A Publication of RMLS™, The Source for Real Estate Statistics in Your Community

© Copyright RMLS™ 2014. All Rights Reserved.

Residential Review: Metro Portland, Oregon April 2014 Reporting Period

April HighlightsSeasonal activity was again

on the upswing this April in the Portland metro area! Closed sales, at 2,143, rose 15.4% from March’s 1,857 and represented a 0.8% increase over the 2,125 sales closed in April 2013. Despite the small increase, it was still the best April for closed sales in the Portland metro area since 2007, when there were 2,594. New listings (3,629) were up 0.2% compared to last April, when there were 3,623, and 17.4% compared to the 3,090 new listings posted in March. Pending sales (2,825) increased 11.5% from March’s 2,534 but dropped 4.0% from pendings in April 2013 (2,942).

There are currently 6,093 active residential listings in the Portland metro area. Total market time in the

region fell again to 77 days in April, and inventory again decreased to 2.8 months. Year to Date Summary

Portland has seen slim gains in 2014 compared to the first four months of 2013. Closed sales (7,141) are up 1.4% and new listings (11,806) are up 1.1% compared to the first four months of 2013. However, pending sales (8,971) are down 3.7% in the same comparison.Average and Median Sale Prices

The average price the first four months this year was $325,100, up 10.7% from same time in 2013 when the average was $293,600. In the same comparison, the median rose 10.0% from $250,000 in the first four months of 2013 to $275,000 in the same period of 2014.

New Listings

Pending Sales

ClosedSales

AverageSale Price

MedianSale Price

Total Market

Time

April 3,629 2,825 2,143 332,600 280,000 77

March 3,090 2,534 1,857 328,100 277,500 85

Year-to-date 11,806 8,971 7,141 325,100 275,000 88

April 3,623 2,942 2,125 302,600 257,000 91

Year-to-date 11,678 9,314 7,039 293,600 250,000 107

April 0.2% -4.0% 0.8% 9.9% 8.9% -14.8%

Prev Mo 2014 17.4% 11.5% 15.4% 1.4% 0.9% -9.4%

Year-to-date 1.1% -3.7% 1.4% 10.7% 10.0% -17.6%

2014

2013

Chan

ge

Portland Metro Residential highlights

*Inventory in Months is calculated by dividing the Active Residential Listings at the end of the month in question by the number of closed sales for that month. This includes proposed and under construction homes.

Inventory in Months*2012 2013 2014

January 7.0 4.7 4.1February 6.5 4.5 3.9March 5.0 3.2 3.1April 4.7 3.1 2.8May 4.2 2.5June 3.9 2.9July 4.6 2.8August 3.9 3.1September 4.6 3.7October 3.8 3.4November 4.2 3.7December 3.6 3.2

Percent Change of 12-Month Sale Price Compared With The Previous 12 Months

Average Sale Price % Change: +11.6% ($318,900 v. $285,700)Median Sale Price % Change: +13.8% ($273,000 v. $240,000)

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

2© Copyright RMLS™ 2014. All Rights Reserved.

AREA REPORT • 4/2014 Portland Metropolitan Area, Oregon

1 Percent change in number of pending sales this year compared to last year. The Current Month section compares April 2014 with April 2013. The Year-To-Date section compares 2014 year-to-date statistics through April with 2013 year-to-date statistics through April.

2 % Change is based on a comparison of the rolling average sale price for the last 12 months (5/1/13-4/30/14) with 12 months before (5/1/12-4/30/13).3 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.

Act

ive

List

ings

New

Lis

tings

Expi

red/

Can

cele

d Li

stin

gs

Pend

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Sale

s

Pend

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s 20

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. 201

31

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3

New

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. 201

31

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Med

ian

Sale

Pric

e

Avg

. Sal

e Pr

ice

% C

hang

e2

Clo

sed

Sale

s

Ave

rage

Sal

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ice

Clo

sed

Sale

s

Ave

rage

Sal

e Pr

ice

Clo

sed

Sale

s

Ave

rage

Sal

e Pr

ice

141

N Portland 201 164 18 130 -4.4% 100 290,500 58 507 424 2.7% 367 275,400 260,000 15.7% 4 220,300 4 188,400 11 421,700

142

NE Portland 343 329 51 263 -14.6% 194 378,000 46 989 817 -11.0% 676 346,000 285,000 11.1% 12 389,100 14 118,000 24 368,400

143

SE Portland 544 380 61 323 -3.6% 288 304,000 55 1,344 1,101 3.8% 905 292,800 249,000 15.4% 7 494,700 17 143,500 42 476,400

144 Gresham/

Troutdale 486 238 50 178 12.7% 137 233,900 113 811 558 9.8% 437 230,200 220,000 13.2% 5 177,400 20 141,400 11 331,200

145 Milwaukie/

Clackamas 521 296 84 234 -11.7% 176 307,700 80 953 714 -9.2% 530 298,900 275,000 14.8% 2 401,800 38 169,800 6 348,500

