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April 2010 RMLS Market Action Report - Portland Metro Real Estate

April 2010 RMLS Market Action Report - Portland Metro Real Estate

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Whether you live in Sherwood, Newberg, Tigard, Tualatin, Beaverton or the surrounding Portland Metro area and are wondering the spot-on-price-value of your home as it stands in today's market, simply go to http://www.SherwoodHouseValues.com and tell us a little about your home - Jason H. Gardner, Principal Broker of The Gardner Team will put together a complimentary market value report that expertly covers all the details of the market activity in your criteria.

Jason and Amber Gardner
971.832.1234
jasongardner@johnlscott.com
http://www.TheGardnerTeam.net
Whether you live in Sherwood, Newberg, Tigard, Tualatin, Beaverton or the surrounding Portland Metro area and are wondering the spot-on-price-value of your home as it stands in today's market, simply go to http://www.SherwoodHouseValues.com and tell us a little about your home - Jason H. Gardner, Principal Broker of The Gardner Team will put together a complimentary market value report that expertly covers all the details of the market activity in your criteria.

Jason and Amber Gardner
971.832.1234
jasongardner@johnlscott.com
http://www.TheGardnerTeam.net

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A Publication of RMLS™, The Source for Real Estate Statistics in Your Community Residential Review: Metro Portland, Oregon

April Residential Highlights Sales activity in the Portland metro area improved in April 2010 compared to the same month a year ago.
Comparing April 2010 with April 2009, closed sales increased 49.1%. Pending sales also jumped 60.8%, and new listings rose 23.8%. When comparing April 2010 with the month prior, March 2010, closed sales grew 7.9% (1,941 v. 1,799) and pending sales were up 24.5% (2,991 v. 2,402). New listings, on the other hand, dropped 5.5% (4,713 v. 4,987). At the month’s rate of sales, the 14,182 active residential listings would last approximately 7.3 months, the lowest of the year so far.

April 2010 Reporting Period
Inventory in Months* 2008 2009 2010 January 12.8 19.2 12.6 February 10.4 16.6 12.9 March 9.1 12 7.8 April 10.3 11 7.3 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
*InventoryinMonthsiscalculatedbydividing 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: -10.4% ($286,000 v. $319,200) Median Sale Price % Change: -9.6% ($244,000 v. $270,000)

Sale Prices The average sale price for April 2010 decreased 3.1% compared to April 2009, while the median sale price went down 4%. Month-to -month, there were minimal changes in prices. The average sale price rose just 0.6% ($282,100 v. $280,300) and the median sale price went up 0.5% ($240,000 v. $238,900), when comparing April 2010 to March 2010. Year-to-Date Comparing January-April 2010 with the same period in 2009, closed sales increased 41.4%. Pending sales jumped 46.3%, and new listings also rose 15.4%. See residential highlights table below.

For further explanation of this measure, see the second footnote on page 2.

Portland Metro Residential Highlights
2010

New Listings

Pending Sales

Closed Sales

Average Sale Price

Median Sale Price

Total Market Time

April Year-to-date April Year-to-date April Year-to-date

4,713 17,918 3,808 15,521 23.8% 15.4%

2,991 8,476 1,860 5,793 60.8% 46.3%

1,941 5,900 1,302 4,172 49.1% 41.4%

282,100 279,700 291,100 295,000 -3.1% -5.2%

240,000 239,900 249,900 250,000 -4.0% -4.0%

127 138 148 152 -14.0% -8.8%

Change

2009

*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.

AREA REPORT • 4/2010
Metro Portland & Adjacent Regions, Oregon
AREA REPORT ● Portland Metro Area
RESIDENTIAL Current Month Year-To-Date COMMERCIAL Year-To-Date LAND Year-To-Date MULTIFAMILY Year-To-Date

Pending Sales 2010 v. 20091

Pending Sales 2010 v. 2009

Avg. Sale Price % Change2

Expired/Canceled Listings

Pending Sales 2010

Pending Sales 2010

Total Market Time 4

Average Sale Price

Average Sale Price

Average Sale Price

Average Sale Price

141

N Portland NE Portland SE Portland Gresham/ Troutdale Milwaukie/ Clackamas Oregon City/ Canby Lake Oswego/ West Linn W Portland NW Wash Co. Beaverton/ Aloha Tigard/ Wilsonville Hillsboro/ Forest Grove Mt. Hood Columbia Co. Yamhill Co.

