RMLS oct market action report

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Portland Real Estate report from the latest RMLS stats

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RMLS oct market action report

  1. 1. A Publication of RMLS™, The Source for Real Estate Statistics in Your CommunityResidential Review: Metro Portland, Oregon October 2010 Reporting PeriodOctober Residential Highlights Sale Prices Inventory in Months* Comparing October 2010 to The average sale price for October 2008 2009 2010October 2009, closed sales decreased 2010 declined 2.4% compared to January 12.8 19.2 12.6by 35.7%. Pending sales and new October 2009. The median sale price February 10.4 16.6 12.9listings also fell by 21.5% and 9.4%, also fell 4.7%. March 9.1 12 7.8respectively. The number of closed April 10.3 11 7.3 On a month-to-month basis,sales and new listings are the lowest May 9.2 10.2 7 c o m p a r i n g O c t o b e r 2 010 t o June 9.5 8.2 7.3they have been in October in a September 2010, the average sale July 10 7.3 10.8comparison of the past three years price went down 1.1% ($276,800 August 9.9 7.8 11(see graphs on pages 3 and 4). v. $279,900) and the median sale September 10.4 7.6 10.5 A comparison of October price also dropped 2.7% ($233,500 October 11.1 6.5 10.72010 with the previous month, v. $240,000). November 15 7.1September 2010, shows closed sales December 14.1 7.7 Year-to-Datedecreased by 7.7% (1,292 v. 1,399). *Inventory in Months is calculated by dividing When comparing January- the Active Listings at the end of the month inAdditionally, pending sales grew by October 2010 with the same period question by the number of closed sales for3% (1,632 v. 1,584), and new listings in 2009, closed sales increased 3.7%. that month.fell by 12.1% (3,119 v. 3,549). Pending sales were 3.4% lower, but Percent Change of 12-Month Sale Price At the month’s rate of sales, the new listings were up 4%. Compared With The Previous 12 Months13,805 active residential listings AFFORDABILITY: According to a formula from Average Sale Price % Change:would last approximately 10.7 the National Association of REALTORS® , housing -3.3% ($283,100 v. $292,900)months. Inventory in October 2010 in the Portland metro area remains affordable for families earning the median income. Read more Median Sale Price % Change:rose by 4.2 months compared to on page 7. -3.6% ($240,000 v. $249,000)October 2009 (6.5 months). For further explanation of this measure, see the second footnote on page 2. Portland Metro Total Residential New Pending Closed Average Median Market Highlights Listings Sales Sales Sale Price Sale Price Time October 3,119 1,632 1,292 276,800 233,500 131 2010 Year-to-date 41,051 17,167 16,033 283,400 240,000 130 October 3,443 2,079 2,009 283,500 245,000 135 2009 Year-to-date 39,490 17,775 15,467 292,000 249,900 143 Change October -9.4% -21.5% -35.7% -2.4% -4.7% -3.3% Year-to-date 4.0% -3.4% 3.7% -2.9% -4.0% -8.7% *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™ 2010. All Rights Reserved.
  2. 2. AREA REPORT • 10/2010 Metro Portland & Adjacent Regions, Oregon RESIDENTIAL COMMERCIAL LAND MULTIFAMILY Current Month Year-To-Date Year-To-Date Year-To-Date Year-To-Date 1 Pending Sales 2010 v. 2009 Pending Sales 2010 v. 2009 2 Expired/Canceled Listings Avg. Sale Price % Change Pending Sales 2010 Pending Sales 2010 3 Average Sale Price Average Sale Price Average Sale Price Average Sale Price Average Sale Price Total Market Time Median Sale Price Active Listings Closed Sales Closed Sales Closed Sales Closed Sales Closed Sales New Listings New Listings 141 N Portland 535 155 147 70 -36.9% 45 239,100 96 1,813 719 -18.6% 645 231,600 225,000 -1.2% 7 239,300 23 79,200 17 281,600 142 NE Portland 1,061 337 248 157 -31.1% 137 279,200 132 3,992 1,772 -4.5% 1,671 284,700 249,000 -1.3% 18 368,800 28 101,300 40 381,100 143 SE Portland 1,413 397 315 212 -34.4% 155 225,300 90 5,005 2,241 -11.2% 2,110 238,100 208,000 -3.4% 24 366,800 34 182,300 74 430,300 Gresham/ 144 Troutdale 968 186 168 126 -10.0% 90 214,000 106 2,758 1,149 -1.5% 1,059 213,900 202,000 -3.8% 9 250,300 40 97,500 23 248,900 Milwaukie/ 145 Clackamas 1,104 263 188 127 -6.6% 111 262,300 132 3,113 1,276 -3.5% 1,180 262,800 240,000 -6.7% 2 123,900 60 104,700 13 184,900 Oregon City/ 146 Canby 816 142 128 68 -32.0% 62 251,300 143 2,114 824 -1.6% 790 257,500 230,000 -8.4% 12 224,000 34 139,000 