May 31, 2009 - August. Septem ber. O ctober. Novem ber. Decem ber. 2007. 2008. 2009. NEW LISTINGS. PORTLAND, OR. This gr
A Publication of RMLS™, The Source for Real Estate Statistics in Your Community Residential Review: Metro Portland, Oregon May Residential Highlights Sales activity in May for the Portland Metro area continued to march upward compared to the prior month, but lagged behind 2008 levels. Comparing May 2009 with the same month in 2008, pending sales were down 7.4% and closed sales decreased 23.4%. New listings also dropped 25.1%. See residential highlights table below. On the other hand, comparing May 2009 with April 2009, pending sales grew 5.8% (1,967 v. 1,860). Closed sales also rose 9.6% (1,427 v. 1,302). New listings increased 1.9% (3,879 v. 3,808). Inventory dropped to 10.2 months, down from 11 months in April - the fourth straight month of decline. Active residential listings in May rose to 14,493 - up from 14,328 in April.
Change
2008
2009
Portland Metro Residential Highlights May
May 2009 Reporting Period
Active listings appear to be increasing at a slower rate than usual for this time of year (see Active Residential Listings graph on page 3).
Year-to-Date Comparing January-May 2009 with the same period in 2008, closed sales were down 28.1% and pending sales decreased 17.5%. New listings also dropped 23.8%. Sale Prices The average sale price for May 2009 was down 13% compared to May 2008, while the median sale price also dropped 13%. See residential highlights table below. Month-to-month, the average sale price and median sale price both posted small gains when compared with April levels; the average sale price was up 0.1% ($291,400 v. $291,100) and the median sale price was up 0.04% ($250,000 v. $249,900).
New Listings
Pending Sales
Closed Sales
Average Sale Price
Inventory in Months* 2007 2008 January 6.2 12.8 February 5.2 10.4 March 3.8 9.1 April 4.4 10.3 May 4.5 9.2 June 5 9.5 July 5.7 10 August 6.2 9.9 September 8.6 10.4 October 8.4 11.1 November 8.3 15 December 8.5 14.1
*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. Percent Change of 12-Month Sale Price Compared With The Previous 12 Months Average Sale Price % Change: -8.1 ($315,500 v. $343,200) Median Sale Price % Change: -7.2% ($267,000 v. $287,800)
For further explanation of this measure, see the second footnote on page 2.
Median Sale Price
Current Listing Market Time
Total Market Time
3,879
1,967
1,427
291,400
250,000
147
19,556
7,633
5,653
293,800
250,000
151
5,182
2,124
1,863
335,000
287,500
72
Year-to-date
25,650
9,253
7,862
335,700
280,000
79
May
-25.1%
-7.4%
-23.4%
-13.0%
-13.0%
N/A
N/A
Year-to-date
-23.8%
-17.5%
-28.1%
-12.5%
-10.7%
N/A
N/A
Year-to-date May
*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™ 2009. All Rights Reserved.
2009 19.2 16.6 12 11 10.2
AREa REPORT • 5/2009 Metro Portland & Adjacent Regions, Oregon RESIDENTIAL
-17.5%
Year-To-Date
Average Sale Price
Closed Sales
Average Sale Price
Closed Sales
Average Sale Price
Closed Sales
2
Avg. Sale Price % Change
Median Sale Price
Average Sale Price
Closed Sales
Pending Sales 2009
New Listings
4
Total Market Time
Average Sale Price
Closed Sales
Pending Sales 2009
Pending Sales 2009 v. 2008
Expired/Canceled Listings
3
New Listings
Active Listings 141 142
99
Year-To-Date
59
228,200
120
837
371
-28.7%
257
232,700
230,000
-6.4%
1
7,500
7
164,500
9
249,300
1,052
369 179
185
-15.1% 145
286,200
96
1,802
780
-19.7%
589
294,600
258,000
-4.3%
7
417,500
7
141,100
18
408,600
SE Porltand
1,504
497 273
279
-6.4% 197
245,800
110
2,389
1,094
-16.6%
801
241,800
215,000
-7.7%
8
248,600
23
126,100
33
355,800
Gresham/ Troutdale
1,052
257 141
113
86
230,500
154
1,320
499
-10.3%
368
228,700
215,000
-11.3%
3
329,200
7
122,700
4
238,400
Milwaukie/ Clackamas
1,030
224 153
153
2.0% 114
285,500
175
1,436
616
-3.4%
455
293,300
265,000
-7.5%
1
300,000
11
149,400
3
279,200
Oregon City/ Canby
818
208 126
90
2.3%
68
244,800
155
1,043
364
-11.4%
278
286,400
246,000
-11.7%
2
247,500
17
231,400
6
227,800
Lake Oswego/ West Linn
1,086
285 162
109
9.0%
49
418,200
150
1,239
336
-17.4%
229
469,400
390,000
-10.2%
1
535,000
7
240,700
W Portland
1,895
499 240
220
-2.7% 161
424,700
165
2,361
753
-27.7%
546
438,900
357,000
-2.2%
1
940,000
14
159,700
5
668,000
74
411,400
190
790
369
-18.5%
294
375,200
350,000
-5.9% -
9
147,000
3
246,000
90
-25.0%
-
Beaverton/ Aloha
1,157
323 154
213
13.9% 154
249,700
133
1,720
741
-13.3%
548
249,200
230,000
-7.6%
3
250,300
3
145,000
9
294,900
Tigard/ Wilsonville
1,251
316 166
143
-14.9% 114
313,900
161
1,788
592
-19.8%
458
318,200
298,300
-7.8%
1
80,000
9
188,300
3
1,168,300
Hillsboro/ Forest Grove
985
281 131
123
-15.8%
99
265,800
168
1,344
561
-13.6%
424
250,300
229,500
-9.2%
5
258,900
20
41,800
6
252,900
Mt. Hood
145
20
30
6
-33.3%
7
259,100
124
130
28
-46.2%
28
281,100
264,800
-1.4% -
1
179,900
Columbia Co.
