Portland Real Estate Market Statistics — December 2011

Real estate sales activity continued its upward trend for the third straight month, as over 1,600 homes closed escrow in the Portland area in December. The strongest December in a few years, combined with a dearth of new listings, led to the market’s lowest total inventory since June 2006. January buyers were met with only 8,612 homes on the market. The past few years have seen closer to 12,000 units available at year end. At the current pace of sales, the remaining inventory would be exhausted in 5.3 months.

“Wait!” you say. “Doesn’t 5 or 6 months of inventory signal a seller’s market?” you ask. Yeah, that’s the weird dichotomy the market presents. Over a third of transactions are distress sales and prices are still declining (albeit at a slower rate). Yet, in close-in neighborhoods or in well-kept properties that are priced reasonably, you can count on quick sales and sometimes, multiple offers. Four of the 6 homes I showed last Saturday were sale-pending by Tuesday morning.

Month-to-month average and median sale prices are bouncing somewhat, but for the year vs. 2010, the market was down 6.7% on average and 7.9% at the median. I will share 2011 end-of-year stats later this week.

Here are the figures for December:

Market Summary

December 2011 Prev. Month -
November 2011
Last Year -
December 2010
Median Sale Price $216,000 $225,000 $230,000
Average Sale Price $260,800 $259,400 $278,000
Closed Sales 1,612 1,521 1,462
Pending Sales 1,443 1,685 1,210
New Listings 1,700 2,026 1,925
Active Listings 8,612 9,451 11,611
Distress Sales 35% 31% 37%
Total Market Time * 142 135 145 days
Inventory (in months) 5.3 6.2 7.9

Below is activity by market area. Please note that median and average sale prices are year-to-date. The appreciation numbers are a 12-month average compared to the previous 12-month average. Total market time is the number of days between the date it went on the market and when it received an acceptable offer.

Market Report by Area

Area YTD Avg.
Sale Price
YTD Median
Sale Price
12-Mo. Change Total Mkt
Time*
Lake Oswego / West Linn $428,500 $370,000 -1.4% 166
West Portland & Downtown $384,800 $324,200 -6.2% 165
NW Washington County $358,100 $325,000 -1.7% 115
Tigard / Tualatin / Sherwood / Wilsonville $278,000 $254,000 -8.7% 164
Northeast Portland $266,900 $229,000 -5.8% 139
Milwaukie / Clackamas $240,000 $220,000 -7.8% 141
Oregon City / Canby $233,400 $211,100 -8.0% 156
North Portland $222,200 $212,000 -3.6% 90
Southeast Portland $214,700 $181,500 -9.7% 112
Beaverton / Aloha $213,000 $195,000 -9.7% 116
Hillsboro / Forest Grove $206,300 $189,500 -9.2% 149
Yamhill County $198,800 $173,100 -10.1% 180
Gresham / Troutdale $195,700 $178,000 -8.4% 147
Columbia County $159,400 $145,500 -11.9% 150

Portland Real Estate Market Statistics – November 2011

The year end draws near and the Portland residential real estate market will end 2011 on a stronger note than 2010 — at least when measured by sales volume. Sales in November 2011 were 19% above last year’s pace and were actually 3% higher than October’s result.

However, available inventory, at just 9,451 units is at the lowest level since the summer of 2006. At the current pace of sales, the market would exhaust supply in 6.2 months. Nearly a third of homes sold in November could be described as ‘distress’ sales — either a short sale or bank-owned foreclosure.

Prices are slightly softer than a year ago, down about 4.6% on average and 3.4% for the median. The average home sale in November was $259,400. That is 27% off peak prices from the summer of 2008.

On that note, below is the grisly 11-year view of median home prices and various rates of appreciation since 2000. After some stabilization in 2009 and a sharp decline in late 2010, 2011 showed some signs of recovery despite some seasonal choppiness at the end.

10-Year Median Sales Price chart for Portland

Click for larger view

Here is a closer look at 2010 and 2011.

2-Year Median Sale Price Chart in Portland

Click for larger view

Here are the tables for November:

Market Summary

November 2011 Prev. Month -
October 2011
Last Year -
November 2010
Median Sale Price $225,000 $217,800 $233,000
Average Sale Price $259,400 $258,700 $271,900
Closed Sales 1,521 1,474 1,279
Pending Sales 1,685 1,878 1,429
New Listings 2,026 2,433 2,473
Active Listings 9,451 10,012 13,103
Distress Sales 31% 30% 32%
Total Market Time * 135 136 140 days
Inventory (in months) 6.2 6.8 10.2

Below is activity by market area. Please note that median and average sale prices are year-to-date. The appreciation numbers are a 12-month average compared to the previous 12-month average. Total market time is the number of days between the date it went on the market and when it received an acceptable offer.

