Last Week in Portland + Feb Report 2017

 

Ultra Current Portland Real Estate News

www.LindaRossi.net

PORTLAND MARKET DATA

3/22/17

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.

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

  • There were 2,521 New Listings in February 2017 which was down 12.9% from February of 2016’s 2,896, but UP 14% from January of 2017’s total of 2,212.
  • At 1,669, February Closed Sales were down 7.9% from February 2016’s 1,813, and also down 9.6% over the previous month/January 2017’s total of  1,847. (So, more sales Closed in January for people who were Pending during the year-end push.)
  • February Pending Sales (accepted offers), at 2,369, fell 15% from February of 2016, but were UP 19% from the previous month/January 2017’s total of 1,990.
  • The Average Sale Price in February of $404,200 was up $39,300 from February 2016’s $364,900, and down a bit from January 2017’s $409,900.

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February Average Sale Price + Appreciation (last 12 months):

  • North Portland:  $368,700                              11.2%   (Jan: $341,900/12.5%)
  • NE Portland:  $429,500                                   12.2%  (Jan: $420,500/ 11.8%)
  • SE Portland:  $355,700                                   10.8%  (Jan: $358,000 / 10.6%
  • Gresham/Troutdale:   $297,000                      12.2%  (Jan: $295,800 / 12.3%)
  • Milwaukie/Clackamas:   $381,000                  11.2%  (Jan: $373,200  /11.9%)
  • Oregon City/Canby:   $403,700                      11.7%  (Jan: $380,700 / 12.1%)
  • Lake Oswego/West Linn:    $661,500            16.5%  (Jan: $820,500 / 16.2%)
  • West Portland:    $527,400                              13.8%  (Jan: $571,900 / 13.8%)
  • NW Washington County:    $528,500             10.6%  (Jan: $482,100  / 10.4%)
  • Beaverton/Aloha:     $336,000                        12.5%  (Jan: $351,700 / 12.1%)
  • Tigard/Wilsonville:    429,400                           9.7%  (Jan: $413,200  /  9.2%)
  • Hillsboro/Forest Grove:    $367,500               14.5%  (Jan: $354,600 / 15.0%)

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On The Mortgage Front, Give a listen to one of my most trusted resources below:

Just as expected, the Federal Reserve Board (The Fed) last week raised the Federal Funds Rate at its Open Market Committee meeting, the second time in recent months.  Though this particular rate is not directly related to mortgage rates, it inevitably affects them since it is an expression of concern about inflation in the economy.  Surprisingly enough, unlike a few months ago, mortgage rates did not jump as expected after the rate hike.  However, this may be be the result of an external force pushing the market sideways:  sizable fund flows are going into the bond market in reaction to political turmoil in the nation’s capital.

Such large dollar flows into bonds (seeking safety from turmoil) reduce bond yields, keeping mortgage rates down.  For the moment anyway.  How long stable mortgage rates will last is anyone’s guess.

Home Buyers Beware:  The Fed has announced that further increases in the Federal Funds Rate are coming later in the year. This will inevitably increase pressure on mortgage rates, which are still–for the moment–at historical lows. But they are on the move:  rates on a 30 year Fixed Rate mortgage loan have risen about 3/4’s of one percent since last July.

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

© 2015 Finance of America LLC I  I  Equal Housing Lender   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  ~  March 13-19, 2017

Last Week in Portland (N, NE, SE & W):

***CDOM= Cumulative Days on the Market  (NOTE: Available stats missing some CDOM data.)

Here’s the Scoop on What Happened in Portland Last Week (all data derived from RMLS):

