Portland's Monthly Action Report - Dec. 2014
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A Publication of RMLS ™ , The Source for Real Estate Statistics in Your Community © Copyright RMLS™ 2015. All Rights Reserved. Residential Review: Metro Portland, Oregon December 2014 Reporting Period December Residential Highlights The Portland metro area closed the year with an uptick in closed sales this December. The 2,239 closings stood 25.6% higher than the 1,782 closings posted in December 2013 and 15.6% higher than the 1,937 closings posted just last month. In fact, this was the best December for closings in the Portland metro area since 2005, when there were 2,536! Pending sales (1,667) showed a 20.3% cooler month when compared to November (2,091) but were 12.3% ahead of the 1,484 offers accepted last December. Similarly, new listings (1,540) decreased 19.9% compared to November (1,922) but fared 15.5% beer than the 1,333 new listings posted in December 2013. There are currently 5,146 active residential listings in the Portland metro area. Total market time increased in December to 76 days. Inventory decreased to to 2.3 months. End-of-Year Summary Portland metro activity ended 2014 higher than 2013 numbers in all measures. New listings (37,654) were up 5.0%, pending sales (28,220) were up 4.3%, and closed sales (27,752) were up 3.6% during the entirety of 2014 compared to the same time period in 2013. Average and Median Sale Prices Prices were higher in 2014 than in 2013. The average price in 2014 was $333,000, up 7.2% from 2013 when the average was $310,600. In the same comparison, the median also rose 7.7% from $265,000 in 2013 to $285,500 during 2014. New Listings Pending Sales Closed Sales Average Sale Price Median Sale Price Total Market Time December 1,540 1,667 2,239 331,600 290,000 76 November 1,922 2,091 1,937 336,000 287,000 69 Year-to-date 37,654 28,220 27,752 333,000 285,500 70 December 1,333 1,484 1,782 308,700 267,300 87 Year-to-date 35,858 27,065 26,782 310,600 265,000 83 December 15.5% 12.3% 25.6% 7.4% 8.5% -13.1% Prev Mo 2014 -19.9% -20.3% 15.6% -1.3% 1.0% 10.1% Year-to-date 5.0% 4.3% 3.6% 7.2% 7.7% -15.5% Portland Metro Residential Highlights 2014 2013 Change *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 2.8 July 4.6 2.8 2.9 August 3.9 3.1 3.0 September 4.6 3.7 3.1 October 3.8 3.4 2.8 November 4.2 3.7 3.2 December 3.6 3.2 2.3 Percent Change of 12-Month Sale Price Compared With The Previous 12 Months Average Sale Price % Change: +7.2% ($333,000 v. $310,600) Median Sale Price % Change: +7.7% ($285,500 v. $265,000) For further explanation of this measure, see the second footnote on page 2.
description
Published by our local MLS mid-January, these are the most up-to-date numbers for Portland. Inventory levels are at their lowest that I have ever seen. Buyers are armed with extremely low-interest loan pre-approvals. This is the PERFECT STORM for you to sell your home. Have you thought of upsizing or downsizing recently. Call me for more information on what your home may be worth and to talk about your options.
Transcript of Portland's Monthly Action Report - Dec. 2014
A Publication of RMLS™, The Source for Real Estate Statistics in Your Community
© Copyright RMLS™ 2015. All Rights Reserved.
Residential Review: Metro Portland, Oregon December 2014 Reporting Period
December Residential HighlightsThe Portland metro area closed
the year with an uptick in closed sales this December. The 2,239 closings stood 25.6% higher than the 1,782 closings posted in December 2013 and 15.6% higher than the 1,937 closings posted just last month. In fact, this was the best December for closings in the Portland metro area since 2005, when there were 2,536!
Pending sales (1,667) showed a 20.3% cooler month when compared to November (2,091) but were 12.3% ahead of the 1,484 offers accepted last December. Similarly, new listings (1,540) decreased 19.9% compared to November (1,922) but fared 15.5% better than the 1,333 new listings posted in December 2013.
