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 (3,885) increased 3.4% from the 3,757 listed in August 2019, and decreased 8.3% from the 4,236 listed in July 2020.

Pending sales (3,697) increased 26.2% from the 2,929 offers accepted in August 2019, and increased 1.1% from the 3,656 offers accepted in July 2020.

Closed sales (3,149) increased 8.5% from the 2,901 closings in August 2019, and decreased 7.1% from the 3,391 closings in July 2020.

AVERAGE & MEDIAN SALE PRICES

Comparing 2020 to 2019 through August, the average sale price has increased 4.8% from $458,900 to $481,000. In the same comparison, the median sale price has increased 4.9% from $410,000 to $430,000.

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 Portland26$427,0003.6%
NE Portland31$445,0002.6%
SE Portland27$400,0004.7%
Gresham/Troutdale31$369,0002.3%
Milwaukie/Clackamas49$442,0004.9%
Oregon City/Canby44$439,8004.5%
Lake Oswego/West Linn71$629,00010.2%
W Portland72$540,0001.8%
NW Washington County31$515,0003.6%
Beaverton/Aloha28$410,0003.1%
Tigard/Wilsonville33$474,0005.7%
Hillsboro/Forest Grove33$404,0005.8%
Mt. Hood21$340,60014.1%
Columbia Co.49$336,2009.5%
Yamhill Co.65$369,90010.0%
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