How’s The Market?

Here are the most recent numbers from the Regional Multiple Listing Service’s “Market Action” report that comes out mid-monthly and is e-mailed to all member Realtors®. This is data specific to our market, and drills down into particular cities and neighborhoods so it’s much more accurate than the national and regional reports you find in most media reports.

RESIDENTIAL HIGHLIGHTS

New listings (3,419) decreased 30.3% from the 4,902 listed in May 2019, and increased 20.1% from the 2,847 listed in April 2020.

Pending sales (3,112) decreased 5.5% from the 3,292 offers accepted in May 2019, and increased 52.5% from the 2,041 offers accepted in April 2020.

Closed sales (1,963) decreased 33.9% from the 2,969 closings in May 2019, and decreased 2.6% from the 2,015 closings in April 2020.

AVERAGE & MEDIAN SALE PRICES

Comparing 2020 to 2019 through May, the average sale price has increased 2.8% from $452,700 to $465,600. In the same comparison, the median sale price has increased 4.1% from $402,400 to $419,000.

SPECIFIC CITIES & NEIGHBORHOODS

Below is a table with data for specific areas. Note that Appreciation is based on a comparison of the rolling average sale price for the last 12 months with the 12 months prior. Days on Market is the number of days from when a property is listed until an offer is accepted on that same property. If a property is re-listed within 31 days, DOM continues to accrue; however, it does not include the time that it was off the market.

AreaDays on MarketMedian Sales PriceAppreciation
N Portland29$410,0001.9%
NE Portland27$429,9002.9%
SE Portland34$389,5001.3%
Gresham/Troutdale32$360,0002.3%
Milwaukie/Clackamas47$429,9003.8%
Oregon City/Canby47$431,7003.5%
Lake Oswego/West Linn59$604,5004.1%
W Portland56$536,000-1.3%
NW Washington County27$492,0000.8%
Beaverton/Aloha24$410,0002.9%
Tigard/Wilsonville30$460,0002.7%
Hillsboro/Forest Grove29$394,0005.9%
Mt. Hood73$325,0007.8%
Columbia Co.55$331,0007.6%
Yamhill Co.53$365,0006.2%
Bookmark and Share