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A Publication of RMLS, The Source for Real Estate Statistics in Your Community
Residential Review: Metro Portland, Oregon
May Residential Highlights
While closed sales were down in
May 2011 compared with May 2010,
pending sales greatly increased
compared with the same month
a year ago, and inventory hit the
lowest level since October 2009.
Closed sales were down 15% in
May 2011 compared to May 2010.
Pending sales were up 45.1%, and
new listings dropped 4.1%. See
residential highlights table below.
Comparing April 2011 with May
2011, closed sales increased from
1,611 to 1,742 (8.1%). Pending sales
also increased from 2,005 to 2,167
(8.1%). New listings went up from
3,099 to 3,338 (7.7%).
At the months rate of sales, the
11,825 active residential listings
would last about 6.8 months.
Sale Prices
Average sale price for May 2011
declined 4.8% compared to May

Change

2010

2011

Portland Metro
Residential
Highlights
May
Year-to-date
May
Year-to-date
May
Year-to-date

2010. Median sale price also fell

7.9%. See residential highlights table
below.
Month to month, comparing
April 2011 to May 2011, sale price
activity showed minimal change.
Average sale price went down from
$267,300 to $262,400 (-1.8%) while
median sale price increased from
$219,900 to $220,000 (0.1%).
Year-to-Date
Comparing January-May 2010
with the same period in 2011, sales
activity was down. Closed sales
decreased by 9.3% (8,069 v. 7,321).
Pending sales went down by 9.6%
(9,792 v. 8,853), and new listings fell
26.4% (21,583 v. 15,878).
Additionally, the average sale
price fell 7.3% ($278,500 v. $258,300),
and the median sale price dropped
9.1% ($239,900 v. $218,000).

May 2011 Reporting Period

Inventory in Months*
2009 2010 2011
January
19.2 12.6 11.3
February
16.6 12.9 10.9
March
12.0 7.8 7.1
April
11.0 7.3 7.2
May
10.2 7.0 6.8
June
8.2 7.3
July
7.3 10.8
August
7.8 11.0
September
7.6 10.5
October
6.5 10.7
November
7.1 10.2
December
7.7 7.9
*Inventory in Months is calculated by dividing
the Active Listings at the end of the month in
question by the number of closed sales for
that month.
Percent Change of 12-Month Sale Price
Compared With The Previous 12 Months
Average Sale Price % Change:
-3.8% ($273,900 v. $284,600)
Median Sale Price % Change:
-4.2% ($230,000 v. $240,000)

For further explanation of this measure, see

the second footnote on page 2.

New
Listings

Pending
Sales

Closed
Sales

Average
Sale Price

Median
Sale Price

Total
Market
Time

3,338

2,167

1,742

262,400

220,000

145

15,878

8,853

7,321

258,300

218,000

157

3,482

1,493

2,050

275,500

239,000

123

21,583

9,792

8,069

278,500

239,900

134

-4.1%

45.1%

-15.0%

-4.8%

-7.9%

17.3%

-26.4%

-9.6%

-9.3%

-7.3%

-9.1%

16.8%

*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 2011. All Rights Reserved.

AREa REPORT 5/2011

Metro Portland & Adjacent Regions, Oregon

Average Sale Price

Average Sale Price

652

352

-17.8%

321

212,600

205,000

-6.5%

327,200

11

85,100

258,800

NE Portland

903

327

127

238

60.8%

179

283,100

107

1,494

882

-13.0%

723

271,100

228,000

-0.9%

360,200

11

181,700

31

356,600

SE Portland

1,157

386

148

295

62.1%

230

211,700

116

1,894

1,126

-15.2%

911

207,200

172,000

-5.3%

13

245,400

15

136,800

36

338,100

Gresham/
Troutdale

762

189

88

137

33.0%

109

183,800

172

1,029

590

-9.6%

509

194,900

171,000

-6.9%

361,700

25

66,000

13

181,200

Milwaukie/
Clackamas

966

277

92

164

32.3%

131

232,200

147

1,290

679

-8.6%

561

237,700

218,700

-8.9%

516,600

35

109,900

10

281,000

Oregon City/
Canby

709

175

82

99

70.7%

84

242,000

178

838

461

-1.7%

380

224,000

209,900 -11.7%

70,000

17

139,000

177,000

Lake Oswego/
West Linn

863

218

69

117

31.5%

100

408,500

147

1,044

503

-1.8%

413

401,600

355,000 -11.5%

317,700

399,000

1,361

400

172

261

20.3%

210

374,400

196

1,858

1,083

2.3%

880

385,500

329,900

-0.7%

534,800

29

124,900

471,400

NW Wash Co.

