Portland Real Estate Market Report- September 2017

The leaves are falling and just like that it’s fall in the Portland Metro Area. Typically the real estate market stays busy this time of year and then starts to slow down around the holidays. However based on the September real estate market numbers, this year it looks like the cooling has already started. Real Estate Market numbers across the board have been down this year compared to 2016. Has the Portland real estate market hit its peak? Only time will tell, however if these numbers continue into 2018 it could be a sign that booming real estate market is starting to loose traction.

The number of residential closings in the Portland metro area for September 2017 was not able to beat 2016 numbers, ending down 5.8%. The numbers of closings were down 12.3% from last month’s closing numbers.

Closings
September 17’ – 2,660
September 16’- 2,823
August 17’- 3,034

In the Portland Metro Real Estate Market pending sales were down 11.1% from last month and decreased from September 2016 by 4.4%.

Pendings
September 17’ – 2,730
September 16’- 2,857
August 17’- 3,072

Cooler activity is present in New Listings in the Portland Metro Area. Residential listings that came on the market in September were 10% less than last month. It also missed the market at new listings offered last year by 0.8%.

New Listings
September 17’ – 3,644
September 16’- 3,673
August 17’- 4,048

September 2017 Portland Housing Market By the Numbers
Residential inventory in the Portland real estate market increased from 2.0 months of inventory last month to 2.3 months in September. Total days on the market for a home in September rose 3 days from August ending at 37 days. In addition the number of listing on the real estate market in the Portland metro area ending at 5,998 that is slightly up from August that ended at 5,940. As talked about in our last blog post, Activity in the Portland real estate market is down across the board from last year, the latest numbers are as followed.

New listing: Down 2.5%
Pending: Down 7.2%
Closings: Down 3.2%

Even though we are seeing slowing in the Portland Metro area residential listings numbers. Prices are not seeing any signs of slowing from September 2016 to 2017. The median sale price rose 10.1% from $345,000 to $379,900. The Average sale price rose 9.2% from $392,600 to $428,800. However, it should be noted that the average sale price last month (August 2017) was $429,000, which is a decrease of the average home price of $200 from this month to last month.

Where are the most Active Listings in Portland for September 2017?
Neighborhood Total of Active Listings Total Market time:
North Portland                                                       238                           36 days
Northeast Portland                                              454                           34 days
Southeast Portland                                              630                           36 days
West Portland                                                        778                           46 days

Median Sales Prices for September 2017 for the Portland Metro are as listed below…
$568,8K- Lake Oswego/West Linn
$489k- West Portland
$405k- Tigard/Tualatin/Sherwood/Wilsonville
$403,5k- NE Portland
$399,8k- Oregon City/ Canby/ Molalla/ Beavercreek
$380k- Milwaukie/Gladstone
$369,9k- Hillsboro / Forest Grove
$366k- North Portland
$350k- Beaverton/Aloha
$346,5k- SE Portland
$325k- Gresham/Sandy/Troutdale/Fairview

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

Real estate is always shifting and adjusting- The seasoned agents at Taylor Group Realty are aware of the market and are prepared for anything that could happen in the future. Contact us to get a FREE market analysis to see how much you can sell your home for in this market. Now is the time to List your house

Portland Real Estate Market Report- August 2017


Photo by Zach Savinar on Unsplash

Summer ended in the Portland Real Estate market with the same mix activity that kicked off the summer real estate season. There were some positive notes; however it has become apparent that 2017 summer numbers in the real estate market will not beat 2016 numbers in area of Closing, Pending and New Listing. The one area that continues to beat out 2016 real estate numbers in the Portland Metro area is prices, they continue to show a climb upwards.

In the Portland real estate market the number of closed residential listings increased by 1.1% from last year 2016. It also jumped 8.6% from the previous month.

Closings
August 17′ – 3,034
August 16’ – 3,001
July 17’ – 2,793

Residential homes in the Portland area that became pending in August barely beat out July numbers by 1.1%. However it fell short of beating out August of 2016 by 7.6%.

Pendings
August 17’- 3,072
August 16’- 3,325
July 17’ – 3,040

Residential Listings in the Portland metro real estate market that went on the market in August was under July 2017 and August of 2016 numbers both by 3.7%.

New Listings
August 17’- 4,048
August 16’- 4,203
July 17’ – 4,202

August 2017 Portland Housing Market By the Numbers-
In the Portland housing market inventory decreased from 2.1 months on the market in July to 2.0 months on August. Average days on the market increased to 34 days in August from 33 days in July 2017. As of the end of August 2017 there were over 5,940 active residential listings in the Portland Metro area. As with last month the activity in 2017 has shown cooling form the hot real estate market we saw last year. Thus far in 2017 in the Real Estate market in the Portland Metro area-
New listing: Down 2.6%
Pending: Down 7.6%
Closings: Down 2.7%

Prices however are showing no downturn thus far, from August 2016 to 2017 the average sales price rose 9.3% from $392,600 for a home in the area to $429,000. Median sales price rose 10.7% from $343,200 to $379,900.