Market Report by Area

Area YTD Avg.
Sale Price
YTD Median
Sale Price
12-Mo. Change Total Mkt
Time*
Lake Oswego / West Linn $425,500 $369,900 -3.3% 179
West Portland & Downtown $386,100 $325,000 -4.1% 131
NW Washington County $356,300 $320,000 -3.7% 133
Tigard / Tualatin / Sherwood / Wilsonville $280,000 $257,500 -7.7% 139
Northeast Portland $267,900 $230,000 -5.2% 108
Milwaukie / Clackamas $239,400 $219,800 -9.9% 130
Oregon City / Canby $232,900 $211,000 -10.3% 132
North Portland $221,600 $212,000 -4.4% 110
Southeast Portland $215,500 $182,800 -9.5% 124
Beaverton / Aloha $213,100 $195,000 -11.6% 131
Hillsboro / Forest Grove $207,000 $190,000 -9.2% 141
Yamhill County $198,900 $174,500 -7.4% 183
Gresham / Troutdale $196,200 $178,000 -8.1% 135
Columbia County $159,600 $146,500 -11.0% 168

Portland Real Estate Activity & Statistics – October 2011

The Portland real estate market begins its annual hibernation, with activity subsiding and prices taking a nap as well.

Compared to September, closed sales dropped 7%, the median price dipped 6.7% and the average slumped by 6.5%. The average sale price in October was $258,700 and the midpoint weighed in at $217,800 — the lowest levels since the market thawed in early 2011.

Nearly a third of closed sales were short sales or bank-owned foreclosures. November closings should be on par with October, however, with a slight rise in pending sales over October’s totals. The average time on market is around 4.5 months.

On a year-to-date basis, closed sales are up 2.1% and pending sales up 4.5% over 2010. However, new listings are off 26.3% from last year. Active inventory is the lowest since February 2007, starving motivated buyers for choices. Starting November, less than seven months’ inventory exists, around 10,000 homes.

Market Summary

October 2011 Prev. Month -
September 2011
Last Year -
October 2010
Median Sale Price $217,800 $230,800 $233,500
Average Sale Price $258,700 $268,200 $276,800
Closed Sales 1,474 1,586 1,292
Pending Sales 1,878 1,861 1,632
New Listings 2,433 2,501 3,119
Active Listings 10,012 10,666 13,805
Distress Sales 30% 26% 33%
Total Market Time * 136 131 131 days
Inventory (in months) 6.8 6.7 10.7

Below is activity by market area on year-to-date basis.

Market Report by Area

Area YTD Avg.
Sale Price
YTD Median
Sale Price
12-Mo. Change Total Mkt
Time*
Lake Oswego / West Linn $429,100 $370,000 -3.4% 135
West Portland & Downtown $388,700 $328,400 -3.4% 149
NW Washington County $357,300 $321,000 -3.0% 86
Tigard / Tualatin / Sherwood / Wilsonville $279,400 $258,500 -6.9% 138
Northeast Portland $267,300 $229,000 -5.4% 111
Milwaukie / Clackamas $239,500 $219,100 -10.5% 118
Oregon City / Canby $232,400 $210,000 -11.4% 214
North Portland $219,900 $209,500 -6.0% 122
Southeast Portland $214,000 $180,600 -8.5% 135
Beaverton / Aloha $212,800 $194,900 -12.1% 119
Hillsboro / Forest Grove $207,600 $190,000 -8.8% 135
Yamhill County $199,600 $174,800 -6.4% 184
Gresham / Troutdale $195,800 $178,000 -8.2% 122
Columbia County $161,100 $150,000 -12.4% 174

Please note that median and average sale prices are year-to-date. The appreciation numbers are a 12-month average compared to the previous 12-month average. Total market time is the number of days between the date it went on the market and when it received an acceptable offer.

Portland Rental Market Gets Tight

While the homes sales market is stuck in a low gear, the Portland rental market has been in overdrive, with rents rising and vacancies shrinking.

A recent article in Portland’s local daily newspaper highlights the increased demand for apartment rentals, as well as the rising rent rolls. According to local property managers, average rents in the Portland area have risen 8% in the past year. The average 2-bedroom, 1-bath apartment in the Portland metro area runs $743 a month, although there is a wide range of pricing from area to area (see chart below).