498 1,056 1,373 1,001 1,042 863 1,066 1,847 571 1,131 1,164 925 166 565 914

208 479 577 329 357 252 279 599 218 429 380 278 27 111 190

79 184 241 141 169 101 142 250 83 140 186 122 8 44 108

125 316 407 201 223 140 171 312 132 297 261 203 15 64 124

43.7% 73.6% 51.9% 47.8% 47.7% 47.4% 113.8% 70.5% 43.5% 71.7% 93.3% 43.0% 114.3% 33.3% 53.1%

88 201 283 133 133 89 101 198 101 191 147 146 10 41 79

231,200 284,800 240,300 216,800 251,700 268,500 502,800 386,900 345,700 256,700 289,400 222,300 233,100 181,200 247,900

77 91 98 143 110 116 147 155 134 127 161 135 143 153 193

753 1,748 2,148 1,211 1,369 942 1,141 2,186 786 1,644 1,453 1,165 116 487 769

384 887 1,172 570 632 423 433 855 402 830 689 603 38 181 377

40.1% 48.1% 40.7% 41.8% 34.2% 50.0% 84.3% 59.8% 42.6% 54.3% 51.8% 29.7% 72.7% 30.2% 43.9%

259 597 838 423 403 303 300 591 301 578 472 413 33 136 253

232,400 276,200 234,200 218,700 252,500 257,900 461,200 406,900 358,600 241,000 306,000 239,000 221,600 185,500 217,300

229,000 244,300 210,000 202,800 236,900 222,500 383,000 335,000 343,000 220,000 281,300 215,500 216,600 185,000 193,000

-7.9% -10.4% -10.5% -12.5% -9.6% -11.7% -8.1% -11.4% -7.6% -10.0% -8.2% -9.7% -7.4% -12.5% -13.6%

5 7 2 1 2 2 1 1 3 1 1 1 3

527,000 282,900 304,100 95,000 45,000 370,000 449,000 35,000 219,000 245,000 510,000 214,000 138,700

11 13 12 14 16 15 10 7 6 6 12 17 5 5 14

66,900 105,300 92,900 102,000 120,800 149,000 258,700 227,800 175,700 368,400 166,800 127,300 89,700 155,500 113,200 -

4 17 28 10 5 2

142

143

144

145

146

147

Average Sale Price
286,300 351,500 515,900 238,200 199,000 378,300 7 1 725,800 225,000 201,700 266,100 158,700 1 2 155,000 127,500 9 6 6 413,800 3 190,200

Median Sale Price

Active Listings

New Listings3

Closed Sales

Closed Sales

Closed Sales

Closed Sales

150

149

148

168-178

156

155

153

152

151

Marion/Polk Counties

1,265

240

128

127

51.2%

65

201,200

203

992

348

41.5%

236

215,200

194,000

-10.9%

2

157,500

10

130,700

180-195

North Coastal Counties

1,528

213

107

70

6.1%

71

277,500

132

956

287

51.9%

237

280,900

214,000

-14.4%

5

296,200

29

154,900

1

Percent change in number of pending sales this year compared to last year. The Current Month section compares April 2010 with April 2009. The Year-To-Date section compares year-to-date statistics from April 2010 with year-to-date statistics from April 2009. % Change is based on a comparison of the rolling average sale price for the last 12 months (5/1/09-4/30/10) with 12 months before (5/1/08-4/30/09). As of October 2007, the way that New Listing data is generated has changed to ensure accuracy. 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 3 4

2
© Copyright RMLS™ 2010. All Rights Reserved.

Closed Sales
10

New Listings

Active Residential Listings
20000 18000 16000 14000 12000 10000 8000 6000 4000

ACTIVE RESIDENTIAL LISTINGS
PORTLAND, OR

This graph shows the active residential listings over the past three calendar years in the greater Portland, Oregon metropolitan area.

2008

2009

2010

TOTAL ACTIVE LISTINGS
PORTLAND, OR
25000 22500 20000 17500 15000 12500 10000 7500 5000

Total Active Listings

This graph shows the total active listings over the past three calendar years in the greater Portland, Oregon metropolitan area.

Total Active Listings 2008

Total Active Listings 2009

Total Active Listings 2010

NEW LISTINGS
New Listings

PORTLAND, OR
6,000 5,000 4,000 3,000 2,000 1,000 0

This graph shows the new residential listings over the past three calendar years in the greater Portland, Oregon metropolitan area.

2008

2009

2010

3
© Copyright RMLS™ 2010. All Rights Reserved.

PENDING LISTINGS
Pending Sales
3,500 3,000 2,500

PORTLAND, OR

This graph represents monthly accepted offers in the Portland, Oregon metropolitan area over the past three calendar years.