Where are the most Active Listings in Portland for August 2017?
Neighborhood Total of Active Listings Total Market time

North Portland                                                      248                         25 days
Northeast Portland                                              477                          27 days
Southeast Portland                                              612                           31 days
West Portland                                                       766                          45 days

Median Sales Prices for August 2017 for the Portland Metro are as listed below…
$612K- Lake Oswego/West Linn
$482,5k- West Portland
$415k- Tigard/Tualatin/Sherwood/Wilsonville
$410k- North Portland
$409k- NE Portland
$390k- Milwaukie/Gladstone
$380k- Oregon City/ Canby/ Molalla/ Beavercreek
$355k- Hillsboro / Forest Grove
$354k- Beaverton/Aloha
$349,9k- SE Portland
$321k- Gresham/Sandy/Troutdale/Fairview

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

Real estate is always shifting and adjusting- The seasoned agents at Taylor Group Realty are aware of the market and are prepared for anything that could happen in the future.
Contact us to get a FREE market analysis to see how much you can sell your home for in this market. Now is the time to List your house

Portland Real Estate Market Report- July 2017

The Portland Real Estate numbers for July have been released. It is becoming a fairly good bet that in 2017 overall in the Portland Real Estate Market will not surpass 2016 hot real estate numbers. This could be a sign that the Real Estate Market in the Portland Metro area is seeing a cooling from last summer hot market and/or the market is starting to plateau. The rest of the year numbers will be a good indicator of what is ahead for the real estate market in the Portland area for 2018 and where the shift in the market is happening.

Closing residential sales in the Portland Metro real estate market for July turned down slightly 12.4% from last month. And barely beat July 2016 numbers by 0.6%.

Closings
July 17’ – 2,793
July 16’- 2,776
June 17’- 3,187

Residential homes in the real estate market had less pending in July 2017, falling short 7.9% of July 2016 numbers and 6.6% short from last month.

Pendings
July 17’ – 3,040
July 16’- 3,302
June 17’- 3,254

In the Portland real estate market new listing showed a downturn from July 2016 by 3.9% and an 11.3% loss from June 2017.

New Listings
July 17’ – 4,202
July 16’- 4,372
June 17’- 4,739

July 2017 Portland Housing Market By the Numbers

Even with the down numbers in the overall market in the Portland Metro area, days on the market of a residential listing went down to 33 days from 38. Months of inventory did jump from 1.6 in June to 2.1 months of inventory ending in July. The last time the real estate market was around 2 months of inventory was last year in September/October of 2016. Thus far in 2017;

New listing: Down 2.4%
Pending: Down 7.6%
Closings: Down 3.3%

Even with the overall down stats for 2017 thus far, prices continue to rise. From July 2016 to July 2017 the average sale price in the Portland Metro real estate market rose 9.3%, in terms of prices they went from $391,600 in July 2016 to $428,000 in July 2017. That is also $1,000 price increase from last month that ended at $427,000 for the average sale price for Real Estate in the Portland Metro area. The median sale price rose 11.2% from $340,000 to $378,000.

Where are the most Active Listings in Portland for July 2017?
Neighborhood Total of Active Listings Total Market time
North Portland                                         245                    43 days
Northeast Portland                                 458                     28 days
Southeast Portland                                 572                     26 days
West Portland                                          787                    40 days

Median Sales Prices for July 2017 for the Portland Metro are as listed below…
$622,5k- Lake Oswego/West Linn
$515k- West Portland
$430k- NE Portland
$415k- Tigard/Tualatin/Sherwood/Wilsonville
$395k- Oregon City/ Canby/ Molalla/ Beavercreek
$389,9k- Milwaukie/Gladstone
$375k- North Portland
$360k- SE Portland
$359,3k- Beaverton/Aloha
$353k- Hillsboro / Forest Grove
$315k- Gresham/Sandy/Troutdale/Fairview

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

Real estate is always shifting and adjusting-
The seasoned agents at Taylor Group Realty are aware of the market and are prepared for anything that could happen in the future. Contact us to get a FREE market analysis to see how much you can sell your home for in this market. Now is the time to List your house.

Portland Real Estate Market Report- June 2017

Portland Real Estate Market Report- June 2017

The end of spring has arrived in the Portland Metro Area and the real estate market is showing a slight improvement. If you have been following the Taylor Group Realty’s past blog post you know that the Portland real estate market has been a tad slower this year and has been unable to beat many of the records that were set in 2016. Many agents in the Portland Metro area will tell you that typically the real estate market in this area heats up in June and last until about mid- October. The numbers in June reflect that the summer heat up June under way, however indicators are pointing out that the summer of 2017 will not be as hot and sizzling as 2016.

The Portland real estate market closings shined in June 2017. Closings were up 10.0% better than May and is 0.9% higher than June 2016!

Closings
June 17’- 3,187
June 16’- 3,158
May 17’ – 2,896

Pending sales of residential homes in the Portland metro area ended at 3,254 pending listings and was unable to beat June 2016 numbers by 4.0%. In addition it feel short by 5.3% to May 2017.

Pendings
June 17’- 3,254
June 16’- 3,390
May 17’ – 3,435

In new Listings June was the strongest since 2008 when the Portland Metro area offered 5,213 listings. It beat out the high number of 2016 by 5.3% and compared to May it was up 8.0%.

