April 2011 Market Action Report Portland Oregon Home Value Statistics Courtesy of Listed Sold Team of Prudential NW Properties

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  • 8/6/2019 April 2011 Market Action Report Portland Oregon Home Value Statistics Courtesy of Listed Sold Team of Prudential

    1/7

    A Publication of RMLS, The Source for Real Estate Statistics in Your Community

    Copyright RMLS 2011. All Rights Reserved.

    Residential Review: Metro Portland, Oregon April 2011 Reporting Period

    April Residential Highlights

    While sales activity was downin April 2011 compared with April2010, average and median saleprices increased compared withthe previous month of March 2011.Additionally, inventory was 0.7months lower than April 2010,

    reaching the lowest inventory levelfor the area since October 2009.

    Closed sales were down 17% inApril 2011 compared to April 2010.Pending sales were down 33%, andnew listings dropped 34.2%. Seeresidential highlights table below.

    Comparing March 2011 withApril 2011, closed sales dipped from1,615 to 1,611 (-0.3%). Pending salesalso decreased from 2,014 to 2,005

    (-0.5%). New listings went up from3,056 to 3,099 (1.4%).

    At the months rate of sales, the10,593 active residential listingswould last about 6.6 months.

    Sale Prices

    Average sale price for April2011 declined 5.2% compared toApril 2010. Median sale price alsofell 8.4%. See residential highlightstable below.

    Month to month, comparingMarch 2011 to April 2011, sale

    prices increased. Average sale pricewent up from $261,100 to $267,300(2.4%) while median sale price alsoincreased from $215,000 to $219,900(2.3%).

    Year-to-Date

    Comparing January-April 2010with the same period in 2011, salesactivity was down. Closed salesdecreased by 6.6% (5,900 v. 5,513).Pending sales went down by 19.7%

    (8,476 v. 6,806), and new listings fell30.9% (17,918 v. 12,378).

    Additionally, the average saleprice fell 8.1% ($279,700 v. $257,000),and the median sale price dropped10.4% ($239,900 v. $215,000).

    New

    Listings

    Pending

    Sales

    Closed

    Sales

    Average

    Sale Price

    Median

    Sale Price

    Total

    Market

    Time

    April 3,099 2,005 1,611 267,300 219,900 153

    Year-to-date 12,378 6,806 5,513 257,000 215,000 161

    April 4,713 2,991 1,941 282,100 240,000 127

    Year-to-date 17,918 8,476 5,900 279,700 239,900 138

    April -34.2% -33.0% -17.0% -5.2% -8.4% 20.7%

    Year-to-date -30.9% -19.7% -6.6% -8.1% -10.4% 16.5%

    2011

    2010

    Change

    Portland Metro

    Residential

    Highlights

    *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.

    Inventory in Months*

    2009 2010 2011

    January 19.2 12.6 11.3February 16.6 12.9 10.9

    March 12.0 7.8 7.1

    April 11.0 7.3 6.6

    May 10.2 7.0

    June 8.2 7.3

    July 7.3 10.8

    August 7.8 11.0September 7.6 10.5

    October 6.5 10.7

    November 7.1 10.2December 7.7 7.9

    Percent Change of 12-Month Sale Price

    Compared With The Previous 12 Months

    Average Sale Price % Change:

    -3.7% ($275,300 v. $285,900)

    Median Sale Price % Change:

    -3.7% ($233,100 v. $242,000)

    *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 propertyis re-listed within 31 days, Total Market Time continues to accrue; however, it does not include the time that it was off the market.

    For further explanation of this measure, see

    the second footnote on page 2.

    CLICK HERE for your home's value

    http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prudential_nw/modules/global/forms/propertyinvestmentprofile.asp?AccountID=36473&acc=36473http://listed2sold.com/prude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  • 8/6/2019 April 2011 Market Action Report Portland Oregon Home Value Statistics Courtesy of Listed Sold Team of Prudential

    2/7

    2 Copyright RMLS 2011. All Rights Reserved.

    AREA REPORT 4/2011Metro Portland & Adjacent Regions, Oregon

    1 Percent change in number of pending sales this year compared to last year. The Current Month section compares April 2011 with April 2010. The Year-To-Dasection compares year-to-date statistics from April 2011 with year-to-date statistics from April 2010.

