Archive for the ‘Market Reports’ 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


RMLS Portland Metro Market Action Report for October 2014

Friday, November 14th, 2014

The RMLS Market Action Report for October 2014 just came out and with it some, well; expected numbers.

First off, inventory dropped a bit from 3.1 months worth of inventory in September to just 2.8 months of inventory. This is a normal figure for this time of year with the last two years also dropping at the same time, from 3.7 to 3.4 in 2013 and from 4.6 to 3.8 in 2012.



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


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:




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:




RMLS Market Action Report for July 2014

Friday, August 15th, 2014

It’s that time of the month again; the RMLS Market Action Reports are out for July 2014. I generally focus on the Portland Metro report as that’s the market I operate in, however if you want the report for other areas please feel free to shoot me an email and I’ll get it to you.

For July inventory slipped slightly from 2.8 months of inventory at current buying activity to 2.9 months, just about a negligible change. The average sale price however has increased slightly from $334,800 in June to $344,700 in July; or roughly 2.85%. From the same period in 2013 however it’s jumped 7.9% ($326,500 in July 2013).

We are likely to see the inventory levels rise however as A) It’s normal for this time of year moving forward and B) at 3,954 new listings for July 2014 that’s 2% more than July 2013 which is actually a 3% drop from 4,078 new listings in June of this year. Of course with all of this said we saw an increase in pending sales (accepted offers) in July 2014 compared to July 2013 (2.3% better) but a drop from June 2014 of 5.5%. Last but not least, following suit with the drop/increase trend are closed sales increasing 2.3% from last July and dropping 3.2% from June 2014.


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:




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):


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):



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
  • (more…)

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:




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.


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:


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 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?


RMLS Portland Market Action Report for January 2014

Monday, February 17th, 2014

The January 2014 RMLS Market Action Report for the Portland Metro & Surrounding areas is out and is showing yet again the Portland real estate market has become a much more healthy and stable market. This positive outlook was market wide for the Portland area, officially, when almost a year ago back in April of 2013, NW Washington County was the last Portland Metro RMLS area to leave depreciating numbers behind; hopefully for good!

Inventory just about always slips in January (that is, it rises) and this year is no different with inventory going from 3.2 months in December 2013 to 4.1 months in January 2014 and when you look at current pending sales you can see that inventory could slip again in February.


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:




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:




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:




Significant Drop in RMLS Data for 2013 Distressed Sales As A Total of All Sales

Monday, February 10th, 2014

Hot off the RMLS Blog is a report showing some of the statistics for distressed properties in the RMLS market for 2013 compared to the same data from 2012 and the one that caught my attention right off the bat was the percent of total sales.

In 2012 for “All [RMLS] Areas” distressed properties accounted for 28.6% of the market, in 2013 that number was almost half of that (thanks Clark county for the “almost”) at 15.1%.

For the Portland Metro market we hit BELOW half, 2012 was 28.2%, 2013 was 13.2%.


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:




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:




Widespread Growth Expected for 2014; Some Thoughts on the Current Portland Real Estate Market

Monday, February 3rd, 2014

RealtorMag from (National Association of Realtors) expects to see a good 2014 across the board in the U.S.

In many cities around the country even ones with a 5.2% decrease in economic growth in 2013 (Shreveport LA) are expecting a 1.6% growth rate for 2014. Other areas around the country are in the same situation in terms of their expected growth; that is 1-2% however even that in the market(s) we’ve been seeing recently is a fantastic sign of the current turnaround we’re in.

Here in the Portland market we’ve been not just in recovery, but strong recovery, since early-mid 2012 with multiple offers becoming the norm for a home priced at market value. In recent years I almost never called a listing agent before showing a home to see if there were offers already on the table (didn’t need to, there almost never were); now I’m having to do that with most homes I’m showing and I’m finding around half of them DO have offers on them when I call. In addition when I see a home was just listed a few days ago, that’s become a red flag to call the agent to check on the current offer status.

We’re now in a completely different market and I’ve actually on occasion thought of it as another bubble. Now, don’t let that panic you. In my opinion, we are in a bit of a bubble in the Portland market but it seems to be a buying/activity bubble not a home value bubble (the latter of which would be a problem). Buyers are just ready to go and they are moving, but I’m not seeing that increasing home values outside of any norms (currently around 5% for the entire Portland metro area); they are also ignoring overpriced homes completely but jumping on market priced homes; fast!


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:




Nationally Foreclosures at Their Lowest Level Since 2007

Wednesday, January 29th, 2014

CNN Money posted up an article recently showing the lowest level of foreclosures since 2007; great news for a market still trying to find it’s feet! Foreclosures were down 26% from 2012 alone; another outstanding stat.

At the top of the foreclosure filing nightmare foreclosures affected 2.23% of all homes, while in a “normal” pre-bubble burst market is normally less than 1% and right now, nationally, we’re seeing 1.04% so we’re still up from normal, but way down from the distressed market we’ve been in for the last 6-7 years.

As a Realtor in the Portland market I can attest to the low number of foreclosures currently available. Just a few short years ago a massive percentage of my business consisted of foreclosures and the dreaded (and I do mean dreaded in regards to short sales) short sales; now it’s become pretty rare to work with either of them. Thing is, one would think after a few years of lots of short sales that they would become easier to work with; that hasn’t been the case in my experience; they seem to have become even more difficult (from a buyers perspective anyway). Previously they could be closed with relative ease (and lots of nagging) but these days seems the few I deal with go no where, and fast. With that said, I’m very happy to see the reduction.

And don’t forget, if you are interested in foreclosures I still track and post them every day on the site and in the blog; get your daily Portland Foreclosure list now!