july 2010 rmls market action report home values portland listed sold

8/9/2019 July 2010 RMLS Market Action Report Home Values Portland Listed Sold

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A Publication of RMLS ™ , The Source for Real Estate Statistics in Your Community

© Copyright RMLS™ 2010. All Rights Reserved.

Residential Review: Metro Portland, Oregon July 2010 Reporting Period

July Residential HighlightsWhen comparing sales activity

in the Portland metro area in July2010 to the same time last year, July2009, closed sales declined 29%.Pending sales also decreased 24.9%and new listings rose 3.1%. Seeresidential highlights table below.

On a month-to-month basis,when comparing July 2010 to June2010, closed sales fell 29.8% (1,412v. 2,012), while pending sales grew0.7% (1,629 v. 1,618). New listingsalso fell 0.5% (4,029 v. 4,049).

At the month’s rate of sales, the15,271 active residential listingswould last approximately 10.8months.

Sale PricesThe average sale price for July

2010 increased 2.9% comparedto July 2009, while the mediansale pr ice went down 1.6%.See residential highlights table below.

When comparing July 2010 tothe month prior, June 2010, theaverage sale price increased 2.5%($297,000 v. $289,000) and themedian sale price also went up2.5% ($246,000 v. $240,000).Year-to-Date

I n c r e a s e s a r e s e e n w h e ncomparing January-July 2010 withthe same period in 2009. Closedsales were up by 22.5%. Pendingsales also went up 9.1% and newlistings grew 6.8%.

NewListings

PendingSales

ClosedSales

AverageSale Price

MedianSale Price

TotalMarket

Time

July4,029 1,629 1,412 297,000 246,000 121

Year-to-date 30,051 12,733 11,717 282,900 240,000 130

July 3,907 2,170 1,988 288,600 250,000 143

Year-to-date 28,148 11,667 9,566 293,800 250,000 148

July 3.1% -24.9% -29.0% 2.9% -1.6% -15.8%

Year-to-date 6.8% 9.1% 22.5% -3.7% -4.0% -12.0%

2 0 1 0

2 0 0 9

C h a n g e

Portland MetroResidentialHighlights

*Inventory in Months is calculated by dividithe Active Listings at the end of the month iquestion by the number of closed sales for that month.

Inventory in Months*2008 2009 2010

January 12.8 19.2 12.6February 10.4 16.6 12.9March 9.1 12 7.8April 10.3 11 7.3May 9.2 10.2 7June 9.5 8.2 7.3July 10 7.3 10.8

August 9.9 7.8September 10.4 7.6October 11.1 6.5November 15 7.1December 14.1 7.7

Percent Change of 12-Month Sale PriceCompared With The Previous 12 Months

Average Sale Price % Change:-6.4% ($284,200 v. $303,500)

Median Sale Price % Change:-6.6% ($240,500 v. $257,500)

*Total Market Time is the number of days from when a property is list ed to when an offer is accepted on that same property. If a propertyis re-listed within 31 days, Total Market Time continues to accrue; however, it does not include the time that it was off the market.

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


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NEW LISTINGSPORTLAND, OR

This graph shows the

new residential listings

over the past threecalendar years in the

greater Portland, Oregon

metropolitan area.

TOTAL ACTIVE

LISTINGSPORTLAND, OR


total active listings over

the past three calendar

years in the greater

Portland, Oregon

metropolitan area.

ACTIVERESIDENTIAL

LISTINGSPORTLAND, OR

This graph shows the active

residential listings over the

past three calendar yearsin the greater Portland,

Oregon metropolitan area.4000

6000

8000

10000

12000

14000

16000

18000

20000

Active Residential Listings

2008 2009 2010

5000

7500

10000

12500

15000

17500

20000

22500

25000

Total Active Listings

Total Active Listings 2008 Total Active Listings 2009 Total Active Listings 2010

0

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2,000

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4,000

5,000

6,000

New Listings

2008 2009 2010


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This graph represents

monthly accepted offers

in the Portland, Oregon

metropolitan area over

the past three calendar

years.

PENDING LISTINGSPORTLAND, OR


closed sales over the past

three calendar years in

the greater Portland,

Oregon metropolitan

area.

CLOSED SALES

PORTLAND, OR


average market time for

sales in the Portland,

Oregon metropolitan area.

* As of August 2008, graph

now reports “Total Days

on Market” - for details

read footnotes on page 2.

DAYS ON MARKETPORTLAND, OR

0

500

1,000

1,500

2,000

2,500

3,000

3,500

Pending Sales

2008 2009 2010

0

500

1,000

1,500

2,000

2,500

Closed Sales

2008 2009 2010

020406080

100

120140160180

Average Market Time

2008 2008 TMT2009 TMT 2010 TMT



© Copyright RMLS™

2010. All Rights Reserved.

5

This graph represents the average sale price for all homes sold in the Portland,

Oregon metropolitan area.