There are currently 5,146 active residential listings in the Portland metro area. Total market time
increased in December to 76 days. Inventory decreased to to 2.3 months.End-of-Year Summary
Portland metro activity ended 2014 higher than 2013 numbers in all measures. New listings (37,654) were up 5.0%, pending sales (28,220) were up 4.3%, and closed sales (27,752) were up 3.6% during the entirety of 2014 compared to the same time period in 2013. Average and Median Sale Prices
Prices were higher in 2014 than in 2013. The average price in 2014 was $333,000, up 7.2% from 2013 when the average was $310,600. In the same comparison, the median also rose 7.7% from $265,000 in 2013 to $285,500 during 2014.
New Listings
Pending Sales
ClosedSales
AverageSale Price
MedianSale Price
Total Market
Time
December 1,540 1,667 2,239 331,600 290,000 76
November 1,922 2,091 1,937 336,000 287,000 69
Year-to-date 37,654 28,220 27,752 333,000 285,500 70
December 1,333 1,484 1,782 308,700 267,300 87
Year-to-date 35,858 27,065 26,782 310,600 265,000 83
December 15.5% 12.3% 25.6% 7.4% 8.5% -13.1%
Prev Mo 2014 -19.9% -20.3% 15.6% -1.3% 1.0% 10.1%
Year-to-date 5.0% 4.3% 3.6% 7.2% 7.7% -15.5%
Portland MetroResidential Highlights
2014
2013
Cha
nge
*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 3.7 3.1October 3.8 3.4 2.8November 4.2 3.7 3.2December 3.6 3.2 2.3
Percent Change of 12-Month Sale Price Compared With The Previous 12 Months
Average Sale Price % Change: +7.2% ($333,000 v. $310,600)Median Sale Price % Change: +7.7% ($285,500 v. $265,000)
For further explanation of this measure, see the second footnote on page 2.
2© Copyright RMLS™ 2015. All Rights Reserved.
AREA REPORT • 12/2014 Portland Metropolitan Area, Oregon
1 Percent change in number of pending sales this year compared to last year. The Current Month section compares December 2014 with December 2013. The Year-To-Date section compares 2014 year-to-date statistics through December with 2013 year-to-date statistics through December.
2 % Change is based on a comparison of the rolling average sale price for the last 12 months (1/1/14-12/31/14) with 12 months before (1/1/13-12/31/13).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.
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N Portland 168 80 41 77 -10.5% 93 295,800 43 1,627 1,313 8.2% 1,314 291,600 278,100 9.4% 15 388,300 23 241,700 37 416,700
142
NE Portland 312 147 100 168 16.7% 222 346,900 60 3,445 2,728 -2.4% 2,671 348,600 305,000 6.9% 31 364,100 41 136,000 82 382,800
143
SE Portland 478 191 156 197 0.5% 287 300,500 56 4,453 3,457 8.0% 3,398 303,300 260,000 12.5% 44 510,400 66 154,800 142 470,000
144 Gresham/
Troutdale 392 102 102 109 26.7% 157 244,700 83 2,422 1,763 16.4% 1,733 243,100 228,800 8.5% 15 430,700 60 172,500 44 346,300
145 Milwaukie/
Clackamas 418 123 125 140 26.1% 197 305,200 79 3,109 2,283 5.8% 2,215 310,500 287,000 10.4% 11 350,500 105 167,900 22 334,600
146 Oregon City/
Canby 328 90 63 94 42.4% 100 308,900 121 1,970 1,500 7.9% 1,463 299,600 280,000 10.2% 6 274,800 103 191,600 18 266,500
147 Lake Oswego/
West Linn 348 79 110 81 6.6% 117 512,500 105 2,297 1,508 -1.4% 1,496 527,500 455,000 9.5% 3 479,500 54 355,800 14 393,800
148
W Portland 504 124 129 164 0.6% 232 475,500 71 4,143 3,014 -2.8% 2,994 470,200 394,800 5.9% 14 542,300 87 222,300 41 550,900
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NW Wash Co. 170 81 69 77 -8.3% 90 401,400 64 1,746 1,346 -1.2% 1,368 418,300 388,300 5.7% - - 45 269,500 5 334,900
150 Beaverton/
Aloha 388 160 105 187 33.6% 225 294,500 68 3,475 2,647 9.7% 2,592 277,300 255,000 6.7% 4 270,500 12 147,800 47 367,500
151 Tigard/
Wilsonville 432 117 93 127 1.6% 200 352,200 82 3,291 2,492 -0.4% 2,438 338,300 320,600 7.3% 7 660,400 38 389,300 11 398,000
152 Hillsboro/
Forest Grove 365 95 80 109 12.4% 149 279,200 73 2,457 1,937 0.5% 1,905 271,500 250,000 10.6% 20 267,500 56 189,300 37 358,400
153
Mt. Hood 76 10 19 15 7.1% 17 234,600 203 262 195 19.6% 192 239,400 221,300 5.1% 4 201,300 15 73,900 - -
155
Columbia Co. 287 57 46 40 8.1% 66 218,800 96 1,044 693 14.5% 665 211,900 200,000 11.9% 12 236,200 56 88,300 15 231,600
156
Yamhill Co. 480 84 83 82 39.0% 87 221,000 94 1,913 1,344 13.0% 1,308 253,100 219,900 5.0% 17 325,600 92 232,100 19 264,700
RESIDENTIAL COMMERCIAL LAND MULTIFAMILYCurrent Month Year-To-Date
Avg.
