Portland Real Estate Market Report- March 2017

Spring in the Portland Real Estate Market is underway and March proved to be in like a lion. Roaring in with over 4,988 new residential listings, proving itself as the strongest March since 2010! The Portland condo market showed some strength in March with closing out pacing active listings and the median sale price jumped from a little under $250,000 in February to near $300,000 in March!  Overall March beat out February numbers, which signals that the spring real estate market in Portland is underway.

Closing sales in the Portland real estate market was 49.4% higher than February (1,669) ending with a final number of 2,494 closed sales. 2017 is still having a hard time beating the hot Portland real estate market of 2016, falling short in closing by 1.1%.

Closings
March 17’ – 2,494
March 16’– 2,565
Feb 16’ – 1,669

Pending sales had a 28.5% increase over February 2017 ending with 3,043.  Similar to closing sales, March of 2017 came up short in beating out March 2016 by 1.1%.

 Pendings
March 17’ – 3,043
March 16’–3,076
Feb 17’ – 2,369

New listings beat out March 2016 by 5.7%, with 3,604 new residential listings in the Portland Metro area. February was beat out by March 2017 by 43.0%. This is good news for buyers who have been experiencing a difficult time in the real estate market.

New Listings
March 17’ – 3,604
March 16’– 3,409
Feb 17’ – 2,521

 

March  2017 Portland Housing Market By the Numbers

Total days on the market decreased in March by four days from, 62 days ending at 58 days on the market for a home in the Portland Real Estate Market. A decreased happened in the months of inventory from 1.9 in February to 1.3 month of inventory in March 2017, which stayed on track with months of inventory of residential properties for March 2016.  In active residential listing in the Portland Metro area, ending with 3,313, that was higher than February 2017, 3,109.

A place where 2017 is beating out 2016 in the Portland Real Estate market is in housing prices. The average price of a home that has sold in the last 12 months increased by 12.0%  ending at $404,300 and March 2016 ended with $361,000. Median sale price had an increase from $315000 to $353,500 and increase of 12.2%.

Where are the most Active Listings in Portland for March 2017?

Neighborhood                                     Total of Active Listings                 Total Market time

North Portland                                                115                                              47 days
Northeast Portland                                        249                                              50 days
Southeast Portland                                        291                                              40 days
West Portland                                                 419                                              52 days

 Median Sales Prices for March 2017 for the Portland Metro are as listed below…
$560k- West Portland
$533k- Lake Oswego/West Linn
$405k- Tigard/Tualatin/Sherwood/Wilsonville
$402.5k- North Portland
$391,5k  NE Portland
$355,5k- Oregon City/ Canby/ Molalla/ Beavercreek
$339,5k- SE Portland
$333,1k- Hillsboro / Forest Grove
$326k- Beaverton/Aloha
$303k- Gresham/Sandy/Troutdale/Fairview
$266,5k- Milwaukie/Gladstone

Portland Metro Area Real Estate Market March 2017 Report Click Here
Vancouver & SW Washington Real Estate Market March 2017 Report Click Here

 

Thinking about Buying a home in the Portland Metro area? Search now to find your Home.

 
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Portland Real Estate Market Report- February 2017

The Portland Real Estate market for February 2017 has come to a close! The Month ended with the same mixed bag of results as in end of 2016 into 2017. This could be caused by our winter weather or as the report that came out last month from the 2016 United Van Line migration numbers we are number 3 for the first time since 2009. Oregon has held the #1 Position since 2013 and #2 since 2009. This could be a sign we might seeing  for the first time Oregon attractiveness & popularity starting to lessen.

February ending with 1,669 closing sales in the Portland Residential Real Estate market, that was below February 2016 numbers by 7.9%. In addition, it was below last month’s January numbers by 9.6%

Closings
Feb 17’ – 1,669
Feb 16’– 1,813
Jan 16’ – 1,669

Pending were up from last January lows ending 19% higher, however they did not even come close to 2,786 pending in February of 2016 and ended with a 15% decrease.

Pendings
Feb 17’ – 2,369
Feb 16’– 2,786
Jan 16’ – 1,900

Ending in the month with new listings February 17 were hotter than January 17 numbers by 14%. Just like the numbers above it was still under February 16 numbers by 12.9%.

