 2.9August 3.9 3.1 3.0September 4.6 3.7October 3.8 3.4November 4.2 3.7December 3.6 3.2
Percent Change of 12-Month Sale Price Compared With The Previous 12 Months
Average Sale Price % Change: +8.5% ($326,400 v. $300,800)Median Sale Price % Change: +10.2% ($280,000 v. $254,000)
For further explanation of this measure, see the second footnote on page 2.
2© Copyright RMLS™ 2014. All Rights Reserved.
AREA REPORT • 8/2014 Portland Metropolitan Area, Oregon
1 Percent change in number of pending sales this year compared to last year. The Current Month section compares August 2014 with August 2013. The Year-To-Date section compares 2014 year-to-date statistics through August with 2013 year-to-date statistics through August.
2 % Change is based on a comparison of the rolling average sale price for the last 12 months (9/1/13-8/31/14) with 12 months before (9/1/12-8/31/13).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.
Act
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141
N Portland 248 159 35 119 -0.8% 114 298,700 31 1,183 931 8.5% 873 289,400 275,000 12.5% 8 412,500 14 231,100 27 436,500
142
NE Portland 531 380 70 285 13.5% 239 355,900 38 2,517 1,876 -7.4% 1,688 348,200 305,000 8.7% 22 360,000 35 121,700 51 401,000
143
SE Portland 763 456 100 325 6.9% 272 320,800 41 3,218 2,375 2.4% 2,163 300,900 257,000 13.7% 21 426,100 40 148,500 97 475,800
144 Gresham/
Troutdale 565 207 67 184 10.2% 155 260,800 87 1,797 1,243 11.6% 1,106 243,200 229,000 10.9% 7 296,600 43 153,300 28 290,300
145 Milwaukie/
Clackamas 650 311 104 246 16.6% 226 318,700 74 2,343 1,621 0.5% 1,410 307,800 285,000 11.9% 5 339,700 83 162,500 15 328,600
146 Oregon City/
Canby 482 169 41 165 26.0% 157 293,800 79 1,511 1,104 5.8% 979 296,900 279,900 12.5% 6 274,800 64 186,000 12 239,800
147 Lake Oswego/
West Linn 531 185 66 148 13.8% 134 520,200 57 1,725 1,092 -4.4% 999 529,400 458,000 5.4% 2 564,300 35 336,100 6 411,500
148
W Portland 841 373 104 276 -12.9% 271 480,000 70 3,135 2,135 -5.6% 2,004 468,200 389,000 6.9% 5 358,000 57 216,000 32 573,100
149
NW Wash Co. 315 157 37 103 -24.3% 136 437,900 71 1,344 994 -1.0% 958 419,300 395,000 6.5% - - 32 226,500 5 334,900
150 Beaverton/
Aloha 570 333 80 250 9.6% 248 280,500 44 2,522 1,834 3.7% 1,683 274,800 252,900 9.9% 2 281,500 9 159,500 26 343,300
151 Tigard/
Wilsonville 674 311 86 221 -14.0% 245 337,900 66 2,440 1,730 -8.0% 1,554 332,900 319,000 5.9% 6 713,800 28 391,600 7 443,300
152 Hillsboro/
Forest Grove 530 263 55 181 2.3% 182 285,900 71 1,844 1,378 -2.7% 1,247 271,600 249,900 11.2% 10 257,200 38 182,700 22 395,300
153
Mt. Hood 114 19 6 21 40.0% 10 234,900 89 195 134 30.1% 120 248,900 224,500 9.0% 2 216,500 9 68,900 - -
155
Columbia Co. 347 104 37 57 18.8% 63 234,700 91 740 490 12.6% 428 210,500 200,000 17.7% 10 243,000 35 92,400 8 174,100
156
Yamhill Co. 623 154 54 123 0.8% 134 250,100 102 1,432 981 8.3% 871 254,100 223,000 4.2% 7 304,800 66 219,800 14 266,300
Year-To-Date
COMMERCIAL LAND MULTIFAMILYRESIDENTIAL
Year-To-Date Year-To-DateCurrent Month Year-To-Date
3© Copyright RMLS™ 2014. All Rights Reserved.
NEW LISTINGS PORTLAND, OR
This graph shows the
new residential listings
over the past three
calendar years in the
greater Portland, Oregon
metropolitan area.
TOTAL ACTIVE LISTINGS
PORTLAND, OR
This graph shows the
total active listings over
the past three calendar
years in the greater
Portland, Oregon
metropolitan area.