North Portland:
Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
11860 N Jantzen DR $125,000.00 $85,000.00 1 1 900 FLTHOME
6834 N MEARS ST $225,000.00 $200,000.00 1 1 504 DETACHD 121
8712 N DECATUR ST #203 $249,000.00 $225,000.00 1 1 630 CONDO 94
11650 N Island Cove LN $230,000.00 $233,500.00 1 1.1 1020 FLTHOME
3970 N Interstate AVE #201 $259,000.00 $259,000.00 1 1 757 CONDO 2
8356 N JOHNSWOOD DR $299,000.00 $297,000.00 4 2 1592 DETACHD 20
4076 N ATTU ST $329,500.00 $347,500.00 3 1 940 DETACHD 4
2403 N AINSWORTH ST $379,900.00 $379,900.00 2 1 1320 DETACHD 0
963 N Killingsworth CT #3 $385,000.00 $385,000.00 2 2.1 1039 CONDO
967 N Killingsworth CT #2 $385,000.00 $385,000.00 2 2.1 1039 CONDO
8100 N NEWMAN AVE $375,000.00 $400,000.00 3 2.1 1242 DETACHD 4
4775 N GIRARD ST $429,900.00 $435,200.00 3 2.1 1646 DETACHD 5
7434 N HAVEN AVE $439,000.00 $439,000.00 3 2 1684 DETACHD 6
7485 N Huron AVE $469,900.00 $469,900.00 3 2.1 1905 ATTACHD
9144 N SMITH ST $479,900.00 $479,900.00 3 2.1 1871 DETACHD 71
3126 N KILPATRICK ST $459,900.00 $482,000.00 4 2 2159 DETACHD 1
2134 N WILLAMETTE BLVD $525,000.00 $495,000.00 2 2.1 2249 DETACHD 40
7483 N Huron AVE $469,900.00 $500,000.00 3 2.1 1905 ATTACHD
6547 N BOSTON AVE $509,900.00 $509,900.00 3 2.1 1750 ATTACHD 104
6541 N BOSTON AVE $509,900.00 $509,900.00 3 2.1 1750 ATTACHD 104
6734 N VILLARD AVE $559,000.00 $550,000.00 3 2 1692 DETACHD 74
406 N ALBERTA ST $499,900.00 $595,000.00 3 3.1 1900 ATTACHD 12
410 N ALBERTA ST $499,900.00 $595,000.00 3 3.1 1900 ATTACHD 159
NE Portland:
Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
5200 NE 92ND AVE #23 $33,000 $31,500 3 2 924 IN-PARK 13
18202 NE EVERETT ST $215,000 $188,000 3 2 1320 DETACHD 21
8557 NE FREMONT ST $190,000 $211,050 2 1 1314 DETACHD 26
12531 NE GLISAN ST $249,900 $215,000 3 2 1992 DETACHD 131
8928 NE FLANDERS ST $199,000 $226,600 2 1 724 DETACHD 0
1027 NE 155TH AVE $250,000 $250,000 3 2 960 DETACHD 26
4820 NE PORTLAND HWY $285,000 $250,000 2 1 2414 DETACHD 113
14939 E BURNSIDE ST $260,000 $263,000 3 1 1857 DETACHD 8
19154 NE HOYT ST $259,000 $265,000 3 1 912 DETACHD 10
105 NE 143rd AVE #B $279,900 $265,000 2 1.1 800 CONDO
14020 NE GLISAN ST $269,900 $269,900 3 1 1442 DETACHD 28
8516 NE Milton ST $274,900 $274,900 2 1 624 DETACHD 25
2638 NE 137TH AVE $305,000 $285,000 3 1.1 1574 DETACHD 39
5811 NE 10TH AVE $299,000 $290,000 2 1 683 CONDO 21
2248 NE 154TH AVE $294,000 $294,000 2 2 1289 DETACHD 5
350 NE 140TH AVE $305,000 $304,000 3 2 1788 DETACHD 1
2403 NE 151ST AVE $349,900 $324,900 2 2 2456 DETACHD 61