While most property managers plan on an 8% vacancy rate (average 1 month per year), recent vacancies are below 4% (even lower in the city core). And because new apartment development slowed during the recent housing downturn, new inventory will be slim until developers find the wherewithal to build again — meaning rents aren’t going down anytime soon.

Are these reasons to consider a purchase instead? Not if your job situation is tenuous, or you’re new to the area, or the responsibilities of owning aren’t your thing. But at some point, the trade-offs may be worth a second look.

Portland Apartment Rental Market

Data source: Metro Multifamily Housing Association, via The Oregonian Business section. Full coverage at Oregonlive.com.

Portland Real Estate Activity & Statistics – September 2011

Portland’s real estate market continues to show steady…um….steadiness in September 2011 results.

Home sales slowed in September–a normal, seasonal pattern to be sure, however the level was nearly 200 units higher than in September 2010. Year-to-date, 2011′s total homes sales are slightly ahead of the pace set in 2010.

Inventory levels continue to stymie buyers as available listings are at the lowest levels since March 2007, when homes lasted all of 10 nanoseconds on the market. The 10,666 listings available at the end of September would last 6.7 months at the current pace of sales. New listings for the month (2,501) are down 30% compared to September 2010.

The median sale price across the market has been steadily creeping upward since its low in February, recovering to late 2010 levels. And although the median sale price has perked up, the average sale price tailed off slightly, suggesting that properties in the higher price ranges suffered some declines during the month.

Records show a decline in the percentage of homes sold in a distress situation. The early part of the year saw 35 to 40% of total homes sold in a short sale or bank-owned foreclosure, but that rate has steadily fallen now below 30%, giving credence to the rumors that banks may be holding back some inventory.

Market Summary

September 2011 Prev. Month -
August 2011
Last Year -
September 2010
Median Sale Price $230,800 $225,000 $240,000
Average Sale Price $268,200 $271,800 $279,900
Closed Sales 1,586 1,805 1,399
Pending Sales 1,861 2,187 1,584
New Listings 2,501 2,879 3,549
Active Listings 10,666 11,276 14,714
Distress Sales 26% 27% 32%
Total Market Time * 131 134 days 131 days
Inventory (in months) 6.7 6.2 10.5

Below is activity by market area. Please note that median and average sale prices are year-to-date. The appreciation numbers are a 12-month average compared to the previous 12-month average. Total market time is the number of days between the date it went on the market and when it received an acceptable offer.

Market Report by Area

Area YTD Avg.
Sale Price
YTD Median
Sale Price
12-Mo. Change Total Mkt
Time*
Lake Oswego / West Linn $431,200 $372,000 -3.7% 166
West Portland & Downtown $392,100 $330,000 -2.2% 151
NW Washington County $362,000 $322,500 -1.3% 91
Tigard / Tualatin / Sherwood / Wilsonville $277,600 $256,000 -7.2% 174
Northeast Portland $267,800 $229,000 -5.5% 99
Milwaukie / Clackamas $238,100 $219,000 -10.9% 116
Oregon City / Canby $232,000 $210,000 -11.5% 123
North Portland $221,400 $209,500 -4.5% 133
Southeast Portland $214,400 $182,000 -8.1% 98
Beaverton / Aloha $212,200 $194,000 -13.0% 106
Hillsboro / Forest Grove $208,300 $191,000 -8.8% 143
Yamhill County $199,400 $174,800 -6.0% 159
Gresham / Troutdale $195,100 $178,000 -8.1% 157
Columbia County $160,800 $149,500 -13.0% 201

Portland Real Estate Activity – August 2011

No earth shattering news to report on the August 2011 Portland real estate market results. Seasonal sales volume and pricing dynamics are in line with recent trending. Home sales prices softened month-over-month from July and were down 9 to 10% from a year ago.

Virtually the same number of homes have sold across the Portland area January through August in both 2010 and 2011. Given there were no artificial government tax incentives this year, that’s probably a good thing. Home sales figures have been more consistent in 2011 — no real spikes in activity, unlike 2010.

The dearth of new listings and the steady flow of closed sales has left the market with just 6.2 months of available inventory. If the supposed ‘shadow inventory’ of properties held back by lenders due to MERS confusion or other factors is unleashed, be prepared for additional price reductions.

In other (obvious) news, mortgage interest rates are ridiculously low. If you haven’t refinanced or are wondering what kind of buying power these low rates will get you, let me know and I’ll refer you to some great brokers and bankers for some advice.

