Last Week in Portland + April Report

 

Hi There!

Here’s a brief breakdown of the latest real estate data in Portland.  Right below it, see addresses & details re: what Sold Last Weekhow long it took, and for how much.
(All data derived from RMLS)

LATEST APRIL NUMBERS/OVERVIEW

According to the RMLS Market Action Report for the Portland Metro Area, April, 2017:

  • There were 3,579 New Listings in April 2017 which was down 7.9% from April of 2016’s 4,082, but UP 4.3% from March of 2017’s total of 3,604.
  • At 2,219, April Closed Sales were down 15% from April 2016’s 2,611, and also down 11% over the previous month/March 2017’s total of  2,494.
  • April Pending Sales (accepted offers), at 3,088 fell 10% from April of 2016’s 3,432, but were UP 1.5% from the previous month/March 2017’s total of 3,043.
  • The Average Sale Price in April of $428,800 was up $31,100 from April 2016’s $397,700, and showed hardly any change from March 2017’s $428,400.
     April Average Sale Price + Appreciation (last 12 months):

  • North Portland:  $410,000                         11.6%
  • NE Portland:  $455,700                               10.7%
  • SE Portland:  $404,000                                11.0%
  • Gresham/Troutdale:   $324,700               12.5%
  • Milwaukie/Clackamas:   $415,600           10.7%
  • Oregon City/Canby:   $398,400                   8.6%
  • Lake Oswego/West Linn:    $623,300        9.6%
  • West Portland:    $598,400                         14.0%
  • NW Washington County:    $549,400       10.6%
  • Beaverton/Aloha:     $360,900                   10.9%
  • Tigard/Wilsonville:    429,420                      7.1%
  • Hillsboro/Forest Grove:    $384,200         13.3%

ON THE MORTGAGE FRONT

Let’s hear from one of my most trusted resources:

Well, folks, here we are, smack dab in the middle of the home buying season and mortgage rates should be going up.   Mirabile dictu, they are going down, at least momentarily.   For this we have the politicos in Washington to thank.   Chaos and uncertainty in either government or the economy cause the tides of money sloshing around the world to hunker down for safety’s sake in government instruments: bills, bonds and notes.   The price of the instrument goes up due to higher demand, and so the yields, which run counter to price, go down.

Mortgages rates follow the yields of existing U.S. 10 year notes.   As 10 year Treasury yields start to drift down, voilà, mortgage rates go down.

How long this will last is anyone’s guess now.   The stock market, which took a hit the other day due to the turmoil in D.C. has mostly recovered today, so the bond market may soon see a reversal as well.   But no one knows.   The bottom line is:   buyers are seeing very favorable mortgage loan rates.   At least for now.

PETE CHRISTELMAN
Mortgage Originator
NMLS –  93499
Tel:         (503) 282 9000
Mobile:   (503) 381 7222
Email:     pchristelman@financeofamerica.com
MACADAM  I  4380 SW MACADAM AVE  I SUITE 560  I  PORTLAND, OR 97239
FinanceofAmerica.com/Macadam

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© 2015  Finance of America LLC I  I  Equal Housing Lender  cid:image003.png@01D16E57.477735A0 I  NMLS 1071

Mortgage Banker License #0910184 I  Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act  I Georgia Residential Mortgage Licensee  I  Illinois Residential Mortgage Mortgage Licensee  I  Kansas Licensed Mortgage Company  I  Licensed by the Mississippi Department of Banking and Consumer Finance I  Licensed by the New Hampshire Banking Department  I  Licensed by the N.J. Department of Banking and Insurance  I  Licensed Mortgage Banker–NYS Banking Department I  Rhode Island Licensed Lender

______________________________________________

LAST WEEK IN PORTLAND

Check out your neighborhood (or desired neighborhood) with this detailed, scrollable graph of what SOLD in Portland’s N, NE, SE SW & NW areas May 8-14:
**NOTE: CDOM = Cumulative Days on Market