13532 NE BRAZEE CT $319,900 $335,000 3 1 1306 DETACHD 5
3311 NE 158TH AVE $368,000 $337,000 4 2 2584 DETACHD 25
7020 NE CLACKAMAS ST $330,000 $340,000 2 1.1 2020 DETACHD 1
4809 NE 107TH AVE $350,000 $345,000 3 1 1560 DETACHD 2
820 NE SUMNER ST $370,000 $370,000 2 1 761 DETACHD 0
225 NE 86TH AVE $349,900 $370,000 2 1 1320 DETACHD 2
605 NE 114TH AVE $489,000 $399,000 4 3 3430 DETACHD 116
2014 NE ROSA PARKS WAY $339,000 $405,007 3 1 2296 DETACHD 6
4533 NE 83RD AVE $424,900 $414,000 3 1 2056 DETACHD 71
22 NE 78TH AVE $428,000 $428,000 3 2 1575 DETACHD 0
3242 NE 78TH AVE $420,000 $431,900 3 2.1 1686 DETACHD 8
3722 NE 80TH AVE $419,900 $455,000 3 2.1 1543 DETACHD 2
4624 NE 40TH AVE $525,000 $575,000 3 2 2480 DETACHD 5
2814 NE SKIDMORE ST $629,000 $580,000 4 1.2 3244 DETACHD 146
3147 NE 10TH AVE $584,950 $600,000 3 2 1797 DETACHD 6
1825 NE 53RD AVE $649,000 $651,000 3 2 1870 DETACHD 3
1724 NE 58TH AVE $659,900 $655,000 4 2 2428 DETACHD 5
6115 NE 34TH AVE $679,900 $679,900 3 2.1 2463 DETACHD 31
3312 NE HOLMAN ST $650,000 $680,000 3 2.1 2340 DETACHD 22
2817 NE 8TH AVE $700,000 $705,000 3 1.1 3638 DETACHD 4
1915 NE WASCO ST $725,000 $715,000 4 2 3056 DETACHD 21
2921 NE 31ST AVE $775,000 $770,000 4 2.1 2619 DETACHD 1
2517 NE 11TH AVE $848,500 $810,000 3 1.1 3102 DETACHD 112
SE Portland:
Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
17233 SE MILL ST $190,000 $155,000 $2 $1 $1,136 DETACHD $49
19153 SE YAMHILL ST #23 $181,500 $158,000 $2 $2 $1,079 CONDO $133
12285 SE MAIN ST $165,000 $165,000 $2 $1 $962 DETACHD $135
9036 SE DUKE ST $199,900 $185,000 $2 $1 $720 DETACHD $8
11840 SE MARKET ST/Main Lvl $219,900 $219,900 $4 $2 $1,548 CONDO $34
1716 SE 157TH AVE $239,900 $246,400 $3 $1 $964 DETACHD $3
10111 SE INSLEY ST $249,000 $249,000 $3 $1 $1,018 DETACHD $34
12227 SE MILL CT $259,900 $250,000 $3 $1 $1,259 DETACHD $50
2226 SE 142ND AVE $245,000 $250,000 $3 $2 $985 DETACHD $4
16811 SE FRANCIS ST $250,000 $250,000 $3 $1 $1,488 DETACHD $-
9305 SE MILL ST $259,500 $264,500 $2 $1 $1,076 DETACHD $121
5919 SE 134TH AVE $249,900 $265,000 $3 $2 $1,468 ATTACHD $4
16604 SE Main ST $279,900 $270,000 $3 $2 $1,377 DETACHD $13
7008 SE 74TH AVE $249,000 $276,675 $2 $1 $816 DETACHD $4
2937 SE WAVERLEIGH BLVD #7 $269,990 $277,000 $2 $1 $762 CONDO $4
3336 SE 84TH AVE $314,950 $280,000 $3 $2 $1,248 DETACHD $20
3635 SE 63RD AVE $299,000 $280,000 $2 $1 $1,994 DETACHD $49
3524 SE 159th AVE $279,000 $284,000 $4 $2 $2,080 DETACHD $2
7337 SE 69TH AVE $269,900 $285,000 $2 $1 $810 DETACHD $145