    2 % Change is based on a comparison of the rolling average sale price for the last 12 months (5/1/10-4/30/11) with 12 months before (5/1/09-4/30/10).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 da

    Total Market Time continues to accrue; however, it does not include the time that it was off the market.

    ActiveListings

    NewListings

    Expired/Canceled

    Listings

    PendingSales201

    1

    PendingSales201

    1v.

    20101

    ClosedSales

    AverageSalePrice

    TotalMarketTime

    3

    NewListings

    PendingSales201

    1

    PendingSales201

    1v.

    2010

    ClosedSales

    AverageSalePrice

    MedianSalePrice

    Avg.

    SalePrice%

    Change

    2

    ClosedSales

    AverageSalePrice

    ClosedSales

    AverageSalePrice

    ClosedSales

    AverageSalePrice

    141

    N Portland 398 135 71 73 -41.6% 67 216,000 143 484 272 -29.2% 256 207,700 195,600 -5.6% 3 327,200 8 94,400 6 216,100

    142

    NE Portland 885 302 134 196 -38.0% 152 276,300 160 1,154 655 -26.2% 532 266,900 218,500 -0.3% 7 395,400 10 157,400 22 407,200

    143

    SE Portland 1,201 363 154 271 -33.4% 196 211,000 129 1,491 842 -28.2% 672 206,200 170,900 -4.0% 12 258,400 12 143,100 25 375,500

    144Gresham/

    Troutdale 787 177 117 127 -36.8% 114 175,500 127 830 460 -19.3% 394 198,200 172,500 -5.9% 3 361,700 24 64,300 11 186,000

    145

    Milwaukie/

    Clackamas 950 239 114 157 -29.6% 102 242,400 179 1,002 527 -16.6% 426 240,000 219,800 -7.6% 1 516,600 18 153,200 4 215,900

    146Oregon City/

    Canby 691 159 86 107 -23.6% 93 233,400 183 654 375 -11.3% 292 218,500 205,100 -10.6% 1 70,000 12 175,600 3 170,300

    147 Lake Oswego/

    West Linn 801 211 91 110 -35.7% 89 431,500 198 816 386 -10.9% 309 399,400 350,000 -12.7% - - 2 332,500 1 399,000

    148

    W Portland 297 368 145 259 -17.0% 207 412,800 156 1,446 833 -2.6% 662 388,100 332,800 -1.5% 1 315,000 22 90,400 6 484,000

    149

    NW Wash Co. 475 143 48 107 -18.9% 86 381,900 123 570 340 -15.4% 282 342,900 308,900 -1.8% 2 430,800 14 196,100 1 260,000

    150Beaverton/

    Aloha 978 278 111 160 -46.1% 153 212,800 151 1,046 612 -26.3% 503 205,300 188,000 -6.2% 2 256,500 4 251,100 5 288,000

    151 Tigard/

    Wilsonville 1,023 270 124 168 -35.6% 137 268,300 167 1,059 545 -20.9% 423 274,400 253,000 -5.5% 2 39,400 14 291,700 9 206,400

    152Hillsboro/

    Forest Grove 748 184 47 136 -33.0% 102 200,900 125 808 473 -21.6% 376 199,600 184,500 -11.0% 7 234,000 7 108,700 14 270,200

    153

    Mt. Hood 151 25 11 8 -46.7% 5 222,500 106 94 27 -28.9% 24 200,300 202,500 -15.4% - - 2 76,000 - -

    155

    Columbia Co. 432 73 40 47 -26.6% 40 157,700 184 336 162 -10.5% 133 162,300 150,000 -10.3% 2 100,300 9 123,500 2 140,800

    156

    Yamhill Co. 776 172 88 79 -36.3% 68 183,000 155 588 297 -21.2% 229 178,800 165,000 -6.2% 2 355,800 14 223,400 5 203,400

    18

    0-195

    200North Coastal

    Counties 1,533 219 100 53 -24.3% 62 249,800 127 806 250 -12.9% 235 248,800 204,000 -8.5% 4 513,500 26 91,000 4 142,800

    Year-To-Date

    COMMERCIAL LAND MULTIFAMILYRESIDENTIAL

    Year-To-Date Year-To-DateCurrent Month Year-To-Date

    Note: Data for Polk and Marion Counties is now reported in the monthly Polk & Marion Counties Market Action Report.