Market Summary

August 2011 Prev. Month -
July 2011
Last Year -
August 2010
Median Sale Price $225,000 $227,200 $250,000
Average Sale Price $271,800 $275,100 $299,300
Closed Sales 1,805 1,709 1,381
Pending Sales 2,187 1,928 1,688
New Listings 2,879 2,942 3,829
Active Listings 11,276 11,970 15,200
Distress Sales 27% 28% 30%
Total Market Time * 134 days 132 days 126 days
Inventory (in months) 6.2 7.0 11.0

Below is activity by market area. Please note that median and average sale prices are year-to-date. The appreciation numbers are a 12-month average compared to the previous 12-month average. Total market time is the number of days between the date it went on the market and when it received an acceptable offer.

Market Report by Area

Area YTD Avg.
Sale Price
YTD Median
Sale Price
12-Mo. Change Total Mkt
Time*
Lake Oswego / West Linn $427,100 $370,000 -6.7% 167
West Portland & Downtown $390,300 $329,900 -2.5% 131
NW Washington County $363,100 $320,000 -2.2% 95
Tigard / Tualatin / Sherwood / Wilsonville $277,800 $258,800 -5.9% 171
Northeast Portland $270,300 $229,700 -4.4% 105
Milwaukie / Clackamas $239,300 $218,900 -10.8% 138
Oregon City / Canby $230,900 $210,000 -12.0% 135
North Portland $221,100 $206,500 -4.7% 93
Southeast Portland $213,900 $180,500 -7.2% 110
Beaverton / Aloha $209,600 $190,000 -12.5% 141
Hillsboro / Forest Grove $205,700 $190,500 -9.5% 118
Gresham / Troutdale $195,400 $177,000 -7.4% 140
Yamhill County $194,100 $172,500 -7.1% 179
Columbia County $160,800 $149,500 -12.3% 137

Portland Real Estate Market Activity – July 2011

The Portland metro area real estate review for July is a little more ‘same ol’ song and dance’. In other words, like many months, it’s been slow but steady.

After hitting its peak in June at 1,958 units, July’s home sales tailed off to 1,709. Another 1,928 homes went sale pending and nearly 3,000 homes entered the market, leaving the available inventory of nearly 12,000 homes or about 7 month’s supply.

The median price, now at $227,000, is steadily climbing from it’s February 6-year low of $214,000. On a year-over-year basis, the median price is down 7.6% over 2010′s mark. The average sale price, $275,100, is down 7.4% over last year. I view it as a plateau….a flat spot that could be the basis for a slow recovery, or a rest stop on the descent.

Sales volumes are down, historically speaking. On a 2011 year-to-date basis, the market sold 4% fewer units than the January through July period 2010, though some of that 2010 volume was fueled by the tax credit program that ended in the spring.

Market Summary

July 2011 Prev. Month -
June 2011
Last Year -
July 2010
Median Sale Price $227,200 $222,900 $246,000
Average Sale Price $275,100 $267,100 $297,000
Closed Sales 1,709 1,958 1,412
Pending Sales 1,928 2,011 1,629
New Listings 2,942 3,143 4,029
Active Listings 11,970 11,817 15,271
Distress Sales 28% 34% 31%
Total Market Time * 132 days 134 days 121 days
Inventory (in months) 7.0 6.0 10.8

Below is activity by market area. Please note that median and average sale prices are year-to-date. The appreciation numbers are a 12-month average compared to the previous 12-month average. Total market time is the number of days between the date it went on the market and when it received an acceptable offer.

Market Report by Area

Area YTD Avg.
Sale Price
YTD Median
Sale Price
12-Mo. Change Total Mkt
Time*
Lake Oswego / West Linn $423,500 $371,800 -9.1% 149
West Portland & Downtown $389,900 $329,900 -1.3% 161
NW Washington County $362,000 $320,000 -0.7% 112
Tigard / Tualatin / Sherwood / Wilsonville $278,700 $258,900 -6.0% 146
Northeast Portland $268,400 $225,000 -3.7% 109
Milwaukie / Clackamas $237,800 $219,800 -10.1% 97
Oregon City / Canby $229,300 $208,500 -9.6% 82
North Portland $217,300 $205,000 -6.0% 98
Southeast Portland $211,400 $178,800 -6.6% 102
Beaverton / Aloha $208,000 $190,000 -11.2% 135
Hillsboro / Forest Grove $204,200 $190,000 -10.8% 136
Gresham / Troutdale $194,700 $175,000 -7.4% 170
Yamhill County $193,900 $172,300 -6.7% 188
Columbia County $160,900 $145,000 -12.7 142

Portland Real Estate Market Report – June 2011

Portland’s real estate is hitting a modest peak in June and July, with results featuring low inventories and steady sales volume.

