Portland Real Estate report from the latest RMLS stats

1. A Publication of RMLS™, The Source for Real Estate Statistics in Your Community
Residential Review: Metro Portland, Oregon October 2010 Reporting Period
October Residential Highlights Sale Prices
Inventory in Months*
Comparing October 2010 to The average sale price for October 2008 2009 2010
October 2009, closed sales decreased 2010 declined 2.4% compared to January 12.8 19.2 12.6
by 35.7%. Pending sales and new October 2009. The median sale price February 10.4 16.6 12.9
listings also fell by 21.5% and 9.4%, also fell 4.7%. March 9.1 12 7.8
respectively. The number of closed April 10.3 11 7.3
On a month-to-month basis,
sales and new listings are the lowest May 9.2 10.2 7
c o m p a r i n g O c t o b e r 2 010 t o June 9.5 8.2 7.3
they have been in October in a September 2010, the average sale July 10 7.3 10.8
comparison of the past three years price went down 1.1% ($276,800 August 9.9 7.8 11
(see graphs on pages 3 and 4). v. $279,900) and the median sale September 10.4 7.6 10.5
A comparison of October price also dropped 2.7% ($233,500 October 11.1 6.5 10.7
2010 with the previous month, v. $240,000). November 15 7.1
September 2010, shows closed sales December 14.1 7.7
Year-to-Date
decreased by 7.7% (1,292 v. 1,399). *Inventory in Months is calculated by dividing
When comparing January- the Active Listings at the end of the month in
Additionally, pending sales grew by October 2010 with the same period question by the number of closed sales for
3% (1,632 v. 1,584), and new listings in 2009, closed sales increased 3.7%. that month.
fell by 12.1% (3,119 v. 3,549). Pending sales were 3.4% lower, but
Percent Change of 12-Month Sale Price
At the month’s rate of sales, the new listings were up 4%. Compared With The Previous 12 Months
13,805 active residential listings
AFFORDABILITY: According to a formula from Average Sale Price % Change:
would last approximately 10.7 the National Association of REALTORS® , housing -3.3% ($283,100 v. $292,900)
months. Inventory in October 2010 in the Portland metro area remains affordable for
families earning the median income. Read more Median Sale Price % Change:
rose by 4.2 months compared to on page 7. -3.6% ($240,000 v. $249,000)
October 2009 (6.5 months).
For further explanation of this measure, see
the second footnote on page 2.
Portland Metro
Total
Residential
New Pending Closed Average Median Market
Highlights Listings Sales Sales Sale Price Sale Price Time
October 3,119 1,632 1,292 276,800 233,500 131
2010
Year-to-date 41,051 17,167 16,033 283,400 240,000 130
October 3,443 2,079 2,009 283,500 245,000 135
2009
Year-to-date 39,490 17,775 15,467 292,000 249,900 143
Change
October -9.4% -21.5% -35.7% -2.4% -4.7% -3.3%
Year-to-date 4.0% -3.4% 3.7% -2.9% -4.0% -8.7%
*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.