  • 8/6/2019 April 2011 Market Action Report Portland Oregon Home Value Statistics Courtesy of Listed Sold Team of Prudential

    3/73 Copyright RMLS 2011. All Rights Reserved.

    NEW LISTINGS

    PORTLAND, OR

    This graph shows the

    new residential listings

    over the past threecalendar years in the

    greater Portland, Oregon

    metropolitan area.

    TOTAL ACTIVE

    LISTINGSPORTLAND, OR

    This graph shows the

    total active listings over

    the past three calendar

    years in the greater

    Portland, Oregon

    metropolitan area.

    ACTIVE

    RESIDENTIAL

    LISTINGS

    PORTLAND, OR

    This graph shows the active

    residential listings over the

    past three calendar years in

    the greater Portland, Or-

    egon metropolitan area.4000

    6000

    8000

    10000

    12000

    14000

    16000

    Active Residential Listings

    2009 2010 2011

    5000

    7500

    10000

    12500

    15000

    17500

    20000

    Total Active Listings

    2009 2010 2011

    0

    1,000

    2,000

    3,000

    4,000

    5,000

    6,000

    New Listings

    2009 2010 2011

  • 8/6/2019 April 2011 Market Action Report Portland Oregon Home Value Statistics Courtesy of Listed Sold Team of Prudential

    4/7 Copyright RMLS 2011. All Rights Reserved.4

    This graph represents

    monthly accepted oers

    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

    ve 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 MARKET

    PORTLAND, OR

    0

    500

    1,000

    1,500

    2,000

    2,500

    3,000

    3,500

    Pending Sales

    2009 2010 2011

    0

    500

    1,000

    1,500

    2,000

    2,500

    3,000

    Closed Sales

    2007

    2008

    2009

    2010

    2011

    0

    20

    40

    60

    80

    100

    120

    140

    160

    180

    200

    Average Market Time

    2009 TMT 2010 TMT 2011 TMT

  • 8/6/2019 April 2011 Market Action Report Portland Oregon Home Value Statistics Courtesy of Listed Sold Team of Prudential

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    Copyright RMLS

    2011. All Rights Reserved.

    5

    This graph represents the average sale price for all homes sold in the Portland,

    Oregon metropolitan area.

    AVERAGE SALE

    PRICE

    PORTLAND, OR

    $100,000

    $150,000

    $200,000

    $250,000

    $300,000

    $350,000

    $400,000

    Apr-01

    Oct-01

    Apr-02

    Oct-02

    Apr-03

    Oct-03

    Apr-04

    Oct-04

    Apr-05

    Oct-05

    Apr-06

    Oct-06

    Apr-07

    Oct-07

    Apr-08

    Oct-08

    Apr-09

    Oct-09

    Apr-10

    Oct-10

    Apr-11

    Average Sale Price

    100000

    120000

    140000

    160000

    180000

    200000

    220000

    240000

    260000

    APR MAY JUNE JULY AUG SEPT OCT NOV DEC JAN FEB MAR APR

    Median Sale Price: Portland, OR & Clark Co., WA

    Clark County Metro Portland, OR

    This graph shows the

    median sale price ove

    the past 12 months in

    the greater Portland,

    Oregon, metropolitan

    area and Clark

    County.

    MEDIAN SALEPRICE

    PORTLAND, OR

  • 8/6/2019 April 2011 Market Action Report Portland Oregon Home Value Statistics Courtesy of Listed Sold Team of Prudential

    6/7

    $170,000

    Yamhill County

    $205,000N Portland

    $210,800NE

    Portland

    $175,500SEPortland

    $166,200Gresham

    TroutdaleSandy

    CorbettFairview $210,000

    Mt. Hood:Zigzag

    WelchesRhododendron

    WemmeBrightwood

    Government Camp

    $210,800Milwaukie/Gladstone/

    Boring/Clackamas

    Estacada

    $214,000

    Oregon CityCanby

    Molalla

    Beavercreek

    $382,500

    Lake Oswego

    WestLinn

    $345,000

    West

    Portland

    $308,500

    North Washington County

    Sauvie Island

    $191,500

    Beaverton

    Aloha

    $255,000

    Tigard/Tualatin

    Sherwood

    Wilsonville

    $190,500Hillsboro

    Forest Grove

    $ 139,000

    Columbia County

    $190,000Heights

    $120,200Cent. Vancouver

    $175,000

    Cascade Park

    $145,5005 Corners

    Orch.

