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.

Please list additional rooms and describe any special features and upgrades. For example: new roof, custom kitchen, near park, etc.
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