7 317,700 Lake Oswego/ 147 West Linn 956 186 187 84 -16.0% 72 414,200 209 2,596 936 10.6% 886 436,700 385,000 -8.0% 4 378,800 31 253,300 2 417,500 148 W Portland 1,676 351 343 211 -5.4% 146 411,100 175 4,957 1,944 11.0% 1,786 409,900 340,000 -5.0% 4 592,300 28 198,800 19 525,600 149 NW Wash Co. 591 137 100 87 26.1% 69 375,300 110 1,877 874 9.5% 819 368,100 338,000 -2.8% 3 168,000 18 291,700 5 274,000 Beaverton/ 150 Aloha 1,201 289 220 143 -35.9% 114 207,600 120 3,787 1,576 -13.4% 1,484 240,800 217,000 -0.8% 6 209,800 17 381,300 27 254,000 Tigard/ 151 Wilsonville 1,137 261 215 126 -16.0% 110 297,800 126 3,330 1,415 0.1% 1,338 304,200 278,500 -4.5% 3 201,700 30 250,900 19 245,900 Hillsboro/ 152 Forest Grove 856 187 139 95 -31.7% 88 216,900 127 2,558 1,203 -5.5% 1,128 228,100 209,000 -7.6% 9 265,000 32 349,600 20 172,800 153 Mt. Hood 142 22 27 13 -23.5% 8 230,500 70 290 89 -3.3% 81 207,000 180,000 -19.7% - - 10 108,200 - - 155 Columbia Co. 510 65 79 46 0.0% 33 174,700 127 1,089 398 -6.6% 373 185,000 178,400 -9.4% 4 192,000 15 124,000 4 223,300 156 Yamhill Co. 839 141 148 67 -9.5% 52 210,200 157 1,772 751 -1.8% 683 217,400 192,000 -6.9% 8 204,900 29 139,000 9 201,600 168-178 Marion/Polk Counties 1,160 175 188 81 -24.3% 65 177,300 171 2,216 748 -12.0% 697 199,100 176,000 -5.4% 10 274,800 59 76,400 14 454,500 180-195 North Coastal 200 Counties 1,585 179 239 76 -10.6% 54 276,700 148 2,405 710 12.7% 640 279,200 225,000 -4.9% 18 482,900 95 158,200 12 234,7001 Percent change in number of pending sales this year compared to last year. The Current Month section compares October 2010 with October 2009. The Year-To- Date section compares year-to-date statistics from October 2010 with year-to-date statistics from October 2009.2 % Change is based on a comparison of the rolling average sale price for the last 12 months (11/1/09-10/31/10) with 12 months before (11/1/08-10/31/09).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. 2 © Copyright RMLS™ 2010. All Rights Reserved.
  3. 3. ACTIVE Active Residential Listings RESIDENTIAL20000 LISTINGS18000 PORTLAND, OR16000 This graph shows the active1400012000 residential listings over the10000 8000 past three calendar years 6000 in the greater Portland, 4000 Oregon metropolitan area. 2008 2009 2010 TOTAL ACTIVE Total Active Listings LISTINGS PORTLAND, OR 25000 22500This graph shows the 20000total active listings over 17500 15000the past three calendar 12500 10000years in the greater 7500Portland, Oregon 5000metropolitan area. Total Active Listings 2008 Total Active Listings 2009 Total Active Listings 2010 NEW LISTINGS New Listings PORTLAND, OR 6,000 This graph shows the 5,000 new residential listings 4,000 over the past three 3,000 2,000 calendar years in the 1,000 greater Portland, Oregon 0 metropolitan area. 2008 2009 2010 3 © Copyright RMLS™ 2010. All Rights Reserved.
  4. 4. PENDING LISTINGS Pending Sales PORTLAND, OR3,500 This graph represents3,000 monthly accepted offers2,500 in the Portland, Oregon2,0001,500 metropolitan area over1,000 the past three calendar 500 years. 0 2008 2009 2010 CLOSED SALES Closed Sales PORTLAND, ORThis graph shows the 2,500closed sales over the past 2,000three calendar years in 1,500the greater Portland, 1,000Oregon metropolitan 500area. 0 2008 2009 2010 Average Market Time DAYS ON MARKET 180 PORTLAND, OR 160 This graph shows the 140 120 average market time for 100 80 sales in the Portland, 60 40 Oregon metropolitan area. 20 *As of August 2008, graph 0 now reports “Total Days on Market” - for details 2008 2009 TMT 2008 TMT 2010 TMT read footnotes on page 2. 4 © Copyright RMLS™ 2010. All Rights Reserved.
  5. 5. AVERAGE SALE This graph represents the average sale price for all homes sold in the Portland, PRICE Oregon metropolitan area. PORTLAND, OR Average Sale Price $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 Oct-00 Oct-01 Oct-02 Oct-03 Oct-04 Oct-05 Oct-06 Oct-07 Oct-08 Oct-09 Oct-10 Apr-01 Apr-02 Apr-03 Apr-04 Apr-05 Apr-06 Apr-07 Apr-08 Apr-09 Apr-10 Median Sale Price: Portland, OR & Clark Co., WA MEDIAN SALE PRICE260000 PORTLAND, OR240000 This graph shows the220000200000 median sale price over180000 the past 12 months in the160000 greater Portland, Oregon140000 metropolitan area and120000 Clark County.100000 OCT NOV DEC JAN FEB MAR APR MAY JUNE JULY AUG SEPT OCT Clark County Metro Portland, OR 5 © Copyright RMLS™ 2010. All Rights Reserved.