Just under 2,000 homes changed hands in June–34% of those were short sales or bank-owned foreclosures. Another 2,000 or so went sale pending during the month, so expect July closed sales figures to be similar to June’s.

Home sellers continue to be reluctant to list properties, with only ~3,100 listings coming on the market and a little under 12,000 units available. It translates to an absorption rate of 6 months–the lowest since the go-go days of July 2007. It’s still taking a little over 3 months on average for homes to receive an acceptable offer and become sale-pending. Anecdotally speaking, primo properties in appealing neighborhoods are experiencing short shelf-lives and multiple offers, while threadbare or distress properties typically languish.

With low inventories (despite ~30% in distress or near distress), you would expect some stability in pricing and that appears to be the case. Although the average and median prices are down 7 to 8% from a year ago, they have recovered modestly from their February 2011 lows. The average sale price across the Portland metro area was $267,100; the median registered at $222,900.

More specific market areas are shown in the table below. If you are wondering about prices, sales activity, or general market conditions for your specific neighborhood, be sure to ask.

Market Summary

June 2011 Last Month -
May 2011
Last Year -
June 2010
Median Sale Price $222,900 $220,000 $239,900
Average Sale Price $267,100 $262,400 $275,500
Closed Sales 1,958 1,742 2,050
Pending Sales 2,011 2,167 1,493
New Listings 3,143 3,348 3,482
Active Listings 11,817 11,825 14,372
Distress Sales 34% 38% 28%
Total Market Time * 134 days 145 days 123 days
Inventory (in months) 6.0 6.8 7.0

Below is activity by market area. Please note that median and average sale prices are year-to-date. The appreciation numbers are a 12-month average compared to the previous 12-month average. Total market time is the number of days between the date it went on the market and when it received an acceptable offer.

Market Report by Area

Area YTD Avg.
Sale Price
YTD Median
Sale Price
12-Mo. Change Total Mkt
Time*
Lake Oswego / West Linn $411,700 $361,000 -10.1% 193
West Portland & Downtown $389,500 $329,900 -0.7% 159
NW Washington County $343,200 $315,000 -3.1% 89
Tigard / Tualatin / Sherwood / Wilsonville $279,400 $259,900 -5.1% 130
Northeast Portland $268,500 $223,500 -2.4% 116
Milwaukie / Clackamas $237,700 $220,700 -9.9% 127
Oregon City / Canby $223,300 $205,000 -10.2% 183
North Portland $210,800 $199,700 -7.3% 123
Southeast Portland $209,200 $176,300 -6.4% 107
Beaverton / Aloha $206,100 $190,000 -8.8% 106
Hillsboro / Forest Grove $202,600 $186,900 -10.7% 124
Gresham / Troutdale $194,100 $174,900 -7.7% 135
Yamhill County $192,300 $170,000 -5.7% 206
Columbia County $161,700 $145,000 -11.4% 161

Portland Real Estate Market Report – May 2011

Reluctant home sellers and picky home buyers make up the new normal in Portland’s real estate market.

May’s results show a shrinking inventory (down to 11,825 units or 6.8 months), not so much because they’re being snapped up at a high pace, but because new listing volume is low.

Prices are fluttering — the average is down slightly from April, the median is slightly up. Year-over-year, prices are down ~5% and ~8% for the average and median. The outer edges of the Portland metro area are still seeing the highest 12-month average price declines (double digits in West Linn, Lake Oswego, Hillsboro and Oregon City). The bad news for new home buyers wanting close-in neighborhoods: prices are holding pretty steady, and if the home really stands out, be prepared to compete with multiple offers.

Unit sales are still historically soft, with just 1,742 homes and condos selling in May. We would typically see well over 2,000 sales as the peak season gained momentum. Of those, 38% were distress properties, defined as either a short sale or bank foreclosure property.

Market Summary

May 2011 Last Month -
April 2011
Last Year -
May 2010
Median Sale Price $220,000 $219,900 $239,900
Average Sale Price $262,400 $267,300 $275,500
Closed Sales 1,742 1,611 2,050
Pending Sales 2,167 2,005 1,493
New Listings 3,348 3,099 3,482
Active Listings 11,825 11,621 14,372
Distress Sales 38% 37% 24%
Total Market Time * 145 days 153 days 123 days
Inventory (in months) 6.8 7.2 7.0

Below is activity by market area. Please note that median and average sale prices are year-to-date. The appreciation numbers are a 12-month average compared to the previous 12-month average. Total market time is the number of days between the date it went on the market and when it received an acceptable offer.