New Listings
Feb 17’ – 2,521
Feb 16’– 2,896
Jan 16’ – 2,212

February 2017 Portland Housing Market By the Numbers

In the Portland Metro area marketing the days on the market rose to 62 days, which is a slight increase from January at 58 days. The total month in inventory for February ending at 1.9 months, that was higher than January 1.7 months.  Active residential listings were also lower than January’s (3,214), ending with only 3,109 active residential listing in the Portland Metro area Real Estate market.

It appears that February was slightly down from 2016 the only area where that wasen’t the case was in the average and median sale prices. Average home price in February 2017 was $400,800 that was a 12.1% increase. And the Median price went from $310,000 to $350,000, increase of 12.9%.

 

Where are the most Active Listings in Portland for February 2017?

Neighborhood                                     Total of Active Listings                 Total Market time
North Portland                                                106                                              54 days
Northeast Portland                                        243                                               50 days
Southeast Portland                                        280                                               50 days
West Portland                                                 372                                              76 days

 

Median Sales Prices for February 2017 for the Portland Metro are as listed below…

$563k- Lake Oswego/West Linn
$442k- West Portland
$412,5k- Tigard/Tualatin/Sherwood/Wilsonville
$390k  NE Portland
$369,9k- North Portland
$365k- Milwaukie/Gladstone
$365k- Oregon City/ Canby/ Molalla/ Beavercreek
$332,9k- Hillsboro / Forest Grove
$319,5k- Beaverton/Aloha
$309,5k- SE Portland
$287,3k- Gresham/Sandy/Troutdale/Fairview

Portland Metro Area Real Estate Market February 2017 Report Click Here
Vancouver & SW Washington Real Estate Market February 2017 Report Click Here

It is still a Sellers’ Market! If you think about selling, contact us to get a FREE market analysis to see how much you can sell your home for in this hot market. Now is the time to List your house.

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Portland Real Estate Market Report- January 2017

Happy New Year! The Portland Real Estate Market Report for the first month of January 2017 is in the books! January 2017 ended parallel to the last few months of 2016 with a blend of increases and decreases in numbers, across the board in all areas of the Portland Metro area real estate market. If you have read any of our previous blog post, you know that much of 2016 real estate market was on an upwards climb. However toward the end of 2016, that data showed a slight switch to mixed activity. It could be related to our winter weather or a slight shifting in the Portland Real Estate market. At this point we don’t have enough data to identify a shift is happening in the robust Portland metro area real estate market. As we dive in to the January 2017 Portland Real Estate market report, we will start with closing sales.

January closing didn’t quite exceed 2016 January numbers which saw a dip of 0.6%. it also was short of closings in December of 2016 by 29.5%.

Closings
Jan 17’ – 1,847
Jan 16’– 1,859
Dec 16’ – 2,621

The number of pending sales in the Portland metro area real estate market in January of 2017, ended strong than the previous month in December, by 13.3%. Comparing January 2016 to 2017, we saw a dip in the Portland pending sales by 11.3%.

Pendings
Jan 17’ – 1,990
Jan 16’– 2,243
Dec 16’ – 1,757

The number of new listings to hit the Portland real estate market in January of 2017 was 2,212. That is 55.7% higher than December 2016. The end of January missed beating January 2016 numbers by 12.2%.

New Listings
Jan 17’ – 2,212
Jan 16’– 2,519
Dec 16’ – 1,421

January 2017 Portland Housing Market By the Numbers

The Portland real estate market displayed some increases in the total days on the market and has been increasing over the last few months; November 45 days, December 49 days, and January finished at 58 days on the market. This increase was also reflected in the months of inventory. December finished with 1.3 months, and January 2017 rose to 1.7 month of inventory available in the Portland Metro area. That is slightly lower then January 2016 which ended with 1.8 months of inventory.

At the end of January, there were over 3,214 active residential listings in the Portland metro area.

Average home price in January increase 12.0% from the previous years, ending at $398,400, compared to January 2016, $355,600.  12.9% was the increase from 2016-2017 in January for the median home prices $309,900- $350,000.

