Hello 2019!!! Every year we get to take a look at how the numbers shook out for the prior year by digging into the December report, 1st through the 31st. The winter/holiday months always bring some cooling, and we also get to look at full year-to-year comparisons at this juncture.
Here is your look at the most recent data for the entire Portland area (Dec) as well as YTD numbers and how Lake Oswego fits in to the picture just below.
According to the RMLS Market Action Report for Portland Metro Area, December 2018:
– There were 1,255 New Listings in December 2018 which was down 21.4% from December of 2017’s 1,617, and also down 45.7% from the previous month/Nov of 2018’s total of 2,310.
- ***New Listings for the entire year were: 41,287, an increase of 1.2% over 2017.
– At 1,846, December Closed Sales cooled 21.4% from December 2017’s 2,350, and also 13.9 % from the previous month/Nov 2018’s total of 2,144. ***This is the coolest December for Closed Sales since 2013 when the total was 1,821.
- ***Closed Sales for the entire year were: 29,771, a decrease of 5.9% from 2017.
-December’s Pending Sales (accepted offers), at 1,599 are down 9.0% down from December of 2017’s 1,757, and 16.0% from the previous month/Nov 2018’s total of 1,904.
- ***Pending Sales for the entire year were: 29,809, a decrease of 4.9% from 2017.
-The Average Sale Price in December of $438,600 was up $16,900 from last year/December 2017’s $421,700, and down from the previous month/Nov 2018’s $448,900 by $10,300.
- ***YTD Average Sale Price for the entire year was: $452,400 up 5.5% from $428,700 in Dec 2017.
-I am including Median Sale Price in 2019. So, for reference, when we do this again next year, the Median Sale Price (price smack dab in the middle) in December 2018 was: $390,000. Up from $380,000 in Dec 2017.
- ***YTD Median Sale Price for the entire year was: $400,000, up 5.3% from 2017’s $379,900.
Neighborhoods: December’s Average Sale Price + 12-month Appreciation :
- North Portland: $388,700 4.3% (Nov 412,500/Dec ’17: 400,500, 5.9%)
- YTD Median: $400,000
- NE Portland: $450,600 4.0% (Nov 453,100/Dec ’17: 430,000, 8.1%)
- YTD Median: $415,000
- SE Portland: $425,900 5.9% (Nov 425,200/Dec ’17: 382,200, 8.7%)
- YTD Median: $375,000
- Gresham/Troutdale: $338,500 7.7% (Nov 361,600/Dec ’17: 329,600,10.4%)
- YTD Median: $340,000
- Milwaukie/Clackamas: $427,500 4.6% (Nov 443,400/Dec ’17: 411,500, 9.1%)
- YTD Median: $400,000
- Oregon City/Canby: $428,600 7.1% (Nov 427,200/Dec ’17: 402,100, 7.2%)
- YTD Median: $392,500
- Lake Oswego/West Linn:$636,300 .6% (Nov 728,500/Dec ’17: 662,700, 9.5%)
- YTD Median: $580,000
- West Portland: $588,800 3.8% (Nov 601,000/Dec ’17: 612,700, 3.2%)
- YTD Median: $519,000
- NW Wash County: $483,400 2.5% (Nov 511,700/Dec ’17: 534,400, 7.7%)
- YTD Median: $520,000
- Beaverton/Aloha: $381,600 8.6% (Nov 397,200/Dec ’17: 363,200, 9.2%)
- YTD Median: $375,000
- Tigard/Wilsonville: $459,600 6.3% (Nov 482,000/Dec ’17: 435,700, 7.7%)
- YTD Median: $430,000
- Hillsboro/Forest Grove: $382,100 5.9% (Nov 381,300/Dec ’17: 366,800, 11.0%)
LAKE OSWEGO:
The combined areas of Lake Oswego and West Linn for the month of December 2018 reported:
-
- 296 Active Listings (Nov 390 / Dec ’17: 288)
- 115 New Listings (Nov 115 / Dec ’17: 80)
- 91 Pending Sales (Nov 91 / Dec ’17: 92)
- 75 Closed Sales (Nov 75 / Dec ’17: 98)
- Average Sale Price for November: $636,300 (Nov 728,500 / Dec ’17: 662,700)
- NOTE: Higher-Priced vs Lower-Priced Homes Sales can skew the “Average” in any given month. Lake Oswego has quite a variety, so this tends to be a less meaningful stat, generally speaking, in this niche.
- FYI, YTD Median: $580,000
- 76 Average Days on the Market (Oct 61 / Dec ’17: 73)