Linda Rossi – January 18, 2019

~  Ultra Current Portland Real Estate News  ~

 

 

Every January we get to take a look at how the numbers shook out for the prior year. The winter/holiday months always bring some cooling, and/but we also get to look at a full year-to-year comparison  at this juncture.

OVERVIEW: Things have leveled-out a bit from 2017 to 2018 but homes are appreciating in value, inventory is high, and anecdotally, the general consensus is that Buyers are out in force and we are seeing lots of activity including some multiple offers for well-priced homes. Rates are also pretty good right now according to my Lending pals, and prices, while not going up quite as fast anymore, are generally still profitable for Sellers and a little more affordable for Buyers. Overall, when the market is more predictable, it is good for everyone!

 

 

According to the RMLS Market Action Report for the Portland Metro Area:

• There were 1,255 New Listings in December 2018 which was down 21.4% from December of 2017’s 1,617, and also down 45.7% from the previous month’s total 2,310.
  • ***New Listings for the entire year were: 41,287, an increase of 1.2% over 2017.
• At 1,846, December Closed Sales cooled 21.4% from December 2017’s 2,350, and also 13.9 % from the previous month/Nov 2018’s total of 2,144. This is the coolest December for Closed Sales since 2013 when the total was 1,821.
  • ***Closed Sales for the entire year were: 29,771, a decrease of 5.9% from 2017.
• December’s Pending Sales (accepted offers), at 1,599 are down 9.0% down from December of 2017’s 1,757, and 16.0% from the previous month/Nov 2018’s total of 1,904.
  • ***Pending Sales for the entire year were: 29,809, a decrease of 4.9% from 2017.
• The Average Sale Price in December of $438,600 was up $16,900 from last year/December 2017’s $421,700, and down from the previous month/Nov 2018’s  $448,900 by $10,300. ***I am going to start including Median Sale Price for 2019.  The Median Sale Price (price smack dab in the middle) in December 2018 was: $390,000.  which is up from $380,000 in Dec 2017.
  • ***YTD Median Sale Price for the entire year was: $400,000, up 5.3% from 2017’s $379,900.

Neighborhoods: December’s Average Sale Price + 12-month Appreciation:

North Portland:  $388,700              4.3%       (Nov 412,500 / Dec ’17: 400,500   5.9%)                                                                                                                               YTD Median: $400,000

NE Portland:  $450,600                    4.0%       (Nov 453,100 / Dec ’17: 430,000,  8.1%)                                                                                                                                YTD Median: $415,000

SE Portland:  $425,900                     5.9%       (Nov 425,200 / Dec ’17: 382,200  8.7%)                                                                                                                                 YTD Median: $375,000

Gresham/Troutdale:   $338,500    7.7%       (Nov 361,600 / Dec ’17: 329,600 10.4%)                                                                                                                                YTD Median: $340,000

Milwaukie/Clackamas:  $427,500  4.6%      (Nov 443,400 / Dec ’17: 411,500,  9.1%)                                                                                                                                YTD Median: $400,000

Oregon City/Canby:   $428,600     7.1%      (Nov 427,200 / Dec ’17: 402,100   7.2%)                                                                                                                                 YTD Median: $392,500

Lake Oswego/West Linn: $636,300  0.6%   (Nov 728,500 / Dec ’17: 662,700   9.5%)                                                                                                                                YTD Median: $580,000

West Portland:    $588,800             3.8%      (Nov 601,000 / Dec ’17: 612,700   3.2%)                                                                                                                                 YTD Median: $519,000

NW Wash County:  $483,400         2.5%      (Nov 511,700 / Dec ’17: 534,400   7.7%)                                                                                                                                 YTD Median: $520,000

Beaverton/Aloha:     $381,600        8.6%     (Nov 397,200 / Dec ’17: 363,200    9.2%)                                                                                                                               YTD Median: $375,000

Tigard/Wilsonville:   $459,600       6.3%      (Nov 482,000 / Dec ’17: 435,700   7.7%)                                                                                                                                 YTD Median: $430,000

Hillsboro/Forest Grove: $382,100  5.9%    (Nov 381,300 / Dec ’17: 366,800  11.0%)                                                                                                                                YTD Median: $372,000

 

Linda Rossi – January 5, 2019

Of course we think we’re #1 because we love it here. And/but #2 may be getting us a bit too much attention till we can update some of our infrastructure & ease some rental concerns??  So…. we may wish to keep Portland to ourselves, but the world is definitely noticing us…

Check out these two Links:

1) WKRN 

2) That Oregon Life

Linda Rossi – December 23, 2018

The holidays are all around us now!

Here is your look at the most recent data for the entire Portland area (Nov) and a neighborhood-by-neighborhood breakdown just below it.             (***End-of-Year Numbers/Dec will be out on or about Jan 15th)

According to the RMLS Market Action Report for the Portland Metro Area, November, 2018:

• There were 2,310 New Listings in November 2018 which was down 4.4% from November of 2017’s 2,416, and also down 25.5% from the previous month/Oct of 2018’s total of 3,100 .
• At 2,144, November Closed Sales cooled  10.2% from November 2017’s 2,387, and also 12.1 % from the previous month/Oct 2018’s total of 2,440.
• November’s Pending Sales (accepted offers), at 1,904 are down 19.7% down from November of 2017’s 2,371, and 23.3% from the previous month/Oct 2018’s total of  2,484.
• The Average Sale Price in November of $448,900 was up $23,900 from last year/November 2017’s $425,000, and down a little from the previous month/Oct 2018’s $454,400 by $5,500.   