146 Oregon City/

Canby 403 199 57 143 -2.7% 103 278,500 76 648 480 1.3% 385 293,100 279,000 15.3% 1 405,000 25 236,700 4 268,500

147 Lake Oswego/

West Linn 450 211 39 155 -3.1% 108 565,400 86 775 491 -10.1% 379 525,400 440,500 7.9% 1 712,500 13 401,000 1 395,000

148

W Portland 655 414 78 315 -9.0% 228 473,500 88 1,341 992 -2.8% 796 466,500 379,300 7.6% 2 45,000 25 188,400 13 639,100

149

NW Wash Co. 239 177 24 144 6.7% 120 441,900 87 574 461 -1.3% 382 413,700 378,800 9.7% - - 11 238,900 2 324,300

150 Beaverton/

Aloha 432 336 49 256 -7.6% 192 274,200 59 1,038 788 -6.9% 615 269,700 245,000 13.7% - - 4 115,200 14 380,000

151 Tigard/

Wilsonville 522 311 51 254 -3.8% 171 314,400 61 1,013 752 -15.7% 571 323,900 306,000 8.1% 4 781,400 16 276,800 3 594,000

152 Hillsboro/

Forest Grove 390 247 45 175 -11.2% 164 259,200 81 775 657 -0.8% 544 256,000 234,600 12.7% 6 237,500 23 182,300 6 240,400

153

Mt. hood 91 25 6 19 90.0% 12 265,700 147 82 67 45.7% 54 249,900 235,000 16.9% 1 395,000 3 33,500 - -

155

Columbia Co. 264 100 23 92 13.6% 42 204,200 171 309 240 6.2% 166 200,000 188,700 25.9% 6 272,500 14 107,200 3 180,000

156

Yamhill Co. 552 202 54 144 17.1% 108 233,700 130 647 429 -4.2% 334 252,700 215,500 12.1% 5 232,700 24 157,600 5 302,500

Year-To-Date

COMMERCIAL LAND MULTIFAMILYRESIDENTIAL

Year-To-Date Year-To-DateCurrent Month Year-To-Date

3© Copyright RMLS™ 2014. All Rights Reserved.

NEW LISTINGS PORTLAND, OR

This graph shows the

new residential listings

over the past three

calendar years in the

greater Portland, Oregon

metropolitan area.

TOTAL ACTIVE LISTINGS

PORTLAND, OR

This graph shows the

total active listings over

the past three calendar

years in the greater

Portland, Oregon

metropolitan area.

ACTIVE RESIDENTIAL

LISTINGSPORTLAND, OR

This graph shows the active

residential listings over the

past three calendar years in

the greater Portland,

Oregon metropolitan area.JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

2012 8,514 8,256 8,391 8,523 8,742 8,799 9,041 9,014 8,689 7,981 7,216 6,3522013 6,366 6,256 6,207 6,498 6,818 7,348 7,849 8,003 7,903 7,355 6,751 5,7072014 5,671 5,752 5,811 6,093

4,000

5,000

6,000

7,000

8,000

9,000

10,000

Active Residential Listings

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC2012 11,175 10,939 10,957 11,146 11,465 11,448 11,709 11,629 11,263 10,542 9,659 8,3742013 8,519 8,435 8,385 8,673 9,002 9,564 10,138 10,293 10,223 9,573 8,884 7,5112014 7,606 7,731 7,702 8,066

5,000

7,500

10,000

12,500

Total Active Listings

0500

1,0001,5002,0002,5003,0003,5004,0004,500

New Listings

2012 2013 2014

© Copyright RMLS™ 2014. All Rights Reserved.4

This graph represents

monthly accepted offers

in the Portland, Oregon

metropolitan area over

the past three calendar

years.

PENDING LISTINGS PORTLAND, OR

This graph shows the

closed sales over the past

five calendar years in the

greater Portland, Oregon

metropolitan area.

CLOSED SALES PORTLAND, OR

This graph shows the

average market time for

sales in the Portland,

Oregon metropolitan area

over the past three calendar

years.

DAYS ON MARKETPORTLAND, OR

0

500

1,000

1,500

2,000

2,500

3,000

3,500

Pending Sales

2012 2013 2014

0

500

1,000

1,500

2,000

2,500

3,000

Closed Sales

2010

2011

2012

2013

2014

020406080

100120140160

Average Total Market Time

2012 TMT 2013 TMT 2014 TMT

© Copyright RMLS™ 2014. All Rights Reserved.5

This graph represents the average and median sale price for all homes sold in

the Portland, Oregon metropolitan area.SALE PRICE PORTLAND, OR

$175,000

$195,000

$215,000

$235,000

$255,000

$275,000

$295,000

$315,000

$335,000

$355,000

$375,000

Apr

-05

Jul-0

5O

ct-0

5Ja

n-06

Apr

-06

Jul-0

6O

ct-0

6Ja

n-07

Apr

-07

Jul-0

7O

ct-0

7Ja

n-08

Apr

-08

Jul-0

8O

ct-0

8Ja

n-09

Apr

-09

Jul-0

9O

ct-0

9Ja

n-10

Apr

-10

Jul-1

0O

ct-1

0Ja

n-11

Apr

-11

Jul-1

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n-12

Apr

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Apr

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3Ja

n-14

Apr

-14

Average and Median Sale Price

Average Sale Price Median Sale Price

$100,000$120,000$140,000$160,000$180,000$200,000$220,000$240,000$260,000$280,000$300,000