    $173,000HazelDell

    Minnehaha

    $214,500Felida

    $225,000

    Salmon Creek

    $260,000

    Camas/Washougal

    $262,500

    Brush Prairie

    Hockinson

    $228,000

    Ridgeeld/La Center

    $201,500

    Battle Ground

    $220,000

    N/NE Clark County

    $147,500

    Woodland

    MEDIAN SALE PRICEApril 2011

    PORTLAND

    METRO

    6 Copyright RMLS 2011. All Rights Reserved.

    SW

    WAShINGTON

  • 8/6/2019 April 2011 Market Action Report Portland Oregon Home Value Statistics Courtesy of Listed Sold Team of Prudential

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    MULTIPLE LISTING SERVICE

    Te statistics presented in Market

    Action are compiled montly based on

    figures generated by RMLS

    .Market Action Reports are compiled for

    the following areas: Portland metropolitanarea, Southwest Washington, Mid-Columbia, Columbia Basin, Baker County,Coos County, Curry County, DouglasCounty, Grant County, Lane County, Polk& Marion Counties, Union County, andWallowa County.

    RMLS was formed by area Boards andAssociations of REALTORS in 1991.

    E-mail subscriptions are available for$45 per year by contacting RMLS, (503)236-7657. Reproduction of any portion ofthis copyrighted material is prohibitedwithout prior approval of RMLS.

    Cory Neu, Chairman of the BoardKurt von Wasmuth, President/CEOKelsey Brunson, EditorDanny Goleib, Assistant Editor

    Copyright RMLS 2011. All Rights Reserved.

    Lane County: FlorencePO Box 414

    Florence, OR 97439(541) 902-2560Fax: (541) 902-1341

    Curry CountyPO Box 6307

    Brookings, OR 97415(541) 469-0219

    Fax: (541) 469-9695

    Lane County: Eugene2139 Centennial Plaza

    Eugene, OR 97401(541) 686-2885

    Fax: (541) 484-3854

    Southwest Washington1514 Broadway, Suite 101

    Vancouver, WA 98663(360) 696-0718

    Fax: (360) 696-9342

    Douglas County3510 NE EdenbowerRoseburg, OR 97470

    (541) 673-3571Fax: (541) 673-6581

    Corporate825 NE Multnomah, Suite 270

    Portland, OR 97232(503) 236-7657

    Fax: (503) 230-0689

    Mid-ColumbiaPO Box 1088

    Hood River, OR 97031

    (541) 436-2956Fax: (541) 387-6657

    Eastern OregonPO Box 751

    Hermiston, OR 97838(541) 567-5186

    Fax: (541) 289-7320

    Coos County1946 Sherman Ave., Suite 101

    North Bend, OR 97459(541) 751-1070

    Fax: (541) 751-1083

    Salem2110 Mission St. SE, Suite 305

    Salem, OR 97302(503) 587-8810

    Fax: (503) 585-3817

    This graph represents the median sale price for all

    condos sold in the last three calendar years in the

    Portland, Oregon metropolitan area.

    MEDIAN SALE

    PRICE CONDOS

    PORTLAND, OR

    $120,000

    $145,000

    $170,000

    $195,000

    $220,000

    $245,000

    Median Condo Sale Price

    2009 2010 2011

    0

    20

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    r-11

    Affordability Index

    AFFORDABILITY

    PORTLAND, OR

    AFFORDABILITY - According to a formula from the National Association of Realtors,buying a house in the Portlandmetro area is affordable for a family earning the median income. A family earning the median income ($71,200 in 2010,per HUD) can afford 164% of a monthly mortgage payment on a median priced home ($215,000 in March). The formulaassumes that the buyer has a 20% down payment and a 30 year fixed rate of 4.84% (per Freddie Mac).

    This graph shows aordability for housing in the

    Portland, Oregon metropolitan area in March 2011.