Neighborhoods: November’s Average Sale Price + 12-month Appreciation:

• North Portland:  $412,500              4.6%   (Oct 428,700)
• NE Portland:  $453,100                    3.7%   (Oct 463,100)
• SE Portland:  $425,200                     5.3%   (Oct 395,200)
• Gresham/Troutdale:   $361,600     8.1%   (Oct 359,700)
• Milwaukie/Clackamas:  $443,400  5.1%   (Oct 410,200)
• Oregon City/Canby:   $427,200       6.9%   (Oct 408,600)
• Lake Oswego/West Linn:$728,5001.4%   (Oct 714,500)
• West Portland:    $601,000               4.3%   (Oct 646,200)
• NW Wash County:  $511,700           2.9%   (Oct 588,300)
• Beaverton/Aloha:     $397,200         8.0%   (Oct 398,000 )
• Tigard/Wilsonville:   $482,000         6.6%   (Oct 454,400 )
• Hillsboro/Forest Grove: $381,300  6.3%   (Oct 400,500 )

Linda Rossi – December 15, 2018

Congratulations!!!

Linda Rossi – December 12, 2018

Linda Rossi – December 10, 2018

 

Hey, My clients win. On this one it was a win over 5 other Offers… 4 at the same offer price as ours.

Linda Rossi – November 21, 2018

Inventory is still higher than usual, but is coming down just a bit. I hate to keep beating this drum, but it really is the best time of year to buy.  Two of my clients In particular just snapped up two gorgeous homes and had great options from which to choose. At this time of year prices have cooled and there aren’t quite as many Buyers out fighting you for showings. Its a perfect combination of variables.

Here is your look at the most recent data for the entire Portland area (October):

 

According to the RMLS Market Action Report for the Portland Metro Area, October, 2018:

• There were 3,100 New Listings in October 2018 which was up 4.0% from October of 2017’s 2,981, and/but down 14.0% from the previous month/Sept of 2018’s total of 3,606 .
• At 2,440, October Closed Sales fell  4.9% from October 2017’s 2,565, but are up 7.4 % from the previous month/Sept 2018’s total of 2,272.
• October’s Pending Sales (accepted offers), at 2,484 down 8.2% down from October of 2017’s 2,705, but up 0.5% from the previous month/Sept 2018’s total of  2,471.
• The Average Sale Price in October of $454,400 was up $15,900 from October 2017’s $438,500, and also up from the previous month/Sept 2018’s $447,800 by $6,600.   

Neighborhoods: October’s Average Sale Price + 12-month Appreciation:

• North Portland:  $428,700               4.8%   (Sep 416,300)
• NE Portland:  $463,100                     3.8%   (Sep 433,700)
• SE Portland:  $395,200                      5.8%   (Sep 420,200)
• Gresham/Troutdale:   $359,700     9.0%   (Sep 352,200)
• Milwaukie/Clackamas:  $410,200  4.3%   (Sep 437,400)
• Oregon City/Canby:   $408,600       6.4%   (Sep 404,300)
• Lake Oswego/West Linn:$714,500 2.6%   (Sep 627,000)
• West Portland:    $646,200                4.2%   (Sep 631,700)
• NW Wash County:  $588,300            3.3%   (Sep 486,200)
• Beaverton/Aloha:     $398,000          7.4%   (Sep 402,800)
• Tigard/Wilsonville:   $454,400          6.9%   (Sep 466,900)
• Hillsboro/Forest Grove: $400,500   6.5%   (Sep 393,200)

Linda Rossi – November 15, 2018

I Love it when I remember to take a picture~

Linda Rossi – September 19, 2018

Activity continues to be mixed in the Portland area. A lot of it is seasonal/happens every year. Some looks like a slight cooling trend.
Here is your look at the most recent data for the entire Portland area (August) and broken down by neighborhood below:
According to the RMLS Market Action Report for the Portland Metro Area, August, 2018:
• There were 4,214 New Listings in August 2018 which was up 4.1% from August of 2017’s 4,048, and down 2.3% from the previous month/July of 2018’s total of 4,312 .
• At 2,967, August Closed Sales fell 2.2% from August 2017’s 3,034, and/but were up 8.4 % from the previous month/July 2018’s total of 2,736.
• August’s Pending Sales (accepted offers), at 2,760 were cooler at 10.2% down from August of 2017’s 3,072, and 10.1% down as well from the previous month/July 2018’s total of 3,071.
• The Average Sale Price in August of $462,400 was up $26,700 from August 2017’s $436,400, and also up from the previous month/July 2018’s $455,100 by $7,300.
Neighborhoods: August’s Average Sale Price + 12-month Appreciation :
• North Portland: $403,000 4.6% (July 415,900)
• NE Portland: $468,800 4.1% (July 467,400)
• SE Portland: $427,500 7.3% (July 425,400)
• Gresham/Troutdale: $360,000 10.5% (July 361,500)
• Milwaukie/Clackamas: $444,000 5.2% (July 427,400)
• Oregon City/Canby: $436,000 7.7% (July 439,400)
• Lake Oswego/West Linn:$745,100 5.1% (July 689,700)
• West Portland: $646,200 3.6% (July 591,000)
• NW Wash County: $557,900 4.4% (July 552,500)
• Beaverton/Aloha: $406,600 8.0% (July 383,600)
• Tigard/Wilsonville: $466,100 8.1% (July 452,700)
• Hillsboro/Forest Grove: $386,900 7.5% (July 403,100)