  6. 6. MEDIAN SALE PRICEOctober 2010 SW WASHINGTON $250,000 $214,300 Woodland N/NE Clark County $215,200PORTLAND $241,500 Battle Ground Ridgefield/La Center METRO $ 156,800 Columbia County $201,000 $254,900 Salmon Creek Brush Prairie $221,500 Hockinson Felida $180,000 $ 345,000 Hazel $165,000 Dell 5 Corners Minnehaha Orch. North Washington County $158,000 $179,000 Sauvie Island Cent. Vancouver Cascade Park $192,200 Heights $225,900 $240,000 N Portland Camas/Washougal $ 241,500 NE $ 200,300 Portland $ 316,800 Hillsboro West $ 190,500 $ 182,600 Gresham Forest Grove Portland $ 195,200 SE Troutdale Portland Sandy Beaverton Corbett Aloha $ 235,000 Fairview $ 170,000 Milwaukie/Gladstone/ Mt. Hood: Boring/Clackamas Zigzag Estacada $ 265,500 $ 383,000 Welches Rhododendron Tigard/Tualatin Wemme Sherwood Lake Oswego Brightwood Wilsonville West Government Camp Linn $ 193,500 Yamhill County $ 238,000 Oregon City Canby Molalla Beavercreek 6 © Copyright RMLS™ 2010. All Rights Reserved.
  7. 7. MULTIPLE LISTING SERVICE MEDIAN SALE This graph represents the median sale price for all Corporate 825 NE Multnomah, Suite 270 PRICE CONDOS condos sold in the last three calendar years in the Portland, OR 97232 (503) 236-7657 PORTLAND, OR Fax: (503) 230-0689 Portland, Oregon metropolitan area. Southwest Washington 1514 Broadway, Suite 101 Vancouver, WA 98663 Median Condo Sale Price (360) 696-0718 Fax: (360) 696-9342 $250,000 Salem 2110 Mission St. SE, Suite 305 Salem, OR 97302 $225,000 (503) 587-8810 Fax: (503) 585-3817 Lane County: Eugene $200,000 2139 Centennial Plaza Eugene, OR 97401 $175,000 (541) 686-2885 Fax: (541) 484-3854 Lane County: Florence $150,000 PO Box 414 Florence, OR 97439 (541) 902-2560 Fax: (541) 902-1341 Douglas County 2008 2009 2010 3510 NE Edenbower Roseburg, OR 97470 (541) 673-3571 Fax: (541) 673-6581 AFFORDABILITY This graph shows affordability for housing in the Curry County PO Box 6307 PORTLAND, OR Portland, Oregon metropolitan area in September 2010. Brookings, OR 97415 (541) 469-0219 Fax: (541) 469-9695 Mid-Columbia PO Box 1088 Affordability Index Hood River, OR 97031 (541) 436-2956 180 Fax: (541) 387-6657 160 Eastern Oregon 140 PO Box 751 Hermiston, OR 97838 120 (541) 567-5186 100 Fax: (541) 289-7320 80 Coos County 1946 Sherman Ave., Suite 101 60 North Bend, OR 97459 40 (541) 751-1070 Fax: (541) 751-1083 20 0 Mar-07 Mar-08 Mar-09 Mar-10 Mar-04 Jun-04 Mar-05 Jun-05 Mar-06 Jun-06 Jun-07 Jun-08 Jun-09 Jun-10 Sep-03 Dec-03 Sep-04 Dec-04 Sep-05 Dec-05 Sep-06 Dec-06 Sep-07 Sep-08 Sep-09 Sep-10 Dec-07 Dec-08 Dec-09 The statistics presented in MarketAction are compiled monthly based onfigures generated by RMLS™. Statistics reflect reported activity forthe greater Portland, Oregon metropolitanarea, to include Multnomah, Washington,Clackamas, Yamhill, & Columbia counties; AFFORDABILITY - According to a formula from the National Association of REALTORS®, buying a house in the PortlandLane, Douglas, Coos & Curry Counties in metro area is affordable for a family earning the median income. A family earning the median income ($71,200 in 2010, perOregon; portions of other Oregon Counties; HUD) can afford 155% of a monthly mortgage payment on a median priced home ($240,000 in September). The formulaand Clark, Cowlitz & Pacific Counties in assumes that the buyer has a 20% down payment and a 30 year fixed rate of 4.35% (per Freddie Mac).Washington. RMLS™ was formed by area Boards andAssociations of REALTORS® in 1991. Gary Whiting, Chairman of the Board E-mail subscriptions are available for$45 per year by contacting RMLS™, (503) Kurt von Wasmuth, President/CEO236-7657. Reproduction of any portion of Kelsey Brunson, Editorthis copyrighted material is prohibitedwithout prior approval of RMLS™. Danny Gottleib, Assistant Editor © Copyright RMLS™ 2010. All Rights Reserved.

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