488

176

45

113

54.8%

97

353,100

110

754

449

-4.7%

380

345,500

315,000

-1.5%

430,800

17

187,200

298,800

Beaverton/
Aloha

947

264

117

203

72.0%

151

202,500

143

1,323

802

-13.4%

659

204,800

189,000

-6.5%

256,500

201,300

263,200

Tigard/
Wilsonville

1,068

308

112

170

30.8%

156

286,000

137

1,384

704

-13.1%

581

277,700

258,900

-5.1%

39,400

14

291,700

206,400

Hillsboro/
Forest Grove

755

188

66

144

61.8%

108

193,900

148

1,022

608

-11.4%

488

198,600

183,800 -10.7%

234,000

11

157,400

19

247,600

Mt. Hood

148

25

24

-11.1%

243,000

172

121

35

-23.9%

28

206,400

201,000 -13.4%

76,000

Columbia Co.

462

82

26

39

-13.3%

48

167,800

202

419

198

-10.0%

183

164,100

149,900 -11.3%

801
#####

164
####

67
####

87 52.6%
####
12.3%

75
####

190,700
262,400

140
145

756 8,853
381
#####

-10.8%
-61.7%

304
7,321

181,800
258,300

165,000
218,000

1,697

305

119

53

251,600

150

1,124

-7.0%

291

249,100

204,000

141
142
143
148
149
153
155
156

W Portland

180-195
200

Yamhill Co.
Grand Total

North Coastal
Counties

74

19.4%

321

Closed Sales

108

Closed Sales

230,500

Closed Sales

60

Avg. Sale Price %

Change2

80.4%

144

Median Sale Price

92

Closed Sales

46

New Listings

Expired/Canceled
Listings

159

Closed Sales

New Listings

435

Active Listings

N Portland

145

Average Sale Price

Pending Sales 2011 v.

2010

Year-To-Date

146

Pending Sales 2011

Year-To-Date

147

Total Market Time

Year-To-Date

150

Average Sale Price

MULTIFAMILY

151

Pending Sales 2011 v.

20101

Year-To-Date

LAND

152

Pending Sales 2011

Current Month

COMMERCIAL

Average Sale Price

RESIDENTIAL

100,300

11

130,900

140,800

-5.6%
-3.7%

523

401,800

18
##

190,000
145,100

1577

227,000
293,100

-8.4%

513,500

34

103,800

251,000

Note: Data for Polk and Marion Counties is now reported in the monthly Polk & Marion Counties Market Action Report.

Percent change in number of pending sales this year compared to last year. The Current Month section compares May 2011 with May 2010. The Year-To-Date
section compares year-to-date statistics from May 2011 with year-to-date statistics from May 2010.

% Change is based on a comparison of the rolling average sale price for the last 12 months (6/1/10-5/31/11) with 12 months before (6/1/09-5/31/10).

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 2011. All Rights Reserved.

16000

ACTIVE
RESIDENTIAL
LISTINGS

14000

Portland, OR

12000

This graph shows the active

10000

residential listings over the

8000

past three calendar years in

6000

the greater Portland, Or-

Active Residential Listings

4000

egon metropolitan area.

2009

2010

2011

TOTAL ACTIVE
LISTINGS
PORTLAND, OR

Total Active Listings

20000

This graph shows the

17500

total active listings over

15000

the past three calendar

years in the greater
Portland, Oregon

12500
10000

7500
5000

metropolitan area.
2009

2010

2011

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

calendar years in the

2,000

greater Portland, Oregon

1,000

metropolitan area.

2009

2010

2011

Copyright RMLS 2011. All Rights Reserved.

PENDING LISTINGS

Pending Sales

PORTLAND, OR

This graph represents

3,500
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.

2009

2010

2011

CLOSED SALES

Closed Sales

PORTLAND, OR

This graph shows the

3,000

closed sales over the past

2,500

five calendar years in the

2,000

greater Portland, Oregon

1,500

2008

metropolitan area.

1,000

2009

2007

2010

500

2011

DAYS ON MARKET

Average Market Time

PORTLAND, OR

200
180
160
140
120
100
80
60
40
20
0

This graph shows the

average market time for
sales in the Portland,
Oregon metropolitan area
over the past three calendar
years.
2009 TMT

2010 TMT

2011 TMT

Copyright RMLS 2011. All Rights Reserved.

This graph represents the average sale price for all homes sold in the Portland,

AVERAGE SALE
PRICE

Oregon metropolitan area.