2. AREA REPORT • 10/2010
Metro Portland & Adjacent Regions, Oregon
RESIDENTIAL COMMERCIAL LAND MULTIFAMILY
Current Month Year-To-Date Year-To-Date Year-To-Date Year-To-Date
1
Pending Sales 2010 v. 2009
Pending Sales 2010 v. 2009
2
Expired/Canceled Listings
Avg. Sale Price % Change
Pending Sales 2010
Pending Sales 2010
3
Average Sale Price
Average Sale Price
Average Sale Price
Average Sale Price
Average Sale Price
Total Market Time
Median Sale Price
Active Listings
Closed Sales
Closed Sales
Closed Sales
Closed Sales
Closed Sales
New Listings
New Listings
141
N Portland 535 155 147 70 -36.9% 45 239,100 96 1,813 719 -18.6% 645 231,600 225,000 -1.2% 7 239,300 23 79,200 17 281,600
142
NE Portland 1,061 337 248 157 -31.1% 137 279,200 132 3,992 1,772 -4.5% 1,671 284,700 249,000 -1.3% 18 368,800 28 101,300 40 381,100
143
SE Portland 1,413 397 315 212 -34.4% 155 225,300 90 5,005 2,241 -11.2% 2,110 238,100 208,000 -3.4% 24 366,800 34 182,300 74 430,300
Gresham/
144
Troutdale 968 186 168 126 -10.0% 90 214,000 106 2,758 1,149 -1.5% 1,059 213,900 202,000 -3.8% 9 250,300 40 97,500 23 248,900
Milwaukie/
145
Clackamas 1,104 263 188 127 -6.6% 111 262,300 132 3,113 1,276 -3.5% 1,180 262,800 240,000 -6.7% 2 123,900 60 104,700 13 184,900
Oregon City/
146
Canby 816 142 128 68 -32.0% 62 251,300 143 2,114 824 -1.6% 790 257,500 230,000 -8.4% 12 224,000 34 139,000 7 317,700
Lake Oswego/
147
West Linn 956 186 187 84 -16.0% 72 414,200 209 2,596 936 10.6% 886 436,700 385,000 -8.0% 4 378,800 31 253,300 2 417,500
148
W Portland 1,676 351 343 211 -5.4% 146 411,100 175 4,957 1,944 11.0% 1,786 409,900 340,000 -5.0% 4 592,300 28 198,800 19 525,600
149
NW Wash Co. 591 137 100 87 26.1% 69 375,300 110 1,877 874 9.5% 819 368,100 338,000 -2.8% 3 168,000 18 291,700 5 274,000
Beaverton/
150
Aloha 1,201 289 220 143 -35.9% 114 207,600 120 3,787 1,576 -13.4% 1,484 240,800 217,000 -0.8% 6 209,800 17 381,300 27 254,000
Tigard/
151
Wilsonville 1,137 261 215 126 -16.0% 110 297,800 126 3,330 1,415 0.1% 1,338 304,200 278,500 -4.5% 3 201,700 30 250,900 19 245,900
Hillsboro/
152
Forest Grove 856 187 139 95 -31.7% 88 216,900 127 2,558 1,203 -5.5% 1,128 228,100 209,000 -7.6% 9 265,000 32 349,600 20 172,800
153
Mt. Hood 142 22 27 13 -23.5% 8 230,500 70 290 89 -3.3% 81 207,000 180,000 -19.7% - - 10 108,200 - -
155
Columbia Co. 510 65 79 46 0.0% 33 174,700 127 1,089 398 -6.6% 373 185,000 178,400 -9.4% 4 192,000 15 124,000 4 223,300
156
Yamhill Co. 839 141 148 67 -9.5% 52 210,200 157 1,772 751 -1.8% 683 217,400 192,000 -6.9% 8 204,900 29 139,000 9 201,600
168-178
Marion/Polk
Counties 1,160 175 188 81 -24.3% 65 177,300 171 2,216 748 -12.0% 697 199,100 176,000 -5.4% 10 274,800 59 76,400 14 454,500
180-195
North Coastal
200
Counties 1,585 179 239 76 -10.6% 54 276,700 148 2,405 710 12.7% 640 279,200 225,000 -4.9% 18 482,900 95 158,200 12 234,700
1
Percent change in number of pending sales this year compared to last year. The Current Month section compares October 2010 with October 2009. The Year-To-
Date section compares year-to-date statistics from October 2010 with year-to-date statistics from October 2009.
2
% Change is based on a comparison of the rolling average sale price for the last 12 months (11/1/09-10/31/10) with 12 months before (11/1/08-10/31/09).
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.
2
© Copyright RMLS™ 2010. All Rights Reserved.

3. ACTIVE
Active Residential Listings
RESIDENTIAL
20000 LISTINGS
18000 PORTLAND, OR
16000
This graph shows the active
14000
12000 residential listings over the
10000
8000
past three calendar years
6000 in the greater Portland,
4000
Oregon metropolitan area.
2008 2009 2010
TOTAL ACTIVE
Total Active Listings
LISTINGS
PORTLAND, OR 25000
22500
This graph shows the 20000
total active listings over 17500
15000
the past three calendar 12500
10000
years in the greater
7500
Portland, Oregon 5000
metropolitan area.
Total Active Listings 2008 Total Active Listings 2009 Total Active Listings 2010
NEW LISTINGS
New Listings
PORTLAND, OR
6,000 This graph shows the
5,000
new residential listings
4,000
over the past three
3,000
2,000
calendar years in the
1,000 greater Portland, Oregon
0 metropolitan area.
2008 2009 2010
3
© Copyright RMLS™ 2010. All Rights Reserved.

4. PENDING LISTINGS
Pending Sales
PORTLAND, OR
3,500
This graph represents
3,000 monthly accepted offers
2,500
in the Portland, Oregon
2,000
1,500 metropolitan area over
1,000 the past three calendar
500
years.
0
2008 2009 2010
CLOSED SALES
Closed Sales
PORTLAND, OR
This graph shows the 2,500
closed sales over the past 2,000
three calendar years in 1,500
the greater Portland, 1,000
Oregon metropolitan 500
area. 0
2008 2009 2010
Average Market Time DAYS ON MARKET
180
PORTLAND, OR
160 This graph shows the
140
120 average market time for
100
80 sales in the Portland,
60
40
Oregon metropolitan area.
20 *As of August 2008, graph
0
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.

5. AVERAGE SALE This graph represents the average sale price for all homes sold in the Portland,
PRICE Oregon metropolitan area.
PORTLAND, OR
Average Sale Price
$400,000
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000
Oct-00
Oct-01
Oct-02
Oct-03
Oct-04
Oct-05
Oct-06
Oct-07
Oct-08
Oct-09
Oct-10
Apr-01
Apr-02
Apr-03
Apr-04
Apr-05
Apr-06
Apr-07
Apr-08
Apr-09
Apr-10
Median Sale Price: Portland, OR & Clark Co., WA MEDIAN SALE
PRICE
260000
PORTLAND, OR
240000
This graph shows the
220000
200000
median sale price over
180000 the past 12 months in the
160000 greater Portland, Oregon
140000
metropolitan area and
120000
Clark County.
100000
OCT NOV DEC JAN FEB MAR APR MAY JUNE JULY AUG SEPT OCT
Clark County Metro Portland, OR
5
© Copyright RMLS™ 2010. All Rights Reserved.

