Archive for the ‘Daily Market Tracking’ Category

Scott’s October 2014 Portland Area Market Report by Area – UPDATED

Friday, November 14th, 2014

I have been tracking numbers for probably close to three years now and have gone through tons of changes in what I track and how I track it. Just this last year eliminating an emphasis on the distressed market as we are no longer in a heavily distressed market (though, I do still track distressed activity).

The biggest change however has come recently in starting to track all 13 individual RMLS “Areas” that make up the Portland Metro real estate market in addition to the overall Portland Metro market. This change has been a difficult one at best as I am often finding a need to fine tune things; then it must be fine tuned 14 times (13 markets plus the 1 overall Portland market).

As an example, in preparing this post I realized I was taking a daily “snapshot” of the previous week worth of sales activity to generate the portion of my reports that show:

  • Inventory in days
  • Average days on market for sold homes
  • Average price per square foot for solds
  • Average list price when sold
  • Average sale price
  • Average percent of list price paid

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What is the Current Average Home Sale Price in Your Area? Got it Right Here!

Friday, November 7th, 2014

In the last few months I’ve been switching up my real estate market tracking which previously only tracked the Portland metro and surrounding areas as a whole, lumping in Molalla with say N Portland, which shows the overall conditions in the Portland real estate market at large, but doesn’t get granular enough to help folks buying or selling a home in a given area.

That has now changed. I am now tracking, daily, each of the 13 individual RMLS markets in the Portland metro region. This still may not get granular enough for some, however being that these “areas” are defined by RMLS as “markets” it should help quite a bit.

So, home sale prices in a given area? Lets get on with it! These numbers represent all logged sales in the last week (from October 30th – November 6th):

RMLS Area 141 North Portland

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Portland Real Estate Market Update: Inventory Down, Distressed Homes Up

Friday, October 31st, 2014

Normally during this time of year we do see inventory shrinking and indeed this year is no different. Down from roughly 6,400 homes on the market back in late August to 5,640 as of today as this graph shows:

 

 

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Data Tracking Changes Incoming & Finally Adding Area & Price Tracking

Tuesday, August 26th, 2014

I’m going to be changing what is tracked from here on out and being that tracking these numbers takes a considerable amount of time, I can’t keep the old numbers going while also doing the new numbers; HOWEVER, I have also implemented area tracking and home price tracking (see the end of this post for tracking information going away, and tracking information being added).

This means, from here on out I’ll be tracking data for the entire Portland Metro and surrounding area markets, as well as each of the 13 RMLS areas that make up this market individually.

Here’s a breakdown of these areas:

  • 141 North Portland
  • 142 Northeast Portland
  • 143 Southeast Portland
  • 144 Gresham, Sandy, Troutdale, Corbett
  • 145 Milwaukie, Gladstone, Happy Valley, Clackamas, Damascus, Estacada
  • 146 Oregon City, Beavercreek, Canby, Molalla, Mulino
  • 147 Lake Oswego, West Linn
  • 148 West Portland, Raleigh Hills
  • 149 NW Washington County, Sauvie Island
  • 150 Beaverton, Aloha
  • 151 Tigard, Tualatin, Sherwood, Wilsonville
  • 152 Hillsboro, Forest Grove
  • 153 Mt Hood, Welches, Rhododendron, Wemme, Zigzag, Brightwood, Government Camp

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Slow week for closings in the Portland real estate market

Saturday, August 23rd, 2014

This one could just be a matter of other agents; a lof of them this week, not updating RMLS to show their home sales have closed and I won’t know for sure until I back check the numbers to pickup those missing entered sales next week.

However, with that said, we’ve been averaging around 90-100 closings per day for the last few weeks which has been gradually dipping during that time but this last week we’ve hit a new low to under 50 per day on average across the board:

 

 

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Portland Oregon homes for sale inventory increasing in all but two areas

Saturday, August 23rd, 2014

Checking market conditions today shows a definite trend in inventory climbing ever so slightly across the board in the Portland real estate market with the exception of two areas.

RMLS area 145, also known as Milwaukie, Gladstone, Clackamas & Happy Valley, has actually dipped a bit from 622 homes on the market just a few days ago to 617 currently. Additionally, area RMLS 149, NW Washington County and Sauvie Island, also saw a decrease from 305 homes on the market to 299.

Neither of these are significant by any means, however it could suggest an upcoming trend for these areas so I’ll be keeping an eye on it.

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Portland Oregon residential real estate market inventory remaining steady; for now

Wednesday, August 20th, 2014

Usually this time of year things start to slow up a bit and this August is no different. We’re seeing a dip across the board, however it’s a very light dip thus far.

Here’s the overall closed sales so far:

 

 

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RMLS June 2014 Market Action Report

Monday, July 28th, 2014

For the 3rd straight month in a row inventory in the Portland real estate market has been at 2.8 months, the lowest in 2014 (well, along with April & May of course) and the lowest since May 2013 which hit 2.5 months.