AVERAGE SALEPRICE

PORTLAND, OR

100000

120000

140000

160000

180000

200000

220000

240000

260000

AUG SEPT OCT NOV DEC JAN FEB MAR APR MAY JUNE JULY

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

Clark County Metro Portland, OR


median sale price ove

the past 12 months in

greater Portland, Oreg

metropolitan area and

Clark County.

MEDIAN SALEPRICE

PORTLAND, OR

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

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Average Sale Price



$189,900

Yamhill County

$227,000N Portland

$251,500NE

Portland

$197,700SEPortland

$185,500GreshamTroutdale

SandyCorbettFairview $172,000

Mt. Hood:Zigzag

WelchesRhododendron

WemmeBrightwood

Government Camp

$240,000Milwaukie/Gladstone/ Boring/ClackamasEstacada

$236,500

Oregon CityCanbyMolalla

Beavercreek

$416,500

Lake Oswego

WestLinn

$377,100West

Portland

$337,500North Washington County

Sauvie Island

$230,000Beaverton

Aloha

$301,000Tigard/Tualatin

SherwoodWilsonville

$205,100Hillsboro

Forest Grove

$173,500Columbia County

$266,000Heights

$169,900Cent. Vancouver

$189,000Cascade Park

$161,2005 Corners

Orch.

$202,800HazelDell

Minnehaha

$192,500Felida

$220,000Salmon Creek

$243,500Camas/Washougal

$277,500

Brush Prairie

Hockinson

$253,400

Ridgefield/La Center

$212,500

Battle Ground

$354,800

N/NE Clark County$232,500

Woodland

MEDIAN SALE PRICEJuly 2010

PORTLAND

METRO

6 © Copyright RMLS ™ 2010. All Rights Reserved.

SW

WASHINGTON



MULTIPLE LISTING SERVICE

The statistics presented in MarketAction are compiled monthly based on

gures generated by RMLS™

.Statistics reect reported activity for

the greater Portland, Oregon metropolitanarea, to include Multnomah, Washington,Clackamas, Yamhill, & Columbia counties;Lane, Douglas, Coos & Curry Counties inOregon; portions of other Oregon Counties;and Clark, Cowlitz & Pacic Counties inWashington.

RMLS™ was formed by area Boards andAssociations of REALTORS ® in 1991.

E-mail subscriptions are available for$45 per year by contacting RMLS ™, (503)236-7657. Reproduction of any portion ofthis copyrighted material is prohibitedwithout prior approval of RMLS ™.

Gary Whiting, Chairman of the BoardKurt von Wasmuth, President/CEONatalie Middleton, EditorKelsey Brunson, Assistant Editor

© Copyright RMLS ™ 2010. All Rights Reserved.

Lane County: FlorencePO Box 414

Florence, OR 97439(541) 902-2560Fax: (541) 902-1341

Curry CountyPO Box 6307

Brookings, OR 97415(541) 469-0219

Fax: (541) 469-9695

Lane County: Eugene2139 Centennial Plaza

Eugene, OR 97401(541) 686-2885

Fax: (541) 484-3854

Southwest Washington1514 Broadway, Suite 101

Vancouver, WA 98663(360) 696-0718

Fax: (360) 696-9342

Douglas County3510 NE EdenbowerRoseburg, OR 97470

(541) 673-3571Fax: (541) 673-6581

Corporate825 NE Multnomah, Suite 270

Portland, OR 97232(503) 236-7657

Fax: (503) 230-0689

Mid-ColumbiaPO Box 1088

Hood River, OR 97031(541) 436-2956

Fax: (541) 387-6657

Eastern OregonPO Box 751

Hermiston, OR 97838(541) 567-5186

Fax: (541) 289-7320

Coos County1946 Sherman Ave., Suite 101

North Bend, OR 97459(541) 751-1070

Fax: (541) 751-1083

Salem2110 Mission St. SE, Suite 305

Salem, OR 97302(503) 587-8810

Fax: (503) 585-3817

This graph represents the median sale price for all

condos sold in the last three calendar years in the

Portland, Oregon metropolitan area.

MEDIAN SALEPRICE CONDOS

PORTLAND, OR

$150,000

$175,000

$200,000

$225,000

$250,000

Median Condo Sale Price

2008 2009 2010

AFFORDABILITY - According to a formula from the National Association of R EALTORS ® , buying a house in the Portlandmetro area is affordable for a family earning the median income. A family earning the median income ($71,200 in 2010, perHUD) can afford 148% of a monthly mortgage payment on a median priced home ($240,000 in June). The formula assumesthat the buyer has a 20% down payment and a 30 year xed rate of 4.74% (per Freddie Mac).

AffordabilityPORTLAND, OR

This graph shows the affordability for Portland,

Oregon metropolitan area in June 2010.

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Affordability Index

july 2010 rmls market action report home values portland listed sold

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