7123 SE 66TH AVE $297,000 $286,000 $3 $2 $1,859 DETACHD $16
8430 SE 88th AVE $290,000 $289,900 $3 $2 $1,405 DETACHD
8420 SE 88TH AVE $299,900 $300,400 $3 $2 $1,445 DETACHD $16
7405 SE 63RD AVE $349,899 $313,000 $4 $2 $1,608 DETACHD $27
15320 SE MAIN ST $334,000 $329,000 $4 $2 $2,731 DETACHD $15
11536 SE MADISON ST $265,000 $330,000 $3 $1 $1,712 DETACHD $4
5026 SE 75TH AVE $325,000 $341,000 $2 $1 $1,620 DETACHD $7
12479 SE SALMON CT $335,000 $347,500 $4 $2 $2,735 DETACHD $60
6825 SE 152ND AVE $349,000 $355,000 $3 $2 $1,294 DETACHD $3
4027 SE HENDERSON ST $369,900 $375,000 $2 $1 $712 DETACHD $95
6649 SE 69TH AVE $350,000 $375,000 $4 $2 $1,607 DETACHD $4
5515 SE MALL ST $325,000 $375,000 $3 $1 $2,080 DETACHD $1
3723 SE 130TH AVE $384,999 $384,999 $5 $3 $2,600 DETACHD $156
4220 SE YAMHILL ST $404,900 $385,000 $2 $1 $1,872 DETACHD $28
1304 SE ASH ST #E $375,000 $385,000 $2 $1 $1,120 CONDO $6
8036 SE 162ND AVE $445,000 $422,500 $3 $2 $1,700 DETACHD $68
2204 SE 70TH AVE $439,900 $435,000 $3 $2 $1,014 DETACHD $24
7007 SE HAROLD ST $435,000 $440,000 $4 $2 $2,808 DETACHD $5
5970 SE 23RD AVE $439,000 $479,000 $3 $2 $2,178 DETACHD $4
4443 SE KNAPP ST $549,900 $480,000 $3 $2 $2,524 DETACHD $88
3033 SE 19TH AVE $475,000 $495,000 $2 $1 $2,112 DETACHD $6
3640 SE CENTER ST $499,900 $505,000 $3 $2 $2,343 DETACHD $7
3626 SE BELMONT ST $490,000 $511,000 $3 $1 $2,383 DETACHD $5
1639 SE REX ST $489,900 $515,000 $3 $2 $1,662 DETACHD $4
4035 SE 34TH AVE $525,000 $542,500 $3 $2 $1,678 DETACHD $8
3228 SE 24TH AVE $549,900 $547,000 $3 $2 $2,238 DETACHD $67
231 SE 55TH AVE $675,000 $687,500 $3 $3 $2,154 DETACHD $7
3314 SE BROOKLYN ST $679,900 $690,000 $3 $2 $2,455 DETACHD $4
3135 SE 6TH AVE $924,900 $705,000 $4 $3 $4,103 DETACHD $257
3949 SE LAMBERT ST $749,900 $749,900 $4 $3 $2,467 DETACHD $137
2947 SE TIBBETTS ST $765,000 $759,000 $4 $3 $2,795 DETACHD $4
West Portland &     Raleigh Hills:
Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
4420 SW DICKINSON ST #45 $139,000 $148,000 1 1 664 CONDO 271
1234 SW 18TH AVE  #301 $229,000 $241,000 0 1 509 CONDO 10
6605 W BURNSIDE RD #133 $299,900 $280,000 2 2 1126 CONDO 246
1400 NW IRVING ST #606 $324,900 $316,000 1 1 619 CONDO 234
11299 SW CAPITOL HWY $327,000 $327,000 3 3 1501 ATTACHD 31
2020 NW 29TH AVE #1 $330,000 $337,500 2 1 771 CONDO 91
1125 NW 9TH AVE #211 $350,000 $340,000 1 1 692 CONDO 11
2646 SW RIDGE DR $365,000 $360,000 4 3 2700 DETACHD 44
5421 SW VACUNA ST $329,000 $377,000 3 1.1 1342 DETACHD 4
9007 SW 26TH AVE $369,900 $380,000 3 1 1752 DETACHD 6
5724 NE BEECH ST $380,000 $380,000 3 2.1 1405 DETACHD 0