 

Where are the most Active Listings in Portland for January 2017?
Neighborhood                                     Total of Active Listings                 Total Market time
North Portland                                                119                                              28 days
Northeast Portland                                        208                                               49 days
Southeast Portland                                        308                                                   50 days
West Portland                                                 391                                              79 days

 

Median Sales Prices for January 2017 for the Portland Metro are as listed below…
$500k- Lake Oswego/West Linn
$470- West Portland
$385,9k- Tigard/Tualatin/Sherwood/Wilsonville
$381,3k  NE Portland
$351,6k- Milwaukie/Gladstone
$347k- Oregon City/ Canby/ Molalla/ Beavercreek
$340k- Beaverton/Aloha
$328,7k- North Portland
$323k- Hillsboro / Forest Grove
$314k- SE Portland
$280k- Gresham/Sandy/Troutdale/Fairview

Portland Metro Area Real Estate Market January 2017 Report Click Here
Vancouver & SW Washington Real Estate Market January 2017 Report Click Here

It is still a Sellers’ Market! If you think about selling, contact us to get a FREE market analysis to see how much you can sell your home for in this hot market. Now is the time to List your house.

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Portland Real Estate Market Report- December 2016

Photo Courtesy of Koin.com

Our snowy and cold winter in the Portland metro area perfectly represented how the Real Estate market ended, COLD. Cooler numbers were displayed in new listings and pendings and in the number of closings compared to December of 2015.

Closings
Dec 16’ – 2,621
Dec 15’ – 2,710
Nov 16′ – 2,434

The high not in closings was that December 2016 beat out last month numbers  by 7.7%. However closing compared to 2015 were down 3.3%.

Pendings
Dec 16’ – 1,757
Dec 15’ – 1,936
Nov16′ – 2,266

In December of 2016 in the Portland Real Estate market there was 9.2% less pendings than in 2015. And 22.5 % less pending offers than November 2016. This could be attributed to the winter weather that we had in December.

New Listings
Dec 16’ – 1,421
Dec 15’ – 1,538
Nov 16′ – 2,080

New Listings in 2016 were short of reaching December 2015 numbers by 7.6%. The big shock was that there was 31.7% less new listings offered in December 2016 than in November. However this could be attributed to our early winter storms as mentioned in Pendings sales.
December 2016 Portland Housing Market By the Numbers

Days on the market when from November’s 45 days, to 49 days in December.  Inventory lowered to 1.3 months in December, we haven’t seen that low of a number in inventory since March of this year.

The year to date summary shows that 2016 was cooler than 2015 in the Portland Real Estate Market. Closings were down to 1.5%, Pending sales down 3.9% and New Listings down 0.7%.

That being said, sale prices were thru the roof- Average sale price in the Portland metro area rose from $354,500 to $395,000 a total of 11.4%. The Median sale price increased from $308,000 to $347,000, a total of 12.7%.

 

Where are the most Active Listings in Portland for December 2016?

Neighborhood                                     Total of Active Listings                 Total Market time

North Portland                                                121                                              40 days
Northeast Portland                                        242                                              39 days
Southeast Portland                                        327                                              38 days
West Portland                                                 414                                              55 days

 

Median Sales Prices for December 2016 for the Portland Metro are as listed below…

$505k- Lake Oswego/West Linn
$454,5k- West Portland
$387k- Tigard/Tualatin/Sherwood/Wilsonville
$381k  NE Portland
$377,5k- North Portland
$357k- Oregon City/ Canby/ Molalla/ Beavercreek
$344k- Milwaukie/Gladstone
$325,1k- Beaverton/Aloha
$320k- Hillsboro / Forest Grove
$315k- SE Portland
$300k- Gresham/Sandy/Troutdale/Fairview

 

Portland Metro Area Real Estate Market December 2016 Report Click Here
Vancouver & SW Washington Real Estate Market December 2016 Report Click Here

It is still a Sellers’ Market! If you think about selling, contact us to get a FREE market analysis to see how much you can sell your home for in this hot market. Now is the time to List your house.

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Portland Real Estate Market Report- November 2016

Real Estate in the Portland Real Estate Market showed signs of cooling activity for the first time in 2016. Closing, pending and new listings were all down from October 2016 numbers.  It is continuing the trend, we saw last month, that Portland is experiencing its typical fall cooling trend that was not evident in in the Portland Real Estate Market in 2015.

Closings

Nov16′ – 2,434
Nov 15′ – 2,153
Oct 16′ – 2,589

November finished up with closing sales ending 13.1% higher than in Nov of 2015. Compared to last month’s closing numbers it was a decrease of 6.0%. The last strongest November to 2016 was in Nov 05’ when there was a total of 2,623 closings in the Portland metro area.