Sale
Pric
e % C
hang
e2
Year-To-Date Year-To-Date Year-To-Date
3© Copyright RMLS™ 2015. 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 7,438 6,963 6,131 5,146
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 9,483 8,959 8,098 6,839
6,000
7,000
8,000
9,000
10,000
11,000
12,000
13,000
Total Active Listings
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
New Listings
2012 2013 2014
© Copyright RMLS™ 2015. 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
1,000
1,500
2,000
2,500
3,000
3,500
Pending Sales
2012 2013 2014
0
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1,500
2,000
2,500
3,000
Closed Sales
2010
2011
2012
2013
2014
20
40
60
80
100
120
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160
Average Total Market Time
2012 TMT 2013 TMT 2014 TMT
© Copyright RMLS™ 2015. 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
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Average and Median Sale Price
Average Sale Price Median Sale Price
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
DEC JAN FEB MAR APR MAY JUNE JULY AUG SEPT OCT NOV DEC
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
$ 199,000
Yamhill County
$ 300,000N Portland
$ 300,000 NEPortland
$ 265,000 SEPortland
$ 230,000GreshamTroutdale
SandyCorbettFairview $ 252,000
Mt. Hood:Zigzag
WelchesRhododendron
WemmeBrightwood
Government Camp
$ 289,900Milwaukie/Gladstone/Boring/ClackamasEstacada
$ 290,000Oregon City
CanbyMolalla
Beavercreek
$ 440,000 Lake Oswego
West Linn
$ 405,000 West Portland
$ 354,900North Washington County
Sauvie Island
$ 263,000Beaverton
Aloha
$ 324,900 Tigard/Tualatin
SherwoodWilsonville
$ 260,000Hillsboro
Forest Grove
$ 209,500Columbia County
$240,000 Heights
$175,000Cent. Vancouver
$237,800Cascade Park
$205,5005 Corners
Orch.
$215,000HazelDell
Minnehaha
$295,900Felida
$353,000Salmon Creek
$304,700Camas/Washougal
$295,800
Brush Prairie
Hockinson
$283,000
Ridge�eld/La Center
$241,000
Battle Ground
$213,500
N/NE Clark County$190,300
Woodland
MEDIAN SALE PRICE December 2014
PORTLANDMETRO
6© Copyright RMLS™ 2015. All Rights Reserved.
SW WASHINGTON
MULTIPLE LISTING SERVICE
Randy Hunzeker, Chairman of the BoardKurt von Wasmuth, President/CEOHeather Andrews, Editor
© Copyright RMLS™ 2015. All Rights Reserved.
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Annual Sales Volume Report
Portland OR Metro Clark Co WA Lane Co OR
SALE VOLUMERESIDENTIAL
This graph shows annual residential sales volume for
Lane County, OR, Clark County, WA and Portland, OR.
This graph shows the number of active and closed
condos in the Portland, Oregon, metropolitan area.
ACTIVE & CLOSED CONDOS
PORTLAND, OR
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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]
