West Portland: November 2012

Northwest and Southwest Portland Stats & Review

Overall the West Portland market is a neutral real estate market.  On the buyer’s side interest rates are at all time lows and the average market time is still low at 117 days.  On the seller’s side overall inventory is low and average sales price percent change is up.  When the year to year price comparison is up significantly and the average sales price percent change is up from last year at this time I have to give it a current price trend rating of Appreciating.

West Portland’s Average Sales Price Percent Change is 4.2% ending November 2012 compared to West Portland’s Average Sales Price Percent Change ending November 2011 was -4.1% or an increase of 8.3% comparatively. 

Average Sales Price Percent Change is a good conservative indicator for determining if a market is appreciating or depreciating.  *This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (12/1/11- 11/30/12) and compares it to the rolling average sales price of the previous 12 months (12/1/10-11/30/11). 

West Portland, Oregon's Current Real Estate Climate When comparing November’s results this year, (2012) to last year (November 2011) here is what you will find:

The average homeowner's equity increased by $59,000 or  16.4% of value.
Average Sales Price in November 2012 was $419,000
Average Sales Price in November of 2011 was $360,000
Number of closed sales for the month of November was 192, up by 22%.
Number of closed sales for November 2011 was 158.
The November 2012 supply of homes stands at 4.1 months, down 41%.
November 2011 supply of homes was 6.9 months.

(The supply or inventory is how long it would take to sell off the current/available homes on the market at the current rate of sale.)

The time it takes on average from when a homeowner lists their home for sale to when a home has an accepted offer is 117 days.  This statistic is down by 14 days (The November 2011 Total Marketing Time ended at 131 days).

It's important to compare these statistics to the entire Portland Metropolitan area as a whole which includes all of the city of Portland as well as the surrounding suburbs. This will help you to determine how each area is performing.

City of Portland and All the Surrounding Suburbs Current Real Estate Climate:


The current Rolling Price Appreciation/Depreciation percent change is +3.2%, which is a 10% increase from -6.8% ending November 2011 .  The current year to year comparison average price change from (November 2011- November 2012) prices are up 7.7%.  With the Rolling Average Price increasing 10%, Average and Median Sales Price both substantially higher from last year, supply levels low at 4.2 months, demand up significantly, marketing time down to 101 days (135 days ending November 2011) I have to give it an overall market rating of Appreciating prices.  To establish trend you need to consider the very longer term such as rolling average sale price percent change from year to year but you also need to consider the immediate trend when compared to last year’s same month and in many cases even the previous few months of data.

*This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (12/1/11- 11/30/12) and compares it to the rolling average sales price of the previous 12 months (12/1/10-11/30/11).  In this case the rolling average over the last twelve months is $272,800 and the rolling average of the previous 12 months was $264,400.  You take the rolling average price difference and divide it by previous 12 month rolling average and you get +3.2%.

When comparing November’s results this year 2012 to last year (November 2011) here is what you will find:

The average homeowner's equity increased by $20,000 or 7.7% of value.
Average Sales Price in November 2012 was $279,400
Average Sales Price in November of 2011 was $259,400
Number of closed sales for the month of November 2012 was 1733
Number of closed sales for the month of November 2011 was 1521
The closed sales ratio reflected an increase of 212 or 14%

The November 2012 supply in the entire Portland Metro area stands at 4.2 months down 2 months from last year.
The November 2011 supply in the entire Portland Metro area was 6.2 months, which was down 4 months from November 2010’s 10.2 months.

The time it takes on average from when a homeowner lists their home to when a home has an accepted offer is 101 days, which is down 34 days from November 2011’s total market time of 135 days.

Portland Metro Real Estate data comes from the RMLS of Portland, which is the region’s local multiple listing source for real estate listings. If you would like to receive e-mailed reports simply let me know.

2012 Portland Area/Section Reports:

Portland & All Surrounding Suburbs Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Northwest and Southwest Portland Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Southeast Portland Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Northeast Portland Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
North Portland Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Beaverton/Aloha Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Hillsboro/Cornelius/Forest Grove Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Gresham/Troutdale/Corbett Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Milwaukie/Clackamas/Happy Valley Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Oregon City/Canby Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Lake Oswego/West Linn Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Tigard/Tualatin/Wilsonville Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
NW Washington County Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

For the most current Portland real estate market recap summary click here.
For the most current Portland real estate statistics summary click here.

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