Pendings

Nov16′ – 2,266
Nov 15′ – 2,504
Oct 16′ – 2,841

November 2016 pending numbers ended 20.2% lower than October 2016, in addition pendings in November were down 9.5% from last November pending sales.

New Listings
Nov16′ – 2,080
Nov 15′ – 2,148
Oct 16′- 2,929

There was also a decrease in the number of new listings in the Portland real estate market in November of 2016, 3.2% less than in November 2015 and 29.0% less than last month.
November 2016 Portland Housing Market By the Numbers
There has been a slow uptake in the days a home is on the market in the Portland Metro area, September ended at 35 days, October at 41 days and November ended at 45 days.  Inventory did not say consistent like it did in September and October. November ended at 1.8 months of inventory, the first time we seen 1.8 since February of this year.

November ended with 4,354 active residential listings in the Portland metro real estate market that was lower than Octobers 16 numbers of 5,169. If you think the lower numbers in November has affected the average or median sale price it has not. 2016 to 2015 the average sale price rose 11.7%, $353,400 to $394,800. And median price rose 13.4% from $306,000 to $347,000.

2016 started off replicating 2015, however after these November numbers we are seeing a change. New listings are up 1.0% , yet we see lower numbers in closings and pendings. Closing sales in 2016 are down 1.4% and Pending are down 3.7%, thus far in 2016 with one more month to go.

Where are the most Active Listings in Portland for November 2016?

Neighborhood                                     Total of Active Listings                 Total Market time

North Portland                                                144                                              44 days
Northeast Portland                                        316                                               33 days
Southeast Portland                                        433                                                   37 days
West Portland                                                 535                                               56 days

 

Median Sales Prices for November 2016 for the Portland Metro are as listed below…
$531k- Lake Oswego/West Linn
$475k- West Portland
$378k- Tigard/Tualatin/Sherwood/Wilsonville
$370,5k- North Portland
$370k- Milwaukie/Gladstone
$360k  NE Portland
$350k- Oregon City/ Canby/ Molalla/ Beavercreek
$325,7k- Hillsboro / Forest Grove
$320k- Beaverton/Aloha
$310k- SE Portland
$290k- Gresham/Sandy/Troutdale/Fairview

Portland Metro Area Real Estate Market November 2016 Report Click Here
Vancouver & SW Washington Real Estate Market November 2016 Report Click Here

It is still a Sellers’ Market! If you think about selling, contact us to get a FREE market analysis to see how much you can sell your home for in this hot market. Now is the time to List your house.

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Portland Real Estate Market Report- October 2016

Photo Courtesy of AllPosters.com, Photo by Craig Tuttle. Fall colors at Portland Japanese Gardens, http://www.allposters.com/-sp/Fall-colors-at-Portland-Japanese-Gardens-Portland-Oregon-Posters_i12376762_.htm

Hello fall! October in the Portland real estate market finished up by showing signs of the typical seasonal cooling. This was not a factor in fall of 2015. The market continues with its gains since the market boom, that started in 2015 and has carried over into 2016.

New listings
New listings for October fell 20.3% from last September 3,673 ending at 2,929. Its also fell short of beating 2015 by only 4.4%.

Oct 16′- 2,929
Oct 15′- 3,063
Sept 16′- 3,673

Closings
In October 2016, closing sales ended with 4.7% less homes sold than in 2015, (2,589 vs 2,717). Compared to Sept 2016 the Portland real estate closing were down 8.3%.

Oct 16′ – 2,589
Oct 15′ – 2,717
Sept 16′ – 2, 823

Pending
Pending sales in October were so close to beating September numbers of 2,859. But were down 0.6% ending at 2,841. They also fell below 2015 October numbers by 5.2%.

Oct 16′ – 2,841
Oct 15′ – 2,996
Sept 16′ – 2,859

October 2016 Portland Housing Market By the Numbers

In the Portland real estate market days on the market increased from September 35 days to 41 days in October.

Inventory stayed consistent with September numbers of 2.0 months of inventory. That is higher than October 15′, 1.8 months, yet lower then October 14′ 2.7 months. At  the end of October there were 5,169 active residential listings in the Portland metro area.

