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, at 2,759, increased 12.9% from February 2019 (2,444) and rose 0.2% from January 2020 (2,754).

Pending sales (2,598) increased 17.7% over the 2,208 offers accepted in February 2019, and rose 14.4% from the 2,271 offers accepted last month in January 2020.

Closed sales (1,897) rose 9.9% from the 1,726 closings recorded last year in February 2019 and increased 14.1% compared with the 1,663 closings recorded last month in January 2020.

AVERAGE & MEDIAN SALE PRICES

Comparing 2020 to 2019 through February, the average sale price has increased 5.0% from $438,200 to $460,200. In the same comparison, the median sale price has increased 3.7% from $393,000 to $407,500.

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 Portland47$385,0000.8%
NE Portland64$410,0002.5%
SE Portland69$370,2001.1%
Gresham/Troutdale74$356,0005.4%
Milwaukie/Clackamas67$424,000
4.3%
Oregon City/Canby75$433,6004.8%
Lake Oswego/West Linn86$585,0002.8%
W Portland95$510,000-1.8%
NW Washington County61$460,000-1.2%
Beaverton/Aloha59$400,0002.6%
Tigard/Wilsonville49 $455,0000.9%
Hillsboro/Forest Grove50$394,3005.8%
Mt. Hood123$315,0005.4%
Columbia Co.81$317,5007.1%
Yamhill Co.75$355,0004.4%
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