APR MAY JUNE JULY AUG SEPT OCT NOV DEC JAN FEB MAR APR

Median Sale Price: Portland, OR & Clark Co., WA

Clark County Metro Portland, OR

This graph shows the

median sale price over

the past 12 months in

the greater Portland,

Oregon, metropolitan

area and Clark

County.

MEDIAN SALE PRICE

PORTLAND, OR

$ 210,000

Yamhill County

$ 275,800N Portland

$ 326,000 NEPortland

$ 261,000 SEPortland

$ 228,000GreshamTroutdale

SandyCorbettFairview $ 203,000

Mt. Hood:Zigzag

WelchesRhododendron

WemmeBrightwood

Government Camp

$ 274,000Milwaukie/Gladstone/Boring/ClackamasEstacada

$ 266,000Oregon City

CanbyMolalla

Beavercreek

$ 487,500 Lake Oswego

West Linn

$ 390,500 West Portland

$ 415,000North Washington County

Sauvie Island

$ 250,800Beaverton

Aloha

$ 301,200 Tigard/Tualatin

SherwoodWilsonville

$ 232,500Hillsboro

Forest Grove

$ 207,000Columbia County

$223,000 Heights

$191,000Cent. Vancouver

$225,000Cascade Park

$194,0005 Corners

Orch.

$223,000HazelDell

Minnehaha

$232,200Felida

$295,000Salmon Creek

$279,700Camas/Washougal

$325,600

Brush Prairie

Hockinson

$275,000

Ridge�eld/La Center

$213,800

Battle Ground

$268,000

N/NE Clark County$175,300

Woodland

MEDIAN SALE PRICE April 2014

PORTLANDMETRO

6© Copyright RMLS™ 2014. All Rights Reserved.

SW WAShINGTON

MULTIPLE LISTING SERVICE

The statistics presented in Market Action are compiled monthly based on figures generated by RMLS™.

Market Action Reports are compiled for the following areas: Portland metropolitan area, Southwest Washington, Mid-Columbia, Columbia Basin, Baker County, Coos County, Curry County, Douglas County, Grant County, Lane County, North Coastal Counties, Polk & Marion Counties, Union County, and Wallowa County.

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™.

Brian Houston, Chairman of the BoardKurt von Wasmuth, President/CEOHeather Andrews, Editor

© Copyright RMLS™ 2014. All Rights Reserved.

Lane County: FlorencePO Box 414

Florence, OR 97439(541) 902-2560

Fax: (541) 902-1341

Curry County16289 Hwy 101 S, Suite E

Brookings, OR 97415(541) 469-0219

Fax: (541) 469-9695

Lane County: Eugene2139 Centennial Plaza

Eugene, OR 97401(541) 686-2885

Fax: (541) 484-3854

Southwest Washington1514 Broadway, Suite 101

Vancouver, WA 98663(360) 696-0718

Fax: (360) 696-9342

Douglas County3510 NE EdenbowerRoseburg, OR 97470

(541) 673-3571Fax: (541) 673-6581

Corporate8338 NE Alderwood Rd, Suite 230

Portland, OR 97220(503) 236-7657

Fax: (503) 230-0689

Mid-ColumbiaPO Box 1088

Hood River, OR 97031(541) 436-2956

Fax: (541) 387-6657

Eastern OregonPO Box 751

Hermiston, OR 97838(541) 567-5186

Fax: (541) 289-7320

Coos County1946 Sherman Ave., Suite 101

North Bend, OR 97459(541) 751-1070

Fax: (541) 751-1083

Salem4035 12th Street Cutoff SE, Suite 110

Salem, OR 97302(503) 587-8810

Fax: (503) 585-3817

AFFORDABILITYPORTLAND, OR

This graph shows the affordability for housing in Portland, Oregon in March 2014.

020406080

100120140160180200

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Affordability Index

AFFORDABILITY - According to a formula from the National Association of Realtors®, buying a house in the Portland metro area is affordable for a family earning the median income. A family earning the median income ($69,400 in 2014, per HUD) can afford 131% of a monthly mortgage payment on a median priced home ($277,500 in March). The formula assumes that the buyer has a 20% down payment and a 30 year fixed rate of 4.34% (per Freddie Mac).

This graph shows the number of active and closed

condos in the Portland, Oregon, metropolitan area.

ACTIVE & CLOSED CONDOS

PORTLAND, OR

0

100

200

300

400

500

600

700

800

Active & Closed Condos

Active Listings Closed Sales