This is the June 2014 RMLS Portland Metro Area Market Action Report.

Other highlights from this report include a 4.2% increase in sales from the same month last year and the average sale price increasing a whopping 8.7% also from the same month last year; that’s huge!

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Gresham, Troutdale, Fairview & Wood Village; You’re up to Bat!

Tuesday, March 11th, 2014

Just finished the real estate market tracking report for Gresham, Fairview, Troutdale and Wood Village…This is again, only 10 days worth of data so not super reliable yet (give it a few weeks; trends and real usable data will show itself); with that said Gresham seems to be where only those looking for deals are buying as the average sale price in Gresham (and the mentioned towns in the Gresham area) are below the $200,000 mark:

 

 

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East & South Side Rural Real Estate Market Report

Tuesday, March 11th, 2014

I had a bit of difficulty with this one as it began it’s thus far short life as an east side only rural report (sorry west side rural folks, I won’t be doing a report for you) but there just wasn’t enough data, so I changed it up to include all east side AND south side rural. The towns included in this report are:

  • Aurora
  • Beavercreek
  • Boring
  • Canby
  • Colton
  • Damascus
  • Eagle Creek
  • Estacada
  • Hubbard
  • Molalla
  • Mt Angel
  • Mullino
  • Sandy
  • Scott’s Mills
  • Woodburn

Even with all of those towns, we’re still talking a few listings/solds etc per day at best…Of course were still coming out of the slow season, so come spring/summer the numbers here will pick up a bit, but there are enough now for trackable data.

Here’s a snippet of the report (not bad average sale prices for rural areas):

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Clackamas, Milwaukie, Oak Grove & Gladstone Real Estate Market Tracking Data Ready

Tuesday, March 11th, 2014

Here’s the report for the Clackamas, Milwaukie, Oak Grove & Gladstone area. Even though Happy Valley and portions of SE Portland are technically the same RMLS “areas” I am doing seperate reports for those, hence they are not included in this report; just FYI.

Here’s the Clackamas, Milwaukie, Oak Grove & Gladstone Market Report.

Your Realtor, Scott McDonald

Everything. Portland. Real Estate. Blog.

First New Real Estate Data Tracking Report is LIVE! Beaverton Market

Tuesday, March 11th, 2014

I’m going through these new tracking reports in alphabetical order, so the “Aloha, Beaverton & Hillsboro” one was the first completed.

I did attempt to go back to January 1 of this year, however, it would have taken me WEEKS, if not MONTHS to get all the reports updated, so I opted to start March 1 2014 with the reports so there is data in them now, just not a lot.

I’ll be posting each areas report as I complete them, so stay tuned for your areas report; for now, here’s some screen shots of the new Beaverton area one (and it’s also attached below, with some more information on these reports):

 

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Real Estate Tracking Data & Reports: BIG Changes Coming; Area Reports, Pricing & Days on Market in Tow

Friday, March 7th, 2014

I just wanted to get an FYI out to everyone that I am currently working on revamping the tracking report as I get a lot of requests for area specific reports (people asking for my tracking reports for Happy Valley, or Lake Oswego real estate reports etc).

Additionally short sales and foreclosures have been edging ever closer to market pricing these days, often no longer the “steal of a deal” they once were and there are a lot less of them now. So, with that said, I am *considering* ditching that portion of the tracking data in favor of adding new data points like:

  • Median Sale Price Tracking
  • Average Sale Price Tracking
  • Days on Market for Pending Sales
  • Average Price Per Square Foot Tracking
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Big Week for New Listings & Pending Sales in Portland Real Estate Market

Friday, March 7th, 2014

This week, not officially the first of spring, albeit we’ve had some spring like weather, has been a jumping week for the Portland real estate market.

Total number of homes continues to hover under 4,300 in total, however new listings are seeing a significant jump in the last week, continuing the previous weeks trend:

 

 

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February 2014 Portland Real Estate Market Month End Numbers

Monday, March 3rd, 2014

So we’re now officially into March and all of the February Portland real estate tracking numbers are in.

Most everything is up across the board, new listings are increasing, however the inventory is staying about the same because pending sales and closed sales are also increasing:

 

Of course at the end of February we had a very normal large spike in cancelled, withdrawn and expired listings…Again, completely normal for the last day of the month.

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Big Valentines Day Closing Spike and Pending Sales, On the Rise

Friday, February 21st, 2014

In tracking RMLS data daily I have to regularly look back several days, even up to a week or more for past closings / sold homes that were not entered into RMLS on the day they actually closed. I call it a lag time where a Realtor may close on a home on X day, but not update RMLS to show that closing until a few days later, sometime a week or more.