New Listings
June 17’- 4,739
June 16’- 4,501
May 17’ – 4,388

June 2017 Portland Housing Market By the Numbers

The number of days on the market for a residential listing is ended at 38 days that is down one day from May’s number of 39. Months of inventory in the Portland real estate market up 0.1. Currently Portland has 1.6 months of inventory on hand, that up from June 2016 1.5 months and even to June 2015 at 1.6 months. As we mentioned last month, it appears that 2017 has been cooler than the sizzling real estate market of 2016, however numbers are still some of the highest since before the real estate market crash.

Listings: Down 1.8%
Pendings: Down 7.2%
Closed: Down 3.9%

A surprise to local Portland real estate agents is that even though the market is cooler than 2016, prices continue to climb! In May home prices ended at $423,800 and June rose 9.0% from June 2016 ending at $427,000.  The median sales price finished in May 2017 at $370,000. This month it rose 10.3% from June 2016 ending at $375,000.

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

Neighborhood                                     Total of Active Listings                 Total Market time

North Portland                                                196                                              21 days
Northeast Portland                                        419                                               29 days
Southeast Portland                                        511                                                26 days
West Portland                                                 706                                               39 days

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

$581,3k- Lake Oswego/West Linn
$486,3k- West Portland
$425k- Tigard/Tualatin/Sherwood/Wilsonville
$415,5k  NE Portland
$415k- Milwaukie/Gladstone
$391k- North Portland
$385k- Oregon City/ Canby/ Molalla/ Beavercreek
$360k- SE Portland
$353k- Hillsboro / Forest Grove
$350k- Beaverton/Aloha
$322k- Gresham/Sandy/Troutdale/Fairview

Portland Metro Area Real Estate Market June 2017  Report Click Here

Vancouver & SW Washington Real Estate Market June 2017  Report Click Here

It is still a Seller’s Market! If you are thinking about Selling your home Now might be the best time, Contact us to get a FREE market analysis to see how much you can sell your home for in this market. Now is the time to List your house.

 

Portland Real Estate Market Report- May 2017

The end of spring has arrived in the Portland Metro Area and the real estate market is showing a slight improvement. If you have been following the Taylor Group Realty’s past blog post you know that the Portland real estate market has been a tad slower this year and has been unable to beat many of the records that were set in 2016. Many agents in the Portland Metro area will tell you that typically the real estate market in this area heats up in May and last until about mid- October. The numbers in May reflect that the summer heat up maybe under way, however indicators are pointing out that the summer of 2017 will not be as hot and sizzling as 2016.

In May 2017, the number of residential listing that have closed in the month ending at 2,896 tied May 2016 numbers. The number of closings also beat out April 2017 closings by 30.5%.

Closings
May 17’- 2,896
May 16’- 2,896
April 17’ – 2,219

Pending sales in the real estate market in Portland for May rose above April’s number by 11.2% however it did not beat pending sales from May 2016, down by 3.6%.

Pendings
May 17’- 3,435
May 16’- 3,563
April 17’ – 3,088

New residential listing that hit the Portland real estate market in May were strong with over 4,388! That beat May 2016 5.9% and also beat out last month’s number by 16.7%. It was the strongest offering of new listings since May 2008 with 5,128

New Listings
May 17’- 4,388
May 16’- 4,144
April 17’ – 3,759

 

May 2017 Portland Housing Market By the Numbers 

In the Portland real estate market, the days a residential listing is on the market ended at 39 days, that is down 3 days from April’s 42. May also showed a decrease of Months of inventory from April 1.7 to May 1.5 months of inventory. As mentioned above the overall real estate activity in the Portland metro area is down from 2016, here are the current numbers.
Listings: 3.4%
Pendings: 7.8%
Closed: 5.4%

Although overall Listings, Pending and Closing are down from 2016. Housing prices in the Portland Metro are continuing to climb. May 2016 to May 2017 residential home prices increased 10.7% to $423,800 from $383,000. The median sale price is also up 10.7%  finishing the month at $370,000.

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

Neighborhood                                     Total of Active Listings                 Total Market time
North Portland                                                164                                              28 days
Northeast Portland                                        303                                              27 days
Southeast Portland                                        431                                                   28 days
West Portland                                                 606                                              44 days

 

Median Sales Prices for May 2017 for the Portland Metro are as listed below…
$548k- Lake Oswego/West Linn
$527k- West Portland
$426,8k  NE Portland
$425k- Tigard/Tualatin/Sherwood/Wilsonville
$403k- North Portland
$384k- Milwaukie/Gladstone
$355k- SE Portland
$351,8k- Beaverton/Aloha
$349,9k- Oregon City/ Canby/ Molalla/ Beavercreek
$345k- Hillsboro / Forest Grove
$312,5k- Gresham/Sandy/Troutdale/Fairview

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

 It is still a Sellers’ Market! If you are thinking about Selling your home Now might be the best time, Contact us to get a FREE market analysis to see how much you can sell your home for in this market. Now is the time to List your house.