Moving to Portland
October 2015 Newsletter


Shelli Gowdy
Real Estate Broker
Windermere Stellar
Susan Marthens
Principal Real Estate Broker
Windermere Stellar

Although October saw some cooling in the real estate market, pending sales increased over September's by 0.8%.  Closed sales, however, declined 9.7% from September.
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Market Action Reports 
The Market Action reports for the Portland metro area as well as all Oregon areas and Southwest Washington are also available to download. It also has the summary page for the October 2015 Portland metro area home prices.
October 2015 Real Estate Highlights
Real estate activity cooled slightly this October compared with September,
but all numbers were ahead of the same measures in October 2014.

Closed sales (2,717) were 9.2% ahead of the 2,487 closings recorded
in October 2014, although the number slipped 9.7% from the
3,010 closings recorded last month.

The below chart shows the numbers for September and October of this year along with the year-to-date stats.

Click on image  to enlarge.

Activity has been higher in 2015 than in 2014 across the board. Pending sales (30,453) are up 23.4%, closed sales (28,096) are up 20.6%, and new listings (36,966) are up 8.5% for the year thus far.
Above based on information from the RMLS™  Market Action report for October 2015.

Average & Median Sales Prices
Median Price for a Home in the Portland Metro Area $305,000 in September 2015.

Prices continue to rise in 2015 compared to 2014. Comparing each year through October, the average sale price rose 6.1% from $333,000 to $333,200. In the same comparison, the median sale price rose 7.0% from $285,000 to $305,000.

Click on image to enlarge.
Above based on information from the RMLS™  Market Action report for October 2015.

Sales Price Percent Change
Average Sales Price Percent Change 6.1% in October 2015

The Average Sale Price Percent Change is based on a comparison of the rolling average sale price for the last 12 months (11/1/2014 - 10/31/2015) with 12 months before (11/1/2013 - 10/31/2014).
  • Average Sales Price Percent Change: 6.1% ($350,000 v. $330,100)
  • Median Sales Price Percent Change:  6.7% ($303,000 v. $284,000)
Above based on information from the RMLS™  Market Action report for October 2015.

 Metro Inventory October 2015
Pending sales (2,996) fared 20.8% better than October 2014 (2,480).  New listings (3,063) similarly improved, ending 6.3% ahead of October 2014 (2,881) but 10.5% below September 2015 (3,424).

Inventory dropped  to 1.8 months in October. Total market time
remains at 46 days. There are currently a total of 5,021 active residential listings in the Portland metro area.
Above based on information from the RMLS™  Market Action report for October 2015.
Cost of Residential Homes by Community
Below is the chart that displays the October 2015 numbers by area or community. It includes the following:
  • Number of closed sales.
  • Average price of homes sold.
  • Year-to-date average price.
  • Year-to-date median price.
  • Average sales price percent change.

Click on image to enlarge or
click here to view the report (pdf).

Above based on information from the RMLS™  Market Action report for October 2015.

 Penrith Home Loans 
Penrith Home Loans  (PHL) Penrith was former called Windermere Mortgage Services, and  they changed their name in 2015. PHL is Northwest owned and operated and headquartered in Seattle with offices throughout Washington and Oregon.  PHL is a full service mortgage banker and direct lender - in addition, they have access to numerous other lenders which allows them to meet everyone's individual needs.
  • West Portland Contact:  Bertha Ferran, telephone (503) 464-9215. Address:WMS Series LLC/AT, West Portland Branch, 6400 SW Barnes Road, Suite 305, Portland, OR 97225.
  • East Portland Contact:  Tanya Elder, telephone (503) 497-5367. Address: WMS Series LLC/AT, Lloyd Tower Branch, 825 Northeast Multnomah Street, Suite 120, Portland, OR 97232.
  • Lake Oswego Contact:  Clayton Scott,  telephone (503) 497-5060. Address: WMS Series LLC/AT, Lake Oswego Branch, 220 "A" Avenue, Suite 200, Lake Oswego, OR 97034.
Monthly Weather Summary

Below is the National Weather Service
weather data for the month of October 2015. These readings are from the Portland airport. These readings are from the Portland airport.
  • Average Monthly Temperature for October 2015:  60.1  (5.2 degrees above normal of 54.9 degrees).
  • Warmest Day: 85 degrees on October 5-6. 
  • Coldest Day:  42 degrees on October 2, 27, and 30.
  • Most Rainfall in 24 Hours:  2.15 inches on October 30-31.
  • Rain Days: 0 days with thunderstorms, two days with heavy rain, and 12 days with light rain.
  • Clear/Cloudy Days for October 2015: Six fair days, 15 partly cloudy days, and 12 cloudy days.
  • Average Wind Speed for October 2015:  5.7 mph.
This is what the website had to say about the upcoming ski season:

"A Zeitgeist of sorts, it never fails: Right around this time of year, every year, tales of El Niņo-enduced record-setting snowfall and endless powder days for the ski season to come start to swirl, no matter how true those very same tales panned out to be for the season before it. To set the record straight, we tapped our OnTheSnow Mountain Meteorologist, Chris Tomer for his region-by-region predictions on what skiers and snowboarders can expect come winter.

El Niņo/La Niņa load the dice in certain ways, often encouraging the jet stream (storm track) to follow particular patterns. This winter, all indications support the influence of a moderate to strong El Niņo, and we generally know what kinds of regional precipitation and temperature effects that might bring.
For example, the biggest change this winter is for better odds of a wet, stormy winter in southern California and the desert Southwest. But, that doesn't automatically mean all of California will get pulled out of the drought. The odds also favor a wetter than normal winter along the Gulf Coast and Florida. While there really isn't a strong signal for the Northeast, the Ohio Valley has better odds for a dry, mild winter. 

The wildcard is the Pacific Northwest where the influence of El Niņo may get tempered by a pool of warmer than normal water off the coast. It's unusual. That warm pool of water nicknamed by local forecasters as "the blob" has kept the area abnormally warm and dry."
So Much for