2014-2015 Benefits Committee May 28, 2014 2014-2015 Benefits Committee May 28, 2014 1.
May 2014
7
A Publication of RMLS ™ , The Source for Real Estate Statistics in Your Community © Copyright RMLS™ 2014. All Rights Reserved. Residential Review: Metro Portland, Oregon May 2014 Reporting Period May Highlights Real estate activity in the Portland metro area continues to see seasonal gains. New listings (4,192) are up 15.5% over April’s 3,629 and up 9.4% compared to the 3,833 new listings posted last May. It was the strongest May for new listings since 2008, when there were 5,182. The 2,989 pending sales were a 5.8% increase over last month, but just a 0.4% increase over the same month last year. May had 2,483 closed sales, up 15.9% over April’s 2,143 closings, but down 7.4% from the 2,682 closings posted in May 2013. There are currently 6,858 active residential listings in the Portland metro area. Total market time continued falling in May, and currently sits at 67 days. Inventory stayed stable at 2.8 months. Year to Date Summary Portland’s real estate market has seen only slight cooling compared to 2013. New listings (16,077) are up 3.2% compared to the first five months of 2013. Pending sales (11,852) and closed sales (9,772) are down 2.7% and 0.9% in the same comparison. Average and Median Sale Prices The average price the first five months this year was $327,200, up 9.1% from same time in 2013 when the average was $299,900. In the same comparison, the median rose 10.1% from $253,000 in the first five months of 2013 to $278,500 in the same period of 2014. New Listings Pending Sales Closed Sales Average Sale Price Median Sale Price Total Market Time May 4,192 2,989 2,483 335,300 290,000 67 April 3,629 2,825 2,143 332,600 280,000 77 Year-to-date 16,077 11,852 9,772 327,200 278,500 82 May 3,833 2,978 2,682 316,900 269,500 85 Year-to-date 15,581 12,187 9,857 299,900 253,000 100 May 9.4% 0.4% -7.4% 5.8% 7.6% -21.0% Prev Mo 2014 15.5% 5.8% 15.9% 0.8% 3.6% -13.0% Year-to-date 3.2% -2.7% -0.9% 9.1% 10.1% -18.1% 2014 2013 Change 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 4.1 February 6.5 4.5 3.9 March 5.0 3.2 3.1 April 4.7 3.1 2.8 May 4.2 2.5 2.8 June 3.9 2.9 July 4.6 2.8 August 3.9 3.1 September 4.6 3.7 October 3.8 3.4 November 4.2 3.7 December 3.6 3.2 Percent Change of 12-Month Sale Price Compared With The Previous 12 Months Average Sale Price % Change: +10.6% ($320,400 v. $289,800) Median Sale Price % Change: +12.2% ($275,000 v. $245,000) For further explanation of this measure, see the second footnote on page 2.
description
Recent home sales statistics from the Portland Metro Multiple Listing Service (RMLS). These stats are for May 2014.
Transcript of May 2014
A Publication of RMLS™, The Source for Real Estate Statistics in Your Community
© Copyright RMLS™ 2014. All Rights Reserved.
Residential Review: Metro Portland, Oregon May 2014 Reporting Period
May HighlightsReal estate activity in the
Portland metro area continues to see seasonal gains. New listings (4,192) are up 15.5% over April’s 3,629 and up 9.4% compared to the 3,833 new listings posted last May. It was the strongest May for new listings since 2008, when there were 5,182. The 2,989 pending sales were a 5.8% increase over last month, but just a 0.4% increase over the same month last year. May had 2,483 closed sales, up 15.9% over April’s 2,143 closings, but down 7.4% from the 2,682 closings posted in May 2013.
There are currently 6,858 active residential listings in the Portland metro area. Total market time continued falling in May, and currently sits at 67 days. Inventory stayed stable at 2.8 months.
Year to Date SummaryPortland’s real estate market has
seen only slight cooling compared to 2013. New listings (16,077) are up 3.2% compared to the first five months of 2013. Pending sales (11,852) and closed sales (9,772) are down 2.7% and 0.9% in the same comparison.Average and Median Sale Prices
The average price the first five months this year was $327,200, up 9.1% from same time in 2013 when the average was $299,900. In the same comparison, the median rose 10.1% from $253,000 in the first five months of 2013 to $278,500 in the same period of 2014.
New Listings
Pending Sales
ClosedSales
AverageSale Price
MedianSale Price
Total Market
Time
May 4,192 2,989 2,483 335,300 290,000 67
April 3,629 2,825 2,143 332,600 280,000 77
Year-to-date 16,077 11,852 9,772 327,200 278,500 82
May 3,833 2,978 2,682 316,900 269,500 85
Year-to-date 15,581 12,187 9,857 299,900 253,000 100
May 9.4% 0.4% -7.4% 5.8% 7.6% -21.0%
Prev Mo 2014 15.5% 5.8% 15.9% 0.8% 3.6% -13.0%
Year-to-date 3.2% -2.7% -0.9% 9.1% 10.1% -18.1%
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 2.9July 4.6 2.8August 3.9 3.1September 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: +10.6% ($320,400 v. $289,800)Median Sale Price % Change: +12.2% ($275,000 v. $245,000)
For further explanation of this measure, see the second footnote on page 2.
2© Copyright RMLS™ 2014. All Rights Reserved.
AREA REPORT • 5/2014 Portland Metropolitan Area, Oregon
1 Percent change in number of pending sales this year compared to last year. The Current Month section compares May 2014 with May 2013. The Year-To-Date section compares 2014 year-to-date statistics through May with 2013 year-to-date statistics through May.
