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© Copyright RMLS™ 2010. All Rights Reserved.
Residential Review: Metro Portland, Oregon March 2010 Reporting Period
March Residential Highlights
Sales activity in the Portlandmetropolitan area continues toimprove in March 2010 comparedto the same month a year ago.When comparing March 2010with March 2009, closed sales rose51.9%. Pending sales jumped 46.7%and new listings increased 35.3%.Comparing March 2010 with theprevious month, February 2010,closed sales drastically increased77.2% (1,799 v. 1,015) and pendingsales grew 29.8% (2,402 v. 1,850).New listings increased 27.8% (4,987v. 3,902).At the month’s rate of sales, the14,042 active residential listingswould last approximately 7.8months, the lowest of the year.
Sale Prices
The average sale price forMarch 2010 fell 5.6% comparedto March 2009. The median saleprice dropped 3%. See residentialhighlights table below.On a month-to-month basis,comparing March 2010 to February2010, the average price increased2.6% ($280,300 v. $273,100) and themedian price grew a slight 1.6%($238,900 v. $235,000).
First Quarter Report
Comparing the first quarter of2010 with that of 2009, increasescan be seen across the board. Closedsales grew 37.3% (3,892 v. 2,834).Pending sales also went up 39.2%(5,594 v. 4,018) and new listings rose13% (13,072 v. 11,566).
NewListingsPendingSalesClosedSalesAverageSale PriceMedianSale PriceTotalMarketTime
March
4,987 2,402 1,799 280,300 238,900 142
Year-to-date
13,072 5,576 3,892 278,300 237,500 144
March
3,685 1,637 1,184 297,000 246,400 156
Year-to-date
11,566 4,018 2,834 297,100 250,000 154
March
35.3% 46.7% 51.9% -5.6% -3.0% -8.9%
Year-to-date
13.0% 38.8% 37.3% -6.3% -5.0% -6.3%
2 0 1 0 2 0 0 9 C h a n g e
Portland MetroResidentialHighlights
*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*2008 2009 2010January
12.8 19.2 12.6
February
10.4 16.6 12.9
March
9.1 12 7.8
April
10.3 11
May
9.2 10.2
June
9.5 8.2
July
10 7.3
August
9.9 7.8
September
10.4 7.6
October
11.1 6.5
November
15 7.1
December
14.1 7.7
Percent Change of 12-Month Sale PriceCompared With The Previous 12 MonthsAverage Sale Price % Change:
-10.9% ($286,700 v. $321,900)
Median Sale Price % Change:
-9.6% ($245,000 v. $271,000)
*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.
2
© Copyright RMLS
™
2010. All Rights Reserved.
AREA REPORT • 3/2010
Metro Portland & Adjacent Regions, Oregon
1
Percent change in number of pending sales this year compared to last year. The Current Month section compares March 2010 with March 2009. The Year-To-Datesection compares year-to-date statistics from March 2010 with year-to-date statistics from March 2009.
2
% Change is based on a comparison of the rolling average sale price for the last 12 months (4/1/09-3/31/10) with 12 months before (4/1/08-3/31/09).
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.