North Portland            
Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
6697 N COLUMBIA WAY $225,000 $230,500 2 1.1 1020 ATTACHD 1
198 N HAYDEN BAY DR $259,000 $259,000 2 1 844 CONDO 111
7109 N BANK ST $225,000 $275,000 3 2 1209 DETACHD 6
7222 N MISSISSIPPI AVE $265,000 $299,000 2 1 1636 DETACHD 4
8361 N JOHNSWOOD DR $310,000 $320,000 3 1.1 1404 DETACHD 2
2104 N SUMNER ST $320,000 $333,000 2 1 720 DETACHD 4
7315 N JERSEY ST $365,000 $370,000 2 1 1454 DETACHD 4
9517 N WOOLSEY Ave $325,000 $375,000 4 2.1 1860 DETACHD 3
1016 N TERRY ST $339,000 $380,000 2 1 919 DETACHD 4
7706 N MCKENNA AVE $379,900 $385,000 2 1 1560 DETACHD 5
7616 N LEONARD ST $389,900 $410,000 3 1 1975 DETACHD 16
3025 N WINCHELL ST $399,900 $412,000 2 1 1834 DETACHD 7
6940 N BURR AVE $379,000 $415,000 3 2 1618 DETACHD 6
9326 N TIOGA AVE $399,900 $420,000 3 2.1 1832 DETACHD 4
350 N Tomahawk Island DR $425,000 $425,000 1 2 1331 FLTHOME  
 

9519 N SYRACUSE ST

$379,900 $425,000 3 1 1776 DETACHD 7
8005 N WILLAMETTE BLVD $449,900 $439,750 4 4 3384 DETACHD 8
 

7823 N BRADFORD ST

$499,000 $469,000 2 1 1275 DETACHD 35
3636 N BALDWIN ST $399,900 $470,000 2 1 1679 DETACHD 4
3644 N MICHIGAN AVE $469,900 $480,150 3 2.1 1506 DETACHD 5
3632 N TRENTON ST $549,900 $500,000 9 3 3360 DETACHD 20
8016 N FISKE AVE $459,900 $520,000 3 2 2264 DETACHD 6
5006 N SYRACUSE ST $599,900 $550,000 4 2 2244 DETACHD 48
9336 N IVANHOE ST $595,000 $615,000 3 2 3196 DETACHD 4
1533 N JARRETT ST $825,000 $823,000 4 3 3040 DETACHD 86
4127 N MICHIGAN AVE $899,900 $870,000 4 3.1 2843 ATTACHD 277
3537 N WILLIAMS AVE $1,500,000 $1,000,000 3 3 3425 DETACHD 65
NE Portland            
Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
10925 NE MORRIS ST $175,000 $201,000 3 1 1372 DETACHD 4
221 NE 149TH PL $245,920 $255,279 3 2 1478 DETACHD 34
105 NE 143rd AVE $279,900 $279,900 3 1 1259 DETACHD  
8835 NE BEECH ST $250,000 $287,500 2 2 1876 DETACHD 7
5701 NE 72ND AVE $268,900 $302,705 3 2 1950 DETACHD 3
12639 NE HASSALO ST $299,900 $305,000 3 2 1301 DETACHD 14
120 NE 156TH AVE $299,000 $305,000 2 2 1402 DETACHD 6
15901 NE HANCOCK ST $349,000 $325,000 3 2.1 1612 DETACHD 31
513 NE 131ST PL $299,000 $327,000 3 2 1162 DETACHD 4
742 NE 173RD AVE $315,000 $330,000 4 2 2152 DETACHD 11
925 NE 110TH AVE $309,900 $335,000 2 1.1 984 DETACHD 5
308 NE 92ND AVE $319,900 $340,000 3 1 960 DETACHD 6
13319 NE SACRAMENTO ST $304,000 $340,000 4 2 1570 DETACHD 5
6133 NE 18TH AVE $499,900 $355,000 3 1 1500 DETACHD 69
2015 NE 155TH CT $355,000 $355,000 2 2 1636 DETACHD 4
14831 NE DAVIS CT $325,000 $373,350 3 2 2194 DETACHD 3
4215 NE 115TH AVE $329,000 $375,000 3 2 1508 DETACHD 3
10717 NE SKIDMORE ST $379,600 $379,600 4 2.1 2534 DETACHD 30
1233 NE 76TH AVE $365,000 $380,000 2 1 1600 DETACHD 284
3706 NE MAYWOOD PL $357,900 $381,000 3 1 1650 DETACHD 16
1176 NE 69TH AVE $325,000 $395,000 2 1 848 DETACHD 6
9200 NE LEVEE RD $400,000 $400,000 3 1 1766 DETACHD 13
1512 NE 148TH PL $405,000 $403,250 2 2 2017 DETACHD 4
30 NE MORGAN ST $349,500 $405,000 2 1 741 DETACHD 3
5002 NE 33RD AVE $400,000 $409,250 2 1 1508 DETACHD 10
6563 NE GRAND AVE $379,000 $410,000 2 1.1 1422 DETACHD 3
3515 NE 152ND AVE $419,000 $419,900 4 2.1 2532 DETACHD 35
7408 NE MALLORY AVE $399,900 $428,000 3 2 1792 DETACHD 6
1714 NE GOING ST $529,000 $430,000 3 1.1 2367 DETACHD 86
4352 NE HASSALO ST $440,000 $439,000 2 2 1906 DETACHD 8
 