2 % Change is based on a comparison of the rolling average sale price for the last 12 months (6/1/13-5/31/14) with 12 months before (6/1/12-5/31/13).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
ive
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ings
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N Portland 206 167 33 146 18.7% 114 304,200 52 677 561 6.7% 484 282,200 265,800 15.1% 4 220,300 8 163,900 13 408,400
142
NE Portland 418 376 44 273 -16.0% 220 360,600 56 1,372 1,082 -12.7% 909 348,800 299,000 11.7% 14 375,900 23 125,300 28 364,500
143
SE Portland 592 443 63 349 -2.2% 300 307,000 45 1,792 1,438 2.3% 1,217 295,300 250,000 14.5% 12 474,800 22 148,200 55 471,900
144 Gresham/
Troutdale 503 238 49 204 12.1% 151 247,500 104 1,053 750 9.8% 602 234,000 224,300 10.9% 5 177,400 27 130,100 15 330,400
145 Milwaukie/
Clackamas 589 353 70 239 1.3% 219 301,500 52 1,318 946 -5.9% 763 299,500 280,000 12.9% 2 401,800 55 161,700 7 357,400
146 Oregon City/
Canby 464 243 39 163 -15.1% 129 295,500 84 894 634 -3.8% 521 293,100 278,000 14.4% 2 225,000 33 215,000 6 279,300
147 Lake Oswego/
West Linn 515 256 51 161 -14.4% 139 532,100 74 1,037 650 -11.3% 524 526,100 455,600 7.2% 1 712,500 16 370,800 3 428,700
148
W Portland 737 475 81 328 -2.7% 276 463,500 57 1,830 1,307 -3.6% 1,091 465,000 379,800 6.1% 3 130,000 34 189,500 15 644,200
149
NW Wash Co. 302 220 41 128 -7.9% 133 399,000 53 797 585 -3.8% 523 411,600 379,000 8.0% - - 13 284,500 3 341,500
150 Beaverton/
Aloha 491 398 53 285 10.9% 235 284,800 46 1,440 1,064 -2.5% 876 272,600 250,000 13.7% 2 281,500 4 115,200 15 374,200
151 Tigard/
Wilsonville 584 369 59 282 13.3% 212 342,000 72 1,390 1,027 -9.4% 795 327,900 309,000 8.4% 4 781,400 18 303,800 4 502,800
152 Hillsboro/
Forest Grove 428 264 37 199 -1.0% 151 263,600 73 1,047 853 0.0% 706 257,700 235,000 10.9% 7 273,300 29 181,200 12 487,800
153
Mt. hood 97 31 6 18 100.0% 21 273,700 141 112 84 61.5% 75 256,600 237,500 23.1% 1 395,000 3 33,500 - -
155
Columbia Co. 316 121 13 68 0.0% 52 206,900 125 430 303 4.1% 220 201,700 197,000 23.1% 7 297,900 20 108,400 3 180,000
156
Yamhill Co. 616 238 40 146 27.0% 131 261,200 134 888 568 2.9% 466 255,600 219,400 12.1% 5 232,700 38 189,400 6 295,000
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
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
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
May
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Average and Median Sale Price
Average Sale Price Median Sale Price
$100,000$120,000$140,000$160,000$180,000$200,000$220,000$240,000$260,000$280,000$300,000
MAY JUNE JULY AUG SEPT OCT NOV DEC JAN FEB MAR APR MAY
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
$ 224,900
Yamhill County
$ 289,800N Portland
$ 329,500 NEPortland
$ 269,600 SEPortland
$ 229,900GreshamTroutdale
SandyCorbettFairview $ 244,900
Mt. Hood:Zigzag
WelchesRhododendron
WemmeBrightwood
Government Camp
$ 285,000Milwaukie/Gladstone/Boring/ClackamasEstacada
$ 275,000Oregon City
CanbyMolalla
Beavercreek
$ 472,500 Lake Oswego
West Linn
$ 380,000 West Portland
$ 375,000North Washington County
Sauvie Island
$ 263,000Beaverton
Aloha
$ 310,400 Tigard/Tualatin
SherwoodWilsonville
$ 235,000Hillsboro
Forest Grove
$ 210,200Columbia County
$219,000 Heights
$169,900Cent. Vancouver
$216,000Cascade Park
$211,7005 Corners
Orch.
$207,500HazelDell
Minnehaha
$255,000Felida
$282,000Salmon Creek
$298,700Camas/Washougal
$355,600
Brush Prairie
Hockinson
$303,700
Ridge�eld/La Center
$253,500
Battle Ground
$205,000
N/NE Clark County$241,900
Woodland
MEDIAN SALE PRICE May 2014
PORTLANDMETRO
6© Copyright RMLS™ 2014. All Rights Reserved.
SW WAShINGTON
MULTIPLE LISTING SERVICE
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, 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™.
Brian Houston, Chairman of the BoardKurt von Wasmuth, President/CEOHeather Andrews, Editor
© Copyright RMLS™ 2014. All Rights Reserved.
Lane County: FlorencePO Box 414
Florence, OR 97439(541) 902-2560
Fax: (541) 902-1341
Curry County16289 Hwy 101 S, Suite E
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
Corporate8338 NE Alderwood Rd, Suite 230
Portland, OR 97220(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
Salem4035 12th Street Cutoff SE, Suite 110
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 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