A c t i v e L i s t i n g s N e w L i s t i n g s
3
E x p i r e d / C a n c e l e d L i s t i n g s P e n d i n g S a l e s 2 0 1 0 P e n d i n g S a l e s 2 0 1 0 v . 2 0 0 9
1
C l o s e d S a l e s A v e r a g e S a l e P r i c e T o t a l M a r k e t T i m e
4
N e w L i s t i n g s P e n d i n g S a l e s 2 0 1 0 P e n d i n g S a l e s 2 0 1 0 v . 2 0 0 9 C l o s e d S a l e s A v e r a g e S a l e P r i c e M e d i a n S a l e P r i c e A v g . S a l e P r i c e % C h a n g e
2
C l o s e d S a l e s A v e r a g e S a l e P r i c e C l o s e d S a l e s A v e r a g e S a l e P r i c e C l o s e d S a l e s A v e r a g e S a l e P r i c e 1 4 1
N Portland
48023011011439.0%91233,8008954026537.3%168233,700230,000-8.7%--773,7003315,100
1 4 2
NE Portland
1,06947815126547.2%177269,5001201,25858034.9%389271,400239,000-10.2%3751,70010109,90017351,500
1 4 3
SE Portland
1,38159432433746.5%242235,8001011,54877334.9%542230,300202,500-11.2%5242,0006106,50021522,500
1 4 4
Gresham/Troutdale
98531714515428.3%132235,10014187336934.7%285218,800202,000-12.6%2304,10012101,5004215,500
1 4 5
Milwaukie/Clackamas
1,03938314019230.6%123252,3001311,00142428.5%264253,200240,000-8.2%195,00012117,8002165,000
1 4 6
Oregon City/Canby
83425911013461.4%92253,80012768828650.5%211253,400220,000-11.8%245,00012150,7002378,300
1 4 7
Lake Oswego/West Linn
1,03730812211791.8%97454,90024185026769.0%197441,800377,000-9.6%2370,0007231,200--
1 4 8
W Portland
1,79163825625265.8%165421,7001841,57355755.6%383418,000336,000-11.6%1449,0005187,9007725,800
1 4 9
NW Wash Co.
5492027310752.9%95358,10012955926943.9%194360,600344,000-9.2%--6175,700--
1 5 0
Beaverton/Aloha
1,13142817920062.6%180227,7001061,20853844.2%382233,500216,500-11.5%2258,5005330,1008194,000
1 5 1
Tigard/Wilsonville
1,19240415818035.3%151313,5001761,05943132.6%322313,500287,000-8.6%1245,0006176,4006284,200
1 5 2
Hillsboro/Forest Grove
93235115817328.1%132248,60017887741124.5%264248,100223,900-9.5%--1182,1006158,700
1 5 3
Mt. Hood
16043131157.1%8133,100172892343.8%23220,100216,600-6.7%--496,500--
1 5 5
Columbia Co.
550154474826.3%36184,20017537512025.0%95187,300184,900-12.2%1214,0003120,7001155,000
1 5 6
Yamhill Co.
9121989611855.3%78209,00016157426342.2%173203,800190,000-15.6%2161,3009121,200--
1 6 8 - 1 7 8
Marion/PolkCounties
1,1692791288740.3%79203,20014073522135.6%169219,100194,900-13.4%-#DIV/0!7157,1005416,600
1 8 0 - 1 9 5
North CoastalCounties
1,4262901838475.0%73309,40015073621981.0%162283,100210,000-13.4%3309,50017140,8001175,500
Year-To-DateCOMMERCIAL LAND MULTIFAMILYRESIDENTIAL Year-To-Date Year-To-DateCurrent Month Year-To-Date
3
© Copyright RMLS
™
2010. All Rights Reserved.
NEW LISTINGS
PORTLAND, OR
This graph shows thenew residential listingsover the past threecalendar years in the greater Portland, Oregonmetropolitan area.
TOTAL ACTIVELISTINGS
PORTLAND, OR
This graph shows thetotal active listings overthe past three calendar years in the greaterPortland, Oregonmetropolitan area.
ACTIVERESIDENTIALLISTINGS
PORTLAND, OR
This graph shows the activeresidential listings over the past three calendar yearsin the greater Portland,Oregon metropolitan area.
400060008000100001200014000160001800020000
Active Residential Listings
2008 2009 2010
5000750010000125001500017500200002250025000
Total Active Listings
Total Active Listings 2008 Total Active Listings 2009 Total Active Listings 2010
01,0002,0003,0004,0005,0006,000
New Listings
2008 2009 2010
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March 2010 Portland Oregon Home Value Trends Market Action Report RMLS Listed Sold
Portland Oregon Market Action Report for March 2010 outlining market trends in local market. Contact Andrew Beach with the Listed2Sold.com team at Prudential NW Properties. 503-770-0707
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