6016 NE FAILING ST

$389,000 $440,000 4 1 2828 DETACHD 74
4000 NE 66TH AVE $435,000 $440,000 2 2 1568 DETACHD 19
8806 NE BROADWAY $399,900 $447,000 3 2 2524 DETACHD 4
855 NE JARRETT ST $399,000 $450,000 3 2 1626 DETACHD 4
3642 NE 71ST AVE $400,000 $451,000 3 1 1360 DETACHD 6
4739 NE 15TH AVE $439,000 $457,000 3 1.1 1394 ATTACHD 8
7026 NE GRAND AVE $425,000 $467,000 3 2 1816 DETACHD 3
5015 NE HALSEY ST $469,900 $470,000 3 1 2042 DETACHD 7
5831 NE 29TH AVE $465,000 $475,000 3 2 1458 ATTACHD 3
3606 NE 23RD AVE $479,500 $510,000 2 1 1367 DETACHD 4
3705 NE 63RD AVE $449,900 $511,000 3 1 1812 DETACHD 2
3006 NE 55TH AVE $579,900 $525,000 3 1 1935 DETACHD 94
4521 NE GARFIELD AVE $499,000 $527,000 3 2 1973 DETACHD 10
1200 NE 135TH AVE $569,900 $550,000 4 4.1 3591 DETACHD 10
3321 NE 31ST AVE $549,900 $550,000 3 1.5 2238 DETACHD 0
78 NE FREMONT ST $539,000 $556,700 4 2 1750 DETACHD 6
4935 NE 24TH AVE $550,000 $560,000 3 2 2745 DETACHD 4
3315 NE 64TH AVE $559,000 $570,000 3 3 2874 DETACHD 12
5611 NE 25TH AVE $579,000 $575,000 5 2.1 2244 DETACHD 19
3557 NE 47TH AVE $624,900 $576,000 4 2 1981 DETACHD 131
10832 NE FARGO ST $599,000 $599,000 4 2.1 2781 DETACHD 3
4823 NE 21ST AVE $525,000 $605,000 3 1 2878 DETACHD 5
4915 NE 26TH AVE $599,900 $610,000 2 2.1 1649 ATTACHD 3
5811 NE 16th AVE $699,999 $668,000 4 2.1 2318 DETACHD  
1575 NE JARRETT ST $699,999 $675,000 4 2.1 2318 DETACHD 41
3774 NE ALAMEDA ST $799,900 $712,000 3 2 3192 DETACHD 21
475 NE HAZELFERN PL $775,000 $745,000 4 2.1 3101 DETACHD 13
3605 NE 14TH AVE $799,999 $775,000 4 3.1 2731 ATTACHD 15
2814 NE SCHUYLER ST $790,000 $790,000 4 3.1 2819 DETACHD 5
607 NE FLORAL PL $789,900 $825,000 3 1.1 3139 DETACHD 7
3923 NE 20TH AVE $795,000 $875,000 4 3 2862 DETACHD 7
823 NE FAILING ST $939,000 $885,000 4 4 2921 DETACHD 78
2544 NE 24TH AVE $899,950 $910,000 4 3.1 3491 DETACHD 2
3426 NE ALAMEDA ST $1,299,900 $1,250,000 5 4 4261 DETACHD 11
SE Portland            
Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
12446 SE CARUTHERS ST $164,900 $140,000 2 1.1 1096 ATTACHD 45
2416 SE 145TH AVE $199,900 $185,000 3 1 1200 DETACHD 17
11209 SE STARK ST / Main $169,000 $189,000 2 2.1 1154 CONDO 2
14524 SE GLADSTONE ST $189,000 $192,000 2 2 1338 RES-MFG 5
16230 SE RHINE CT $199,900 $213,500 3 1 1163 DETACHD 3
5916 SE KNAPP ST $230,000 $230,000 3 1 1116 DETACHD 31
 