The consistent trend of 2016 in the Portland real estate market is that prices continue to rise. If you compare Oct 15′- Oct 16′ the average sale price rose 11.5%, $353,4k to $393,9k. Median price rose to $345k from Oct 15′ $305k.

The year to date summary shows a mix bag of 2016 numbers. While in the residential real estate marker, new listing are up 1.2% at 37,412. However shows down turn in closings sales 2.6% at 27,359 and pendings down 3.2% 29,464.

Where are the most Active Listings in Portland for October 2016!

Neighborhood                                     Total of Active Listings                 Total Market time

North Portland                                                166                                                34 days
Northeast Portland                                        367                                                29 days
Southeast Portland                                        544                                                39 days
West Portland                                                 619                                                48  days

 Median Sales Prices for July 2016 for the Portland Metro are as listed below…

$525k- Lake Oswego/West Linn
$485k- West Portland
$393,5k- Tigard/Tualatin/Sherwood/Wilsonville

$375k- North Portland
$371,3k  NE Portland
$346,6k- Milwaukie/Gladstone
$342,5- SE Portland
$340k- Oregon City/ Canby/ Molalla/ Beavercreek
$310k- Beaverton/Aloha
$285k- Gresham/Sandy/Troutdale/Fairview

To Read More about the October 2016 Housing Market in Portland and Vancouver, WA- Click the below Link!
Portland Metro Area Real Estate Market October 2016 Report Click Here
Vancouver & SW Washington Real Estate Market October 2016 Report Click Here

Now it the time to List your house.
It is still a Sellers’ Market! If you think about selling, Contact US to get a FREE market analysis to see how much you can sell your home for in this HOT market or fill out the below form.

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Portland Real Estate Market Report- July 2016

downtown portland

The Portland Real Estate Market Report from July 2016 displayed some unique results.  The July housing market results highlighted a tiny dip in the numbers across the board compared to June 2015. However, July 2016 did end as one of the strongest July when it comes to New Listings since 2008!

Closings
Closing sales in July 2016 did fall short of last year July numbers by 19.6%, ending with 2,776. The number of closing last month in June was a Portland Real Estate Market Record. July feel short of the record ending at 12.1% cooler than June.

July 2016- 2,776
July 2015 – 3,452
June 2016- 3,158

Pendings
Pending number were a bust with July 2016 numbers 5.5% short of July 2015 final numbers and 2.6% cooler than June 2016

July 2016- 3,302
July 2015 – 3,494
June 2016- 3.390

New Listings
Housing Market in Portland Metro Area for new listings rose 2.3% from July 2015, however was lower by 2.9% from June.  That being said July 2016 ending at on one of the strongest Julys’ for new listings since 2008.

July 2016- 4,372
July 2015 – 4,273
June 2016- 4,501
July 2016 Portland Housing Market By the Numbers

One of the biggest issues in the Portland Metro Area housing market is inventory. It is extremely low in July 2014 inventory was at 2.9 months, last year 1.7 months and this year July ended with 1.9 months. That is up from June 1.5 months. In July 2016, days on the market ended at 32 days overall in the Portland Housing Market that is one less from last month is 33 days.

June had a total of 4,762 active listings and this month completed with 5,360 active residential listings in the Portland Metro Area!

Home prices in Portland highlighted unbelievable prices.  The Average home price in the Portland metro area real estate market is at $391,600 that is 11.4% jump from 2015.  Median sale price rose again by 11.5% to $340,000!

Where are the most Active Listings in Portland for July 2016!

Neighborhood                                     Total of Active Listings                 Total Market time

North Portland                                                161                                               16 days
Northeast Portland                                        367                                                24 days
Southeast Portland                                        563                                                25 days
West Portland                                                 659                                                26  days

 

Median Sales Prices for July 2016 for the Portland Metro are as listed below…

$536k- Lake Oswego/West Linn
$486,2k- West Portland
$394k- Tigard/Tualatin/Sherwood/Wilsonville
$385,5k  NE Portland
$355k- Milwaukie/Gladstone
$345k- North Portland
$336,9k- SE Portland
$333k- Oregon City/ Canby/ Molalla/ Beavercreek
$315k- Beaverton/Aloha
$308k- Hillsboro / Forest Grove
$290,3k- Gresham/Sandy/Troutdale/Fairview

