A Publication of RMLS, The Source for Real Estate Statistics in Your Community Residential Review: Metro, Oregon January Residential Highlights While not quite as dramatic as last month, sales activity in the metro area continued to show improvement in January 21 compared to the same month a year ago. Closed sales were up 34.7% compared to January 29 and pending sales rose 24.3%. However, new listings fell 6.2%. Pe nd i ng s a le s we r e a l s o up 34.5% (1,535 v. 1,141) when compared to December 29. On the other hand, closed sales fell 34.5% (986 v. 1,56) and new listings grew 87.1% (3,937 v. 2,14) driving inventory to double digits for the first time since May of 29. At the month s rate of sales, it would take approximately 12.6 months to sell the 12,449 active residential listings. Sale Prices The average sale price for Ja nuary 21 was dow n 5% compared to January 29, while the median sale price declined 4%. Compared to December 29, the average price decreased 3.7% ($282,4 v. $293,3) and the median fell.9% ($24, v. $242,2). Counties The greater Metro area reports in this newsletter include the five counties below. Each year we review the difference between the average sale price in each county. Average Change Sale Price 8 v. 9 Clackamas $336,1-1.6% Columbia $193,3-16.2% Multnomah $285,3-14.% Washington $281,3-11.1% Yamhill $227,3-14.8% January 21 Reporting Period Inventory in Months* January 12.8 19.2 12.6 February 1.4 16.6 March 9.1 12 April 1.3 11 May 9.2 1.2 June 9.5 8.2 July 1 7.3 August 9.9 7.8 September 1.4 7.6 October 11.1 6.5 November 15 7.1 December 14.1 7.7 *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 % Change: -11.7% ($289,2 v. $327,7) Median Sale Price % Change: -1.5% ($246, v. $275,) For further explanation of this measure, see the second footnote on page 2. Metro Residential Highlights New Listings Pending Sales Closed Sales Average Sale Price Median Sale Price Total Market Time 21 29 Change January 3,937 1,535 986 282,4 24, 145 Year-to-date 3,93 1,535 984 282,4 24, 145 January 4,196 1,235 732 297,2 25, 152 Year-to-date 4,196 1,235 732 297,2 25, 152 January -6.2% 24.3% 34.7% -5.% -4.% -4.7% Year-to-date -6.3% 24.3% 34.4% -5.% -4.% -4.7% *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 21. All Rights Reserved.
AREa REPORT 1/21 Metro & Adjacent Regions, Oregon RESIDENTIAL COMMERCIAL LAND MULTIFAMILY Current Month Active Listings New Listings 3 Expired/Canceled Listings Pending Sales 21 Pending Sales 21 v. 29 1 Total Market Time 4 New Listings Pending Sales 21 141 Pending Sales 21 v. 29 Median Sale Price Avg. Sale Price % Change 2 N 419 149 91 68 23.6% 32 241,3 56 149 68 23.6% 32 241,3 212,5-1.9% - - 4 66,3 2 272,6 142 NE 893 363 168 161 18.4% 97 276,2 144 363 161 18.4% 97 276,2 242,5-1.% 1 6, 4 99,1 4 244,2 143 SE Porltand 1,297 442 212 197 3.1% 146 228,5 14 441 197 3.1% 146 228,5 192,5-11.8% 1 14, 1 89,2 8 41,2 144 145 146 147 Gresham/ Troutdale 898 299 14 17 46.6% 72 211,8 12 298 17 46.6% 72 211,8 199, -14.% 1 255,2 3 18, - - Milwaukie/ Clackamas 919 337 155 19 16.% 6 259,9 13 337 19 16.