6. MEDIAN SALE PRICE
October 2010 SW
WASHINGTON
$250,000 $214,300
Woodland N/NE Clark County
$215,200
PORTLAND $241,500 Battle Ground
Ridgefield/La Center
METRO $ 156,800
Columbia County
$201,000 $254,900
Salmon Creek Brush Prairie
$221,500 Hockinson
Felida
$180,000
$ 345,000 Hazel $165,000
Dell 5 Corners
Minnehaha Orch.
North Washington County
$158,000 $179,000
Sauvie Island
Cent. Vancouver Cascade Park
$192,200
Heights
$225,900
$240,000
N Portland
Camas/Washougal
$ 241,500
NE
$ 200,300 Portland
$ 316,800
Hillsboro West $ 190,500
$ 182,600 Gresham
Forest Grove Portland
$ 195,200 SE Troutdale
Portland Sandy
Beaverton
Corbett
Aloha $ 235,000 Fairview $ 170,000
Milwaukie/Gladstone/
Mt. Hood:
Boring/Clackamas
Zigzag
Estacada
$ 265,500 $ 383,000 Welches
Rhododendron
Tigard/Tualatin
Wemme
Sherwood Lake Oswego Brightwood
Wilsonville West Government Camp
Linn
$ 193,500
Yamhill County $ 238,000
Oregon City
Canby
Molalla
Beavercreek
6
© Copyright RMLS™ 2010. All Rights Reserved.

7. MULTIPLE LISTING SERVICE
MEDIAN SALE This graph represents the median sale price for all
Corporate
825 NE Multnomah, Suite 270 PRICE CONDOS condos sold in the last three calendar years in the
Portland, OR 97232
(503) 236-7657 PORTLAND, OR
Fax: (503) 230-0689 Portland, Oregon metropolitan area.
Southwest Washington
1514 Broadway, Suite 101
Vancouver, WA 98663 Median Condo Sale Price
(360) 696-0718
Fax: (360) 696-9342
$250,000
Salem
2110 Mission St. SE, Suite 305
Salem, OR 97302 $225,000
(503) 587-8810
Fax: (503) 585-3817
Lane County: Eugene $200,000
2139 Centennial Plaza
Eugene, OR 97401
$175,000
(541) 686-2885
Fax: (541) 484-3854
Lane County: Florence $150,000
PO Box 414
Florence, OR 97439
(541) 902-2560
Fax: (541) 902-1341
Douglas County 2008 2009 2010
3510 NE Edenbower
Roseburg, OR 97470
(541) 673-3571
Fax: (541) 673-6581 AFFORDABILITY This graph shows affordability for housing in the
Curry County
PO Box 6307 PORTLAND, OR Portland, Oregon metropolitan area in September 2010.
Brookings, OR 97415
(541) 469-0219
Fax: (541) 469-9695
Mid-Columbia
PO Box 1088
Affordability Index
Hood River, OR 97031
(541) 436-2956 180
Fax: (541) 387-6657 160
Eastern Oregon 140
PO Box 751
Hermiston, OR 97838 120
(541) 567-5186 100
Fax: (541) 289-7320
80
Coos County
1946 Sherman Ave., Suite 101 60
North Bend, OR 97459 40
(541) 751-1070
Fax: (541) 751-1083 20
0
Mar-07
Mar-08
Mar-09
Mar-10
Mar-04
Jun-04
Mar-05
Jun-05
Mar-06
Jun-06
Jun-07
Jun-08
Jun-09
Jun-10
Sep-03
Dec-03
Sep-04
Dec-04
Sep-05
Dec-05
Sep-06
Dec-06
Sep-07
Sep-08
Sep-09
Sep-10
Dec-07
Dec-08
Dec-09
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;
AFFORDABILITY - According to a formula from the National Association of REALTORS®, buying a house in the Portland
Lane, Douglas, Coos & Curry Counties in
metro area is affordable for a family earning the median income. A family earning the median income ($71,200 in 2010, per
Oregon; portions of other Oregon Counties;
HUD) can afford 155% of a monthly mortgage payment on a median priced home ($240,000 in September). The formula
and Clark, Cowlitz & Pacific Counties in
assumes that the buyer has a 20% down payment and a 30 year fixed rate of 4.35% (per Freddie Mac).
Washington.
RMLS™ was formed by area Boards and
Associations of REALTORS® in 1991.
Gary Whiting, Chairman of the Board
E-mail subscriptions are available for
$45 per year by contacting RMLS™, (503) Kurt von Wasmuth, President/CEO
236-7657. Reproduction of any portion of Kelsey Brunson, Editor
this copyrighted material is prohibited
without prior approval of RMLS™.
Danny Gottleib, Assistant Editor
© Copyright RMLS™ 2010. All Rights Reserved.