PORTLAND, OR

Average Sale Price

$375,000

$355,000
$335,000
$315,000
$295,000

$275,000
$255,000
$235,000

$215,000
$195,000
May-11

Nov-10

May-10

Nov-09

May-09

Nov-08

May-08

Nov-07

May-07

Nov-06

May-06

Nov-05

May-05

Nov-04

May-04

Nov-03

May-03

Nov-02

May-02

Nov-01

May-01

$175,000

MEDIAN SALE
PRICE

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

PORTLAND, OR

260000
240000

220000

This graph shows the

200000

median sale price over

180000

the past 12 months in

160000

the greater Portland,

140000
120000

Oregon, metropolitan

100000

area and Clark

MAY JUNE JULY AUG SEPT OCT
Clark County

NOV

DEC

JAN

FEB

MAR APR

Metro Portland, OR

Copyright RMLS 2011. All Rights Reserved.

MAY

County.

Median sale price

May 2011

SW
Washington

$143,000

$259,900

Woodland

N/NE Clark County

$196,400

Portland

$233,600

Battle Ground

Ridgefield/La Center

Metro

$ 147,000
Columbia County
$235,000
Salmon Creek
$195,000
Felida

$332,500
North Washington County
Sauvie Island

Brush Prairie
Hockinson

$174,500
Hazel
Dell
Minnehaha

$145,000
5 Corners
Orch.

$149,900
Cent. Vancouver

$180,500
Hillsboro
$190,000
Beaverton

$311,300
West
Portland

Aloha

$272,000
Tigard/Tualatin
Sherwood
Wilsonville

$254,000
Camas/Washougal
$245,000
NE
Portland
$175,900
SE
Portland
$212,800

$369,000

Milwaukie/Gladstone/
Boring/Clackamas
Estacada

Lake Oswego
West
Linn

$164,500
$215,000
Oregon City
Canby
Molalla
Beavercreek

Yamhill County

$170,000
Cascade Park

$137,500
Heights

$220,000
N Portland

Forest Grove

$255,000

Copyright RMLS 2011. All Rights Reserved.

$171,000
Gresham
Troutdale
Sandy
Corbett
Fairview

$183,000
Mt. Hood:
Zigzag
Welches
Rhododendron
Wemme
Brightwood
Government Camp

MULTIPLE LISTING SERVICE

Corporate
825 NE Multnomah, Suite 270
Portland, OR 97232
(503) 236-7657
Fax: (503) 230-0689

MEDIAN SALE
PRICE CONDOS
PORTLAND, OR

Southwest Washington
1514 Broadway, Suite 101
Vancouver, WA 98663
(360) 696-0718
Fax: (360) 696-9342
Salem
2110 Mission St. SE, Suite 305
Salem, OR 97302
(503) 587-8810
Fax: (503) 585-3817
Lane County: Eugene
2139 Centennial Plaza
Eugene, OR 97401
(541) 686-2885
Fax: (541) 484-3854
Lane County: Florence
PO Box 414
Florence, OR 97439
(541) 902-2560
Fax: (541) 902-1341
Douglas County
3510 NE Edenbower
Roseburg, OR 97470
(541) 673-3571
Fax: (541) 673-6581
Curry County
PO Box 6307
Brookings, OR 97415
(541) 469-0219
Fax: (541) 469-9695
Mid-Columbia
PO Box 1088
Hood River, OR 97031
(541) 436-2956
Fax: (541) 387-6657
Eastern Oregon
PO Box 751
Hermiston, OR 97838
(541) 567-5186
Fax: (541) 289-7320
Coos County
1946 Sherman Ave., Suite 101
North Bend, OR 97459
(541) 751-1070
Fax: (541) 751-1083
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, MidColumbia, Columbia Basin, Baker County,
Coos County, Curry County, Douglas
County, Grant County, Lane County, 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.

This graph represents the median sale price for all

condos sold in the last three calendar years in the
Portland, Oregon metropolitan area.
Median Condo Sale Price

$245,000
$220,000
$195,000
$170,000
$145,000
$120,000

2009

2010

2011

ACTIVE & SOLD This graph shows active and sold condos for the Portland,
CONDOS
PORTLAND, OR

Oregon, metropolitan area through the last year.

Active & Closed Condos

2,500
2,000
1,500
1,000
500
0

Active Listings

Closed Sales

Cory Neu, Chairman of the Board

Kurt von Wasmuth, President/CEO
Kelsey Brunson, Editor
Danny Gottleib, Assistant Editor
Copyright RMLS 2011. All Rights Reserved.