% 59 263,2 249, -9.3% 1 95, 1 65, - - Oregon City/ Canby 725 26 13 84 25.4% 68 237,5 132 26 84 25.4% 68 237,5 215,8-12.3% 1 2, 6 161,3 - - Lake Oswego/ West Linn 92 275 16 75 53.1% 5 414,9 215 274 75 53.1% 5 414,9 355, -9.5% 1 5, 1 19, - - 148 W 1,527 45 271 149 43.3% 11 426,4 147 447 149 43.3% 19 427,4 31, -11.9% - - - - 3 844,3 149 NW Wash Co. 481 152 96 64 3.6% 45 377,5 175 152 64 3.6% 45 377,5 37, -9.3% - - 1 39, - - 15 151 152 Beaverton/ Aloha 1,9 389 188 155 19.2% 86 242,6 129 387 155 19.2% 86 242,6 225,9-11.9% - - 2 13,8 2 117,5 Tigard/ Wilsonville 1,17 32 194 133 47.8% 89 314, 184 321 133 47.8% 89 314, 287, -9.6% - - 1 262,4 2 225, Hillsboro/ Forest Grove 865 233 125 18 3.8% 6 262,6 114 233 18 3.8% 6 262,6 22, -11.4% - - 3 125, 2 192, 153 Mt. Hood 135 18 13 8 6.% 6 29,3 222 18 8 6.% 6 29,3 23,4-1.8% - - 1 117, - - 155 Columbia Co. 437 14 57 43 16.2% 25 171,8 119 14 43 16.2% 25 171,8 184, -15.8% - - 1 22, 1 155, 156 Yamhill Co. 97 2 15 74 45.1% 4 28,2 192 2 74 45.1% 4 28,2 22,4-15.4% 1 285, 2 78,5 - - 168-178 Marion/Polk Counties 1,1 178 145 65 35.4% 42 194, 142 177 65 35.4% 42 194, 174, -16.5% - - 3 165, 2 122,5 18-195 North Coastal Counties 1,258 218 142 71 18.8% 34 24,3 11 218 71 18.8% 34 24,3 29, -17.% - - 4 117,5 - - 1 Percent change in number of pending sales this year compared to last year. The Current Month section compares January 21 with January 29. The Year-To- Date section compares year-to-date statistics from January 21 with year-to-date statistics from January 29. 2 % Change is based on a comparison of the rolling average sale price for the last 12 months (2/1/9-1/31/1) with 12 months before (2/1/8-1/31/9). 3 As of October 27, 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
2 18 16 14 12 1 8 6 4 Active Residential Listings ACTIVE RESIDENTIAL LISTINGS, OR active residential listings over the past three calendar years in the greater, Oregon metropolitan area. TOTAL ACTIVE LISTINGS total active listings over the past three calendar years in the greater, Oregon metropolitan area. 25 225 2 175 15 125 1 75 5 Total Active Listings Total Active Listings 28 Total Active Listings 29 Total Active Listings 21 6, 5, 4, 3, 2, 1, New Listings NEW LISTINGS new residential listings over the past three calendar years in the greater, Oregon metropolitan area. 3
2,5 2, 1,5 1, 5 Pending Sales PENDING LISTINGS This graph represents monthly accepted offers in the, Oregon metropolitan area over the past three calendar years. CLOSED SALES closed sales over the past three calendar years in the greater, Oregon metropolitan area. 2,5 2, 1,5 1, 5 Average Market Time DAYS ON MARKET 18 16 14 12 1 8 6 4 2 average market time for sales in the, Oregon metropolitan area. *As of August 28, graph now reports Total Days on Market - for details 28 28 TMT 29 TMT 21 TMT read footnotes on page 2. 4
AVERAGE SALE PRICE This graph represents the average sale price for all homes sold in the, Oregon metropolitan area. $4, $35, $3, $25, $2, $15, $1, Jan- Jul- Jan-1 Jul-1 Jan-2 Jul-2 Jan-3 Jul-3 Jan-4 Jul-4 Jan-5 Jul-5 Jan-6 Jul-6 Jan-7 Jul-7 Jan-8 Jul-8 Jan-9 Jul-9 Jan-1 28 26 24 22 2 18 16 14 12 1 Median Sale Price:, OR & Clark Co., WA FEB MAR APR MAY JUNE JULY AUG SEPT OCT NOV DEC JAN MEDIAN SALE PRICE median sale price over the past 12 months in the greater, Oregon metropolitan area and Clark County. Clark County Metro, OR 5