7120 SE CRYSTAL SPRINGS BLVD

$249,900 $250,000 3 1 1474 DETACHD 3
7711 SE 66TH AVE $262,000 $265,000 1 1 615 DETACHD 11
1421 SE 179TH AVE $245,000 $265,000 3 1 864 DETACHD 4
1421 SE 158TH AVE $249,950 $265,000 3 1 1006 DETACHD 2
2239 SE 146TH AVE $249,000 $273,500 3 1 864 DETACHD 4
7330 SE MITCHELL CT $340,000 $279,000 2 1 1062 DETACHD 104
13512 SE RAMONA ST $270,000 $280,000 3 2 1248 DETACHD 16
6729 SE 131ST PL $269,000 $285,000 3 1 946 DETACHD 6
7930 SE MITCHELL ST $289,000 $290,000 3 1 2448 DETACHD 22
13236 SE CORA ST $279,900 $290,000 4 1.1 2208 DETACHD 19
4403 SE 130TH AVE $290,000 $300,000 3 2 1012 DETACHD 7
3215 SE 116TH AVE $329,900 $300,000 3 1 1194 DETACHD 12
10612 SE LIEBE ST $295,000 $305,000 4 2 1612 DETACHD 2
13129 SE LINCOLN ST $289,900 $315,000 3 2.1 1414 DETACHD 5
6134 SE 72ND AVE $299,900 $315,000 3 2 1344 DETACHD  
4018 SE HENDERSON ST $290,000 $316,000 1 1 480 DETACHD 5
807 SE 153RD AVE $309,900 $320,000 3 2 1072 DETACHD 5
3915 SE 69TH AVE $325,000 $328,500 2 1 884 DETACHD 93
3705 SE 107TH AVE $309,900 $331,100 4 3 1400 DETACHD 27
9714 SE YUKON ST $299,900 $340,000 3 1 1450 DETACHD 7
9311 SE YAMHILL ST $339,900 $340,000 3 2 1346 DETACHD 5
7136 SE 118TH DR $399,000 $340,500 3 1.1 1440 DETACHD 112
2833 SE 60TH AVE $319,000 $345,000 3 1 1414 DETACHD 5
6036 SE RAYMOND ST $320,000 $347,000 2 1.1 1894 DETACHD 3
5429 SE 17TH AVE $299,000 $348,000 2 2 998 CONDO 6
10422 SE DIVISION ST $365,900 $353,000 3 1 1680 DETACHD 3
1234 SE 113TH AVE $319,900 $354,000 3 1 1437 DETACHD 10

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