511
99
60
46
-8.0%
33
201,100
175
471
179
-22.2%
122
185,600
178,900
-12.5%
1
450,000
15
129,600
1
260,000
Yamhill Co.
910
175
82
98
-13.3%
67
225,900
196
886
350
-16.5%
256
235,800
215,000
-10.4%
4
512,900
10
279,900
5
349,900
Marion/Polk Counties
1,186
187 110
77
4.1%
59
224,500
188
1,042
314 -36.6%
231
219,800
199,000
-10.3%
1
444,500
4
113,300
5
223,100
North Coastal Counties
1,584
212 134
57
-12.3%
44
292,700
95
1,200
244 -15.9%
183
276,900
240,000
-14.2%
2
340,000
31
107,000
2
2,218,500
156
155
153
150
70
151
161
-
152
575
-
168-178
NW Wash Co.
-13.7%
180-195
149
148
143
NE Portland
144
85
Year-To-Date
145
165
MULTIFAMILY
146
522
LAND
147
N Portland
Pending Sales 2009 v. 2008
Year-To-Date
1
Current Month
COMMERCIAL
-
-
-
1
Percent change in number of pending sales this year compared to last year. The Current Month section compares May 2009 with May 2008. The YearTo-Date section compares year-to-date statistics from May 2009 with year-to-date statistics from May 2008.
2
% Change is based on a comparison of the rolling average sale price for the last 12 months (6/1/08-5/31 /09) with 12 months before (6/1/07-5/31/08).
3
As of October 2007, the way that New Listing data is generated has changed to ensure accuracy.
4
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™ 2009. All Rights Reserved.
20000
ACTIVE RESIDENTIAL LISTINGS
18000
Portland, OR
16000
This graph shows the active
Active Residential Listings
14000
residential listings over the
12000
past three calendar years
10000 8000
in the greater Portland,
6000
Oregon metropolitan area.
2008
be r
D ec
em
em
N ov
S 2007
be r
er
be
O ct ob
r
t ep te m
A
ug us
Ju ly
Ju ne
ay M
pr il A
ar ch M
ry br ua
Fe
Ja nu
ar
y
4000
2009
TOTAL ACTIVE LISTINGS
Total Active Listings 25000
PORTLAND, OR
22500
This graph shows the
20000
total active listings over
17500
the past three calendar
15000 12500
years in the greater
Total Active Listings 2007
Total Active Listings 2008
be r em
D ec
em
be r
er N ov
O ct ob
be
r
t ep te m
S
Fe
A
ug us
Ju ly
Ju ne
ay M
A
ry br ua
ar Ja nu
h
5000
ar c
metropolitan area.
M
7500
y
Portland, Oregon
pr il
10000
Total Active Listings 2009
NEW LISTINGS
New Listings
PORTLAND, OR
7,000
This graph shows the
6,000
new residential listings
5,000
over the past three
4,000
calendar years in the
3,000
greater Portland, Oregon
2,000
metropolitan area.
1,000
2007
2008
be r em
D ec
em
be r
er
O ct ob
N ov
S
ep te m
be
r
t ug us A
Ju ly
Ju ne
ay M
pr il A
ar ch M
ry br ua
Fe
Ja nu
ar
y
0
2009
3
© Copyright RMLS™ 2009. 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
metropolitan area over
1,500
the past three calendar
1,000
years.
500
2008
be r em
D ec
em
N ov
S 2007
be r
er
O ct ob
be
r
t ep te m
A
ug us
Ju ly
Ju ne
M
ay
pr il A
ar ch M
ry br ua
Fe
Ja nu
ar
y
0
2009
CLOSED SALES
Closed Sales
PORTLAND, OR 3,000
This graph shows the
2,500
closed sales over the past
2,000
three calendar years in the greater Portland,
1,500
Oregon metropolitan
1,000 500
area.
2007
2008
be r em
D ec
em
be r
er N ov
O ct ob
be
r
t S
ep te m
A
ug us
Ju ly
Ju ne
ay M
pr il A
ar ch M
ry br ua
Fe
Ja nu
ar
y
0
2009
DAYS ON MARKET
Average Market Time 180 160
This graph shows the
140
average market time for
120
sales in the Portland,
100
Oregon metropolitan area.