In looking back to just before Valentines day today to pickup those missed closed sales I found that on Valentines day there was a large spike of closings. Normally right now we’re seeing around 45-50 closings per day and my previously recorded number for Valentines Day was right in line with that, but when I picked up the lag numbers today, there were 140 closings on Valentines day; that’s HUGE single day number…Seems as though there were a lot of folks trying to ensure their significant other had a great Valentines Day present this year; keys to their new home.

Here’s the graph:

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National Real Estate Number Tracking Vs. Local

Friday, February 21st, 2014

In skimming through some articles in the real estate world today I came across one from the AP syndicated through Oregonlive.com titled “Portland home prices dip on slower December sales“, so of course being my market I need to check it out.

I didn’t find the slow December sales portion interesting as that’s par for the course this time of year (and apparently the Corelogic data used for the article, doesn’t take seasonal market shifts into consideration anyway), but I did find the numbers provided to be off…The AP / Corelogic data showed December home prices being up 15% from last year, where as RMLS, in their Market Action Report for December, showed 12.9% and the drop AP cites from November to December was 0.2%, but RMLS shows -3% average sale price compared to November and -1% median.

So who’s right?

Now, the numbers are still very similar, but it shows the differences you can end up with depending on how you are looking at a given market.  They just said the “Portland area”…Do they mean city of Portland only? Entire Metro? Do they, on a national level, consider Salem to be a part of that market? Are they looking at residential only as the RMLS Market Action Reports do, or are they looking at everything, residential, commercial etc?

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New Listings & Pending Sales In Portland Housing Market Continue to Drop Off

Monday, February 17th, 2014

Happy Presidents Day everyone!

Taking a look at the daily numbers for today we’re still seeing a measurable, albeit expected drop off in pending sales and new listings. Pending sales which were averaging around 55 a day are now barely averaging around 40 per day:

 

 

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New Listings and Pending Sales Down, New Construction Listings Up

Thursday, February 13th, 2014

Looking at today’s numbers from my daily RMLS tracking the total number of residential listings in the Portland market is still holding tight just below 4,200 (4,184 as of today) however new listings coming onto the market is indeed slipping this week with the market dropping from an average of around 80 new listings a day to now more around 70 new listings per day:

 

 

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New Construction Sales Trending Higher in Total Sales Volume in Portland Real Estate Market

Wednesday, February 12th, 2014

We’ve been seeing an increase in the percent of new construction sales as they pertain to total closed volume in the Portland market, however this appears to be more of a situation where new construction sales are remaining flat and resale (existing home sales) are declining, as you can see from the charts below:

 

 

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New Listings Slipping Slightly Coming into Mid-February

Monday, February 10th, 2014

Looking at the daily market tracking for the Portland real estate market I’m seeing a bit of a dip in new listings coming onto the market for the past week. Yesterday for example there were 23 and on the 8th just 19 compared to the average of over 70 homes per day being listed; here’s that graph:

 

 

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Big Day for Portland Foreclosures Yesterday; Err, or Not…The Practice of “Re-listing”

Wednesday, February 5th, 2014

Bank owned (AKA REO’s) had a big day in the Portland real estate market yesterday accounting for 25% of all properties listed with 20 new REO listings (79 total listings including all foreclosures, short sales, new construction and re-sale).

That’s a huge bump up from what has been an average through January (and most months for that matter) of around 5 a day as well as 5% of all new listings on average; here’s the graph:

 

 

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New Home Listings and Pending Sales Down For Portland

Friday, January 31st, 2014

In the last week we’re seeing a decline in new listings and pending sales in the Portland real estate market; both are gradual slips with a difference of only a handful per day, however the average is slipping.

Here’s the current graph for January for new listings:

 

 

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Portland Real Estate Market – Numbers Tracking Update

Wednesday, January 29th, 2014

This time of year in the Portland real estate market its typical to see a bit of a slump across the board; when it’s cold and rainy out folks just aren’t into the idea of shopping for a home. Adding to this, sellers know buyers are in short supply as well and even so, the buyers that would come through could have wet/muddy feet walking all over their floors they’re not quite as eager to be on the market during this time; so yes, it’s a bit on the slow side this time of year in most years.

This is exactly what we’re seeing in the daily tracking information for today. The total number of residential listings is flat from yesterday still pushing just barely over the 4,000 homes mark with 4,186 homes currently on the market with new home listings gently sliding off for the month. In the last two days new listing activity has been slightly up for the month, however helping to cause the numbers to slide was this last weekend which like past January weekends produced low new listing numbers.

Closings last week were almost a wash from the previous week running around 40 per day on average; just about exactly where they’ve been all month.

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Current Market Conditions – January 22nd 2014

Wednesday, January 22nd, 2014

Currently the market is flat in terms of new listings with 59 Portland metro area homes listed for sale yesterday the 21st, however pending home sales is moving in the upward direction from an average of around 40 homes per day going pending to around 60 pending per day on average now:

 

 

 

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