1500 SW 11TH AVE #1402 $409,900 $395,000 2 2 722 CONDO 169
3660 SW BAIRD ST $399,900 $400,000 2 2.1 1575 CONDO 22
1075 NW NORTHRUP ST #419 $402,000 $402,000 1 1 735 CONDO 0
1075 NW NORTHRUP ST #420 $404,500 $404,750 1 1 723 CONDO 0
1075 NW NORTHRUP ST #421 $405,000 $405,000 1 1 723 CONDO 0
2135 SW WYNWOOD AVE $389,900 $405,000 3 2 1343 DETACHD 5
1075 NW NORTHRUP ST #418 $405,500 $405,500 1 1 728 CONDO 0
1075 NW NORTHRUP ST #402 $409,500 $409,000 1 1 727 CONDO 0
3570 SW RIVER PKWY #1307 $419,000 $410,000 1 1 889 CONDO 162
1075 NW NORTHRUP ST #304 $414,000 $418,560 1 1 786 CONDO 0
12020 SW PARK WAY $389,900 $425,000 3 2 1210 DETACHD 5
2052 NW VILLAGE CIR $449,000 $438,000 2 2.1 1747 CONDO 178
1075 NW NORTHRUP ST #313 $446,500 $446,500 1 1 859 CONDO 0
1410 NW KEARNEY ST #1017 $449,000 $455,000 1 1 1038 CONDO 0
11121 SW 45TH AVE $439,000 $460,000 3 2.1 1589 DETACHD 2
605 SW TRILLIUM CREEK TER $479,000 $475,000 3 2.1 2113 ATTACHD 14
1075 NW NORTHRUP ST #404 $474,500 $477,247 1 1 859 CONDO 0
420 NW 11TH AVE #1012 $489,000 $480,000 1 1 910 CONDO 23
5925 SW PENDLETON CT $509,000 $485,000 3 2 2376 DETACHD 33
1075 NW NORTHRUP ST #309 $499,000 $499,000 1 1 943 CONDO 0
2029 SW MOSS ST $470,000 $500,000 3 2 1948 DETACHD 12
420 NW 11TH AVE #911 $509,900 $509,900 1 1 947 CONDO 3
1075 NW NORTHRUP ST #401 $494,000 $510,712 1 1 727 CONDO 0
348 SW VERMONT ST $499,900 $515,000 3 2 1984 DETACHD 3
1075 NW NORTHRUP ST #616 $529,000 $529,000 1 1 977 CONDO 0
1075 NW NORTHRUP ST #106 $530,500 $530,500 0 1 1052 CONDO 180
3955 SW 58TH DR $545,000 $540,000 3 2 1954 DETACHD 0
1075 NW NORTHRUP ST #105 $546,000 $546,000 0 1 1068 CONDO 0
6332 SW BOUNDARY ST $549,900 $560,000 3 3 2427 DETACHD 136
1075 NW NORTHRUP ST #1316 $563,000 $572,487 1 1 977 CONDO 0
1075 NW NORTHRUP ST #1716 $583,000 $588,450 1 1 907 CONDO 0
949 NW OVERTON ST #1408 $585,000 $595,000 1 1 987 CONDO 3
1075 NW NORTHRUP ST #1816 $592,000 $596,580 1 1 907 CONDO 0
7447 SW Bellrose LN $599,950 $599,950 3 3 3061 DETACHD
2418 SW SEYMOUR DR $625,000 $625,000 3 3.1 2380 DETACHD 242
1075 NW NORTHRUP ST #712 $624,000 $625,745 1 2 1134 CONDO 0
1075 NW NORTHRUP ST #512 $626,500 $626,500 1 2 1135 CONDO 0
1075 NW NORTHRUP ST #320 $631,000 $633,192 2 2 1122 CONDO 0
1075 NW NORTHRUP ST #1112 $651,000 $651,000 1 2 1134 CONDO 0
1075 NW NORTHRUP ST #1212 $652,000 $652,565 1 2 1212 CONDO 0
1075 NW NORTHRUP ST #912 $652,000 $654,393 1 2 1135 CONDO 0
1075 NW NORTHRUP ST #812 $647,000 $656,555 1 2 1134 CONDO 0

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