To Read More about the July 2016 Housing Market in Portland and Vancouver, WA- Click the below Link!
Portland Metro Area Real Estate Market July 2016 Report Click Here
Vancouver & SW Washington Real Estate Market July 2016 Report Click Here

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Portland Real Estate Market Report- June 2016

object_house_magnifying_glass

Summer is officially here and Real estate market in the Portland metro area ended June 2016 with some of the best numbers in new listing since June 2008! We are continuing to seeing a hot housing market for the area however there has been some tiny decreases in the final June 2016 numbers compared to June 2015 in closings and pending. The regions lack of housing inventory, which is showing some of the lowest inventory in years, could be the cause of pending and closing sales to display a decrease. On a positive side, there was a slight increase in inventory achieved in June at 1.5 months of inventory, which was higher than May, which ended at 1.4 months.

Closings

June 2016- 3,158
June 2015- 3,302
May 2016- 2,896

Closed sales displayed a 9.0% increase from last month (May) numbers; however, it decreased 4.4% from June of last year’s numbers.

Pendings

June 2016- 3.390
June 2015- 3. 605
May 2016- 3,563

Pending sales in June fell 4.9% over May 3,563, and even more interesting is that June 2016 was 6.0% behind June 2015 numbers.

New Listings
June 2016- 4,501
June 2015- 4,280
May 2016- 4,144

New listings in June showed significant increase from the previous year and month. June 2016 finished with 4,501 new residential listings to hit RMLS. That is 8.6% increase over May 2016 and 5.2% over June 2015.

June 2016 Portland Housing Market By the Numbers

June increase the number of months on the market by 0.1 from May, ending with 1.5 months of inventory. The total days on the market went from 37 days in May to only 33 days at the end of June. Portland Metro Real Estate Housing Market ended June with 4, 762 active residential listings.

The Average sale price continues to climb, residential homes in the Portland area rose 11.8% from June 2015 ending with Average price $388,800 and median sale price rose 13.3% from June of 2015 $300,000 to $339,900!

The overview of the real estate activity thus far in 2016 has some intriguing results from 2015. Closing sales are up by 2.2%. However new listings are down 0.3% and pending are down 2.2%. This could be due to the lack of inventory in the Portland area. In 2015, in the first 6 months, the average months of inventory was 2.23 months and in 2016 thus far is at 1.5 months of inventory. Inventory continues to be an issue in the area.

Condo Market in the Portland Metro Area

Over the last few months, the Portland condo market has become alive with active listings and closing sales neck and neck. In June active listings were higher than closing sales in a close margin. Median Sale price lower slightly below $250,000.

Where are the most Active Listings in Portland for June 2016?

Neighborhood                                     Total of Active Listings                 Total Market time

North Portland                                                140                                                24days
Northeast Portland                                        293                                                21 days
Southeast Portland                                        447                                                24 days
West Portland                                                 584                                               32  days

 

Median Sales Prices for June 2016 for the Portland Metro are as listed below…

$535k- Lake Oswego/West Linn
$479k- West Portland
$400k- Tigard/Tualatin/Sherwood/Wilsonville
$400k- North Portland
$388,3k  NE Portland
$365k- Milwaukie/Gladstone
$350k- Oregon City/ Canby/ Molalla/ Beavercreek
$331k- Beaverton/Aloha
$328,7k- Hillsboro / Forest Grove
$317k- SE Portland
$288,8k- Gresham/Sandy/Troutdale/Fairview

Portland Metro Area Real Estate Market June 2016 Report Click Here
Vancouver & SW Washington Real Estate Market June 2016 Report Click Here

Portland Real Estate Market Report- May 2016

OlinDay-8

Its official the Portland metro real estate market has hit and exceeded the 2007 record high prices! In the last 2 years Portland residential housing market median and average prices have soared, with no end in sight. The end of May highlighted that we have reached and past 2007 numbers. The average sale price in May 2016 ended up 11.9% up from May 2015 at $383,000, which was higher than 2007 top $355,000. Median sale prices rose 13.3% from May 2015 to $334,200, which was higher than 2007 top $302,000!

Closings
May 2016- 2,896
May 2015- 2,942
April 2016- 2,611

Closed sales increased 10.9% from last month’s numbers. In total May finished up with 2,896 closed sales, however it was 1.6% lower than closing in May 2015.

