Metro Portland, Oregon Ma - Moving to Portland

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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

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pr il A

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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

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ar Ja nu

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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

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ep te m

be

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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

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O ct ob

be

r

t ep te m

A

ug us

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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

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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

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be r

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be

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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.