2,000
1,500 1,000 500 0

2008

2009

2010

CLOSED SALES
PORTLAND, OR
Closed Sales
2,500 2,000 1,500 1,000 500 0

This graph shows the closed sales over the past three calendar years in the greater Portland, Oregon metropolitan area.

2008

2009

2010

Average Market Time
180 160 140 120 100 80 60 40 20 0

DAYS ON MARKET
PORTLAND, OR

This graph shows the average market time for sales in the Portland, Oregon metropolitan area. *As of August 2008, graph 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.

AVERAGE SALE PRICE
PORTLAND, OR

This graph represents the average sale price for all homes sold in the Portland, Oregon metropolitan area.

Average Sale Price
$400,000

$350,000 $300,000 $250,000 $200,000
$150,000

$100,000
Jul-01
Jul-00 Jul-02 Jul-03 Jul-04 Jul-05 Jul-06 Jul-07 Jul-08

Jan-07

Jan-00

Jan-01

Jan-02

Jan-03

Jan-04

Jan-05

Jan-06

Jan-08

Jan-09

Jul-09

Median Sale Price: Portland, OR & Clark Co., WA
260000 240000 220000 200000 180000 160000 140000

MEDIAN SALE PRICE
PORTLAND, OR

This graph shows the median sale price over the past 12 months in the greater Portland, Oregon metropolitan area and Clark County.
MAY JUNE JULY AUG SEPT OCT NOV DEC JAN FEB MAR APR

120000
100000

Clark County

Metro Portland, OR

5
© Copyright RMLS™ 2010. All Rights Reserved.

Jan-10

MEDIAN SALE PRICE April 2010

SW WASHINGTON

$238,000 Woodland

$200,000 N/NE Clark County

PORTLAND METRO
$189,900 Columbia County

$203,000 $256,900 Ridgefield/La Center Battle Ground

$255,000 Salmon Creek
$220,400 Felida

$275,000 Brush Prairie Hockinson

$322,000 North Washington County Sauvie Island

$192,000 Hazel Dell Minnehaha

$175,000
5 Corners Orch.

$145,000 Cent. Vancouver $187,000 Heights

$190,000 Cascade Park $262,800 Camas/Washougal

$226,000 N Portland $258,800 NE Portland $222,600 SE Portland $236,500
Milwaukie/Gladstone/ Boring/Clackamas Estacada

$202,000 Hillsboro Forest Grove

$234,000 Beaverton Aloha

$325,000 West Portland

$202,000 Gresham Troutdale Sandy Corbett Fairview

$269,900 Tigard/Tualatin Sherwood Wilsonville $197,000 Yamhill County

$385,000

Lake Oswego West Linn $230,000 Oregon City Canby Molalla Beavercreek

$212,000 Mt. Hood: Zigzag Welches Rhododendron Wemme Brightwood Government Camp

6
© Copyright RMLS™ 2010. All Rights Reserved.

MULTIPLE LISTING SERVICE

Corporate 825 NE Multnomah, Suite 270 Portland, OR 97232 (503) 236-7657 Fax: (503) 230-0689 Southwest Washington 1514 Broadway, Suite 101 Vancouver, WA 98663 (360) 696-0718 Fax: (360) 696-9342 Salem 2110 Mission St. SE, Suite 305 Salem, OR 97302 (503) 587-8810 Fax: (503) 585-3817 Lane County: Eugene 2139 Centennial Plaza Eugene, OR 97401 (541) 686-2885 Fax: (541) 484-3854 Lane County: Florence PO Box 414 Florence, OR 97439 (541) 902-2560 Fax: (541) 902-1341 Douglas County 3510 NE Edenbower 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 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™.

MEDIAN SALE PRICE CONDOS
PORTLAND, OR

This graph represents the median sale price for all condos sold in the last three calendar years in the Portland, Oregon metropolitan area.
Median Condo Sale Price

$250,000

$225,000
$200,000

$175,000
$150,000

2008

2009

2010

ACTIVE & CLOSED CONDOS
PORTLAND, OR

This graph shows the number of active and closed condos in the Portland, Oregon metropolitan area.

Active & Closed Condos
2,500 2,000 1,500 1,000 500 0

Active Listings

Closed Sales

Gary Whiting, Chairman of the Board Kurt von Wasmuth, President/CEO Natalie Middleton, Editor Kelsey Brunson, Assistant Editor

© Copyright RMLS™ 2010. All Rights Reserved.

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