Pendings
May 2016- 3,563
May 2015- 3,546
April 2016- 3,432

Pending sales ended at 3,563, which was 0.5% higher than accepted offers from May 2015. Compared to last month there was an increase of 3.8% in pending sales.

New Listings
May 2016- 4,144
May 2015- 4,161
April 2016- 4,082

May finished up with 4,144 new residential listings added to rmls! That number was 0.4% lower than May 2015 number. On the plus side, it was 1.5% higher over April 2016 number 4,082.
May 2016 Portland Housing Market By the Numbers Inventory continues to be an issue in the Portland Housing Market as months on inventory remains low and unchanged from April and stands at 1.4 months. Total time on the market decreased to 37 days!

Condo Market in the Portland Metro Area The Portland Metro Condo market has finally caught up to the residential housing market in the area. In May there were more closed sales than active listings and the median condo sale price has climbed to close to $250,000.

Where are the most Active Listings in Portland for May 2016?

Neighborhood                                     Total of Active Listings                 Total Market time
North Portland                                                124                                                32 days
Northeast Portland                                        236                                                23 days
Southeast Portland                                        349                                                 20 days
West Portland                                                 476                                                 31  days

 

Median Sales Prices for May 2016 for the Portland Metro are as listed below…

$511k- Lake Oswego/West Linn
$490,5k- West Portland
$390,5k- Tigard/Tualatin/Sherwood/Wilsonville
$372,5k  NE Portland
$365,9k- North Portland
$359,4k- Oregon City/ Canby/ Molalla/ Beavercreek
$357,6k- SE Portland
$340,5k- Gresham/Sandy/Troutdale/Fairview
$325k- Milwaukie/Gladstone
$320k- Beaverton/Aloha
$303k- Hillsboro / Forest Grove

Portland Metro Area Real Estate Market May 2016 Report Click Here
Vancouver & SW Washington Real Estate Market May 2016 Report Click Here

Portland Real Estate Market Report- April 2016

downtown portland

Spring is underway and the Portland metro housing market is blooming. The Portland housing crises has been in the news recently and many publications considered the Portland Metro Area to be one of the HOTTEST Sellers’ market in the US. This trend is expected to continue into summer and beyond, with no end in sight. A few factors may slow this down; the influx of people moving to the area slows, interest rates going up, or more homes are built to keep up with demand.

Closings
April 2016-   2,611
April 2015-   2,734
March 2016- 2,565

Closing sales were slightly lower by 4.5% from last April’s numbers 2,734. However the number improved by 1.8% from March 2016.

Pendings
April 2016-   3,432
April 2015-   3,613
March 2016- 3,076

Pending sales in April 2016 increased 11.6% from the number of accepted offers in March 2016. When you compare last April from this April, there were 5.0% lower pending residential listings in the Portland Metro area.

New Listings
April 2016- 4,082
April 2015- 3,949
March 2016- 3,409

New listing total numbers for April 2016 was 3.4% higher than 2015. There are huge gains from last month in new listings by 19.7%. The Portland market hasn’t seen new listings in April this high since April 2010 with 4,713.

April 2016 Portland Housing Market By the Numbers In March, months of inventory was 1.3, in April that number rose to 1.4 months of inventory. Days on the market in the Portland Real Estate Market ended at an average of 43 days. As of April 30, there was 3,721 active listings on the market in Portland. Average price from April 15-16 rose 8.7% and Median prices rose 9.8%.

Where are the most Active Listings in Portland for April 2016? Neighborhood
Total of Active Listings                 Total Market time

North Portland                                                95                                                25 days
Northeast Portland                                        219                                                25 days
Southeast Portland                                        315                                                29 days
West Portland                                                 422                                                31  days

 

Median Sales Prices for April 2016 for the Portland Metro are as listed below…

$599,1k- Lake Oswego/West Linn
$479,9k- West Portland
$413k  NE Portland
$387,3k- Tigard/Tualatin/Sherwood/Wilsonville
$377,8k- North Portland
$350k- Milwaukie/Gladstone
$335,5k- Oregon City/ Canby/ Molalla/ Beavercreek
$321,8- SE Portland
$310k- Beaverton/Aloha
$308,3k-Hillsboro / Forest Grove
$269,5k- Gresham/Sandy/Troutdale/Fairview
 
Portland Metro Area Real Estate Market April 2016 Report. Click Here
Vancouver & SW Washington Real Estate Market April 2016 Report Click Here