80 60
*As of August 2008, graph
40
now reports “Total Days
20 0
2007
2008
2008 TMT
be r em
D ec
em
be r
er
O ct ob
N ov
S
ep te m
be
r
t ug us A
Ju ly
Ju ne
ay M
pr il A
h ar c M
ry br ua
Fe
Ja nu
ar
y
on Market” - for details
2009 TMT
4
© Copyright RMLS™ 2009. All Rights Reserved.
read footnotes on page 2.
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 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000
M
ay -
N 99 ov M 99 ay N 00 ov M 00 ay N 01 ov M 01 ay N 02 ov M 02 ay N 03 ov M 03 ay N 04 ov M 04 ay N 05 ov M 05 ay N 06 ov M 06 ay N 07 ov M 07 ay N 08 ov M 08 ay -0 9
$100,000
Average Sale Price
MEDIAN SALE PRICE
Median Sale Price: Portland, OR & Clark Co., WA 300000
PORTLAND, OR
280000 260000 240000
This graph shows the
220000
median sale price over
200000
the past 12 months in the
180000
greater Portland, Oregon
160000 140000
metropolitan area and
120000
Clark County,
100000 JAN
FEB
MAR
APR
MAY
JUNE JULY
Clark County
AUG
SEPT
OCT
NOV
Metro Portland, OR
5
© Copyright RMLS™ 2009. All Rights Reserved.
DEC
Washington.
Median sale price May 2009
SW Washington
$332,500
$369,000
Woodland
N/NE Clark County
$220,000 $290,000
Battle Ground
Ridgefield/La Center
Portland $202,900 Columbia County
Metro
$247,500 Salmon Creek
$290,000 Brush Prairie Hockinson
$233,800 Felida
$210,000 Hazel Dell Minnehaha
$378,500 North Washington County Sauvie Island
5 Corners Orch.
$186,900 Cent. Vancouver
$224,500 Beaverton Aloha
$270,000 Tigard/Tualatin Sherwood Wilsonville
$367,500 West Portland
$204,900 Cascade Park
$134,500 Heights
$229,000 N Portland
$249,000 Hillsboro Forest Grove
$202,900
$298,700 Camas/Washougal $255,000 NE Portland $219,900 SE Portland $265,000
$350,000
Milwaukie/Gladstone/ Boring/Clackamas Estacada
Lake Oswego West Linn
$215,000 $220,000 Oregon City Canby Molalla Beavercreek
Yamhill County
6
© Copyright RMLS™ 2009. All Rights Reserved.
$223,400 Gresham Troutdale Sandy Corbett Fairview
$222,300 Mt. Hood: Zigzag Welches Rhododendron Wemme Brightwood Government Camp
MULTIPLE LISTING SERVICE
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 The statistics presented in Market Action are compiled monthly based on figures generated by RMLS™. Statistics reflect reported activity for the greater Portland, Oregon metropolitan area, to include Multnomah, Washington, Clackamas, Yamhill, & Columbia counties; Lane, Douglas, Coos & Curry Counties in Oregon; portions of other Oregon Counties; and Clark, Cowlitz & Pacific Counties in Washington. 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™.
$250,000
$225,000
$200,000
$175,000
Ju ly
Ju ne
$150,000
2009
ACTIVE & SOLD CONDOS PORTLAND, OR
Au gu st Se pt em be r O ct ob er N ov em be r D ec em be r
Douglas County Oregon 1299 NW Ellan, Suite 3 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
Median Condo Sale Price
M ay
Lane County: Florence PO Box 414 Florence, OR 97439 (541) 902-2560 Fax: (541) 902-1341
condos sold in the last three calendar years in the
Ap ri l
Lane County: Eugene 2139 Centennial Plaza Eugene, OR 97401 (541) 686-2885 Fax: (541) 484-3854
This graph represents the median sale price for all Portland, Oregon metropolitan area.
ch
Salem 2110 Mission St. SE, Suite 305 Salem, OR 97302 (503) 587-8810 Fax: (503) 585-3817
PORTLAND, OR
M ar
Southwest Washington 1514 Broadway, Suite 101 Vancouver, WA 98663 (360) 696-0718 Fax: (360) 696-9342
MEDIAN SALE PRICE CONDOS
Ja nu ar y Fe br ua ry
Corporate 825 NE Multnomah, Suite 270 Portland, OR 97232 (503) 236-7657 Fax: (503) 230-0689
2008
2007
This graph shows active and sold condos for the Portland, Oregon metropolitan area through May. Active & Closed Condos
3,000 2,500 2,000 1,500 1,000 500 0
8 -0 ay M
08 nJu
8 08 08 l-0 pgJu Au Se
tOc
08
08 08 cvDe No
Active Listings
9 09 09 -0 bnar Ja M Fe
9 9 -0 r-0 ay Ap M
Closed Sales
Gary Taylor, Chairman of the Board Beth Murphy, President Kurt von Wasmuth, Senior Vice President Natalie Middleton, Editor Joel Weiler, Assistant Editor © Copyright RMLS™ 2009. All Rights Reserved.