Median sale price January 21 SW Washington $23, Woodland $119, N/NE Clark County Metro $22, Hillsboro Forest Grove $22,4 Yamhill County $37, North Washington County Sauvie Island $184, Columbia County $225,9 Beaverton Aloha $287, Tigard/Tualatin Sherwood Wilsonville $212,5 N $31, West $355, Lake Oswego West Linn $27,3 Ridgefield/La Center $268, Salmon Creek $29,3 Felida $131,5 Cent. Vancouver $242,5 NE $192,5 SE $219,9 Hazel Dell Minnehaha $186,5 Heights $249, Milwaukie/Gladstone/ Boring/Clackamas Estacada $215,8 Oregon City Canby Molalla Beavercreek $173,5 5 Corners Orch. $2, Battle Ground $2, Cascade Park $29, Brush Prairie Hockinson $282, Camas/Washougal $199, Gresham Troutdale Sandy Corbett Fairview $23,4 Mt. Hood: Zigzag Welches Rhododendron Wemme Brightwood Government Camp 6
MULTIPLE LISTING SERVICE Corporate 825 NE Multnomah, Suite 27, OR 97232 (53) 236-7657 Fax: (53) 23-689 Southwest Washington 1514 Broadway, Suite 11 Vancouver, WA 98663 (36) 696-718 Fax: (36) 696-9342 Salem 211 Mission St. SE, Suite 35 Salem, OR 9732 (53) 587-881 Fax: (53) 585-3817 Lane County: Eugene 2139 Centennial Plaza Eugene, OR 9741 (541) 686-2885 Fax: (541) 484-3854 Lane County: Florence PO Box 414 Florence, OR 97439 (541) 92-256 Fax: (541) 92-1341 Douglas County 351 NE Edenbower Roseburg, OR 9747 (541) 673-3571 Fax: (541) 673-6581 Curry County PO Box 637 Brookings, OR 97415 (541) 469-219 Fax: (541) 469-9695 Mid-Columbia PO Box 188 Hood River, OR 9731 (541) 436-2956 Fax: (541) 387-6657 Eastern Oregon PO Box 751 Hermiston, OR 97838 (541) 567-5186 Fax: (541) 289-732 Coos County 1946 Sherman Ave., Suite 11 North Bend, OR 97459 (541) 751-17 Fax: (541) 751-183 MEDIAN SALE PRICE CONDOS $25, $225, $2, $175, $15, 18 16 14 12 1 AFFORDABILITY 8 6 4 2 Residential This graph represents the median sale price for all condos sold in the last three calendar years in the, Oregon metropolitan area. Median Condo Sale Price affordability for, Oregon metropolitan area in December 29. Affordability Index The statistics presented in Market Action are compiled monthly based on figures generated by RMLS. Statistics reflect reported activity for the greater, 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, (53) 236-7657. Reproduction of any portion of this copyrighted material is prohibited without prior approval of RMLS. Sep-3 Dec-3 Mar-4 Jun-4 Sep-4 Dec-4 Mar-5 Jun-5 Sep-5 Dec-5 Mar-6 Jun-6 Sep-6 AFFORDABILITY - According to a formula from the National Association of Realtors, buying a house in the metro area is affordable for a family earning the median income. A family earning the median income ($7, in 29, per HUD) can afford 141% of a monthly mortgage payment on a median priced home ($242,2 in December). The formula assumes that the buyer has a 2% down payment and a 3 year fixed rate of 4.83% (per Freddie Mac). Dec-6 Mar-7 Jun-7 Sep-7 Dec-7 Mar-8 Jun-8 Sep-8 Dec-8 Mar-9 Gary Whiting, Chairman of the Board Kurt von Wasmuth, President/CEO Natalie Middleton, Editor Kelsey Brunson, Assistant Editor Jun-9 Sep-9 Dec-9