Now that the New Year has arrived, it’s time to take stock of the year that’s passed. 2016 sure felt like a good year in Real Estate, right? We saw story after story about rising home ownership rates and skyrocketing home values nationwide, a trend led by our own local market. And if that wasn’t enough, in September Beaverton and Portland both made Money Magazines coveted list of the best places to live in the country. Anecdotal evidence certainly points to this being a great year. But what do the numbers show?
RMLS Regional Data
Every year the Regional Multiple Listing Service – or RMLS – compiles market information for communities throughout the country and shares them with their members. Here are a few of the results for Oregon and Southwest Washington:
- All residential properties listed for sale: 75,331
- All residential properties sold: 59,203
- Median sold price of homes listed: $300,000
- Total dollar volume of homes sold: $20,234,723,000
Portland Metro Area Data
How did sales activity in the Portland Metro area fare in 2016? RMLS sums it up this way:
“Activity was cooler in 2016 than in 2015. Comparing all of 2016 to 2015, new listings (41,121) increased 0.7. Closed sales (32,798) decreased 1.5% and pending sales (33,234) decreased 3.9%.”
While activity was down a bit year over year, it didn’t have a negative effect on average and median sales prices. According to RMLS:
“Comparing 2016 to 2015 through December, the average sale price rose 11.4% from $354,500 to $395,000. In the same comparison, the median sale price rose 12.7% from $308,000 to $347,000.”
So in short, activity was down in the metro area from 2015 but home prices saw a big jump over the same period. That’s sure to make any area homeowner smile.
A Great Year for Us
One 2016 statistic popped out for us. 11,900 RMLS realtors sold 59,203 properties, which averages out to just under five properties sold per realtor. Here at Tienken and Associates RE/MAX equity group, our three brokers sold a combined 98 properties.
What will 2017 bring? Only time will tell. But if you anticipate buying or selling a home this year, please consider contacting us at (503) 495-3721 or by sending us a message. We know our market, we know the numbers, and we’d love to help you realize all your Real Estate goals.