Market Report by Area

Area YTD Avg.
Sale Price
YTD Median
Sale Price
12-Mo. Change Total Mkt
Time*
Lake Oswego / West Linn $401,600 $355,000 -11.5% 147
West Portland & Downtown $385,500 $329,900 -0.7% 196
NW Washington County $345,500 $315,000 -1.5% 110
Tigard / Tualatin / Sherwood / Wilsonville $277,700 $258,900 -5.1% 137
Northeast Portland $271,100 $228,000 -0.9% 107
Milwaukie / Clackamas $237,700 $218,700 -8.6% 147
Oregon City / Canby $224,000 $209,900 -11.7% 178
North Portland $212,600 $205,000 -6.5% 108
Southeast Portland $207,200 $172,000 -5.3% 116
Beaverton / Aloha $204,800 $189,000 -6.5% 143
Hillsboro / Forest Grove $198,600 $183,800 -10.7% 148
Gresham / Troutdale $194,900 $171,000 -6.9% 172
Yamhill County $181,800 $165,000 -5.6% 140
Columbia County $164,100 $149,900 -11.3% 202

Portland Real Estate Market Report – April 2011

The spring seasonal lift in real estate activity is underway…..

Oh, wait. No it isn’t.

For the first couple months of 2011, the Portland real estate market mirrored the performance of 2010. Tax credits fueled a mini-bubble last spring that peaked at 2,050 units sold in May, but this year closed sales have leveled off around 1,600. (The ten-year average for closed sales in April is nearly 2,200.) With 2,000 pending sales in April, May 2011 would appear to be on pace to close 1,600 – 1,800 units.

On the bright side (for home sellers), prices have rebounded slightly from their February low point. Average sale prices across the Portland metro area were $267,000 (vs. $244,500 in Feb.) and the median came in at $219,000 (up from $213,700). Despite a two-month recovery, the average price is down 10.5% from one year ago.

Available inventory is virtually flat from last month, with just 11,621 units or 7.2 months supply on hand. Of closed sales, 37% were in the form of short sales or bank foreclosures.

Close-in Portland neighborhoods have held their value better than their suburban counterparts. Lake Oswego, West Linn, Hillsboro, and Oregon City have seen double-digit percentage average price depreciation over the past year. These areas may be where the bargain hunting is the best.

Market Summary

April 2011 Last Month -
March 2011
Last Year -
April 2010
Median Sale Price $219,900 $215,000 $240,000
Average Sale Price $267,300 $261,100 $282,100
Closed Sales 1,611 1,615 1,941
Pending Sales 2,005 2,012 2,991
New Listings 3,099 3,056 4,713
Active Listings 11,621 11,458 14,182
Distress Sales 37% 42% 31%
Total Market Time * 153 days 161 days 127 days
Inventory (in months) 7.2 7.1 7.3

Below is activity by market area. Please note that median and average sale prices are year-to-date. The appreciation numbers are a 12-month average compared to the previous 12-month average. Total market time is the number of days between the date it went on the market and when it received an acceptable offer.

Market Report by Area

Area YTD Avg.
Sale Price
YTD Median
Sale Price
12-Mo. Change Total Mkt
Time*
Lake Oswego / West Linn $399,400 $350,000 -12.7% 198
West Portland & Downtown $388,100 $332,800 -1.5% 156
NW Washington County $342,900 $308,900 -1.8% 123
Tigard / Tualatin / Sherwood / Wilsonville $274,400 $253,000 -5.5% 167
Northeast Portland $266,900 $218,500 -0.3% 160
Milwaukie / Clackamas $240,000 $218,900 -7.6% 179
Oregon City / Canby $218,500 $205,100 -10.6% 183
North Portland $207,700 $195,600 -5.6% 143
Southeast Portland $206,200 $170,900 -4.0% 129
Beaverton / Aloha $205,300 $188,000 -6.2% 151
Hillsboro / Forest Grove $199,600 $184,500 -11.0% 125
Gresham / Troutdale $198,200 $172,500 -5.9% 127
Yamhill County $178,800 $165,000 -6.2% 155
Columbia County $162,300 $150,000 -10.3% 184

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