ACTIVE RESIDENTIAL
LISTINGSPORTLAND, OR
This graph shows the active
residential listings over the
past three calendar years in
the greater Portland,
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 6,3522013 6,366 6,256 6,207 6,498 6,818 7,348 7,849 8,003 7,903 7,355 6,751 5,7072014 5,671 5,752 5,811 6,093 6,858 7,250 7,727 7,784
4,000
5,000
6,000
7,000
8,000
9,000
10,000
Active Residential Listings
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC2012 11,175 10,939 10,957 11,146 11,465 11,448 11,709 11,629 11,263 10,542 9,659 8,3742013 8,519 8,435 8,385 8,673 9,002 9,564 10,138 10,293 10,223 9,573 8,884 7,5112014 7,606 7,731 7,702 8,066 8,928 9,290 9,829 9,872
5,000
7,500
10,000
12,500
Total Active Listings
0500
1,0001,5002,0002,5003,0003,5004,0004,500
New Listings
2012 2013 2014
© Copyright RMLS™ 2014. All Rights Reserved.4
This graph represents
monthly accepted offers
in the Portland, Oregon
metropolitan area over
the past three calendar
years.
PENDING LISTINGS PORTLAND, OR
This graph shows the
closed sales over the past
five calendar years in the
greater Portland, Oregon
metropolitan area.
CLOSED SALES PORTLAND, OR
This graph shows the
average market time for
sales in the Portland,
Oregon metropolitan area
over the past three calendar
years.
DAYS ON MARKETPORTLAND, OR
0
500
1,000
1,500
2,000
2,500
3,000
3,500
Pending Sales
2012 2013 2014
0
500
1,000
1,500
2,000
2,500
3,000
Closed Sales
2010
2011
2012
2013
2014
020406080
100120140160
Average Total Market Time
2012 TMT 2013 TMT 2014 TMT
© Copyright RMLS™ 2014. All Rights Reserved.5
This graph represents the average and median sale price for all homes sold in
the Portland, Oregon metropolitan area.SALE PRICE PORTLAND, OR
$175,000
$195,000
$215,000
$235,000
$255,000
$275,000
$295,000
$315,000
$335,000
$355,000
$375,000
Aug
-05
Nov
-05
Feb-
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ay-0
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ov-0
6Fe
b-07
May
-07
Aug
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ov-0
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b-09
May
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Feb-
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ay-1
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4
Average and Median Sale Price
Average Sale Price Median Sale Price
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
AUG SEPT OCT NOV DEC JAN FEB MAR APR MAY JUNE JULY AUG
Median Sale Price: Portland, OR & Clark Co., WA
Clark County Metro Portland, OR
This graph shows the
median sale price over
the past 12 months in
the greater Portland,
Oregon, metropolitan
area and Clark
County.
MEDIAN SALE PRICE
PORTLAND, OR
$ 234,800
Yamhill County
$ 293,000N Portland
$ 315,000 NEPortland
$ 276,000 SEPortland
$ 242,000GreshamTroutdale
SandyCorbettFairview $ 224,500
Mt. Hood:Zigzag
WelchesRhododendron
WemmeBrightwood
Government Camp
$ 289,500Milwaukie/Gladstone/Boring/ClackamasEstacada
$ 280,000Oregon City
CanbyMolalla
Beavercreek
$ 450,800 Lake Oswego
West Linn
$ 395,000 West Portland
$ 398,000North Washington County
Sauvie Island
$ 255,600Beaverton
Aloha
$ 325,000 Tigard/Tualatin
SherwoodWilsonville
$ 255,000Hillsboro
Forest Grove
$ 219,900Columbia County
$210,000 Heights
$185,000Cent. Vancouver
$245,500Cascade Park
$219,2005 Corners
Orch.
$227,700HazelDell
Minnehaha
$260,500Felida
$329,900Salmon Creek
$336,800Camas/Washougal
$299,500
Brush Prairie
Hockinson
$289,800
Ridge�eld/La Center
$244,000
Battle Ground
$260,000
N/NE Clark County$177,500
Woodland
MEDIAN SALE PRICE August 2014
PORTLANDMETRO
6© Copyright RMLS™ 2014. All Rights Reserved.
SW WASHINGTON
MULTIPLE LISTING SERVICE
Brian Houston, Chairman of the BoardKurt von Wasmuth, President/CEOHeather Andrews, Editor
© Copyright RMLS™ 2014. All Rights Reserved.
This graph represents the median sale price for all
condos sold in the last three calendar years in the
Portland, Oregon metropolitan area.
MEDIAN SALE PRICE CONDOS
PORTLAND, OR
$100,000
$125,000
$150,000
$175,000
$200,000
$225,000
Median Condo Sale Price
2012 2013 2014
This graph shows the number of active and closed
condos in the Portland, Oregon, metropolitan area.
ACTIVE & CLOSED CONDOS
PORTLAND, OR
0
100
200
300
400
500
600
700
800
Active & Closed Condos
Active Listings Closed Sales
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, 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.
RMLS™ was formed by area Boards and Associations of REALTORS® in 1991.
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™.
Contact RMLS™8338 NE Alderwood Rd
Suite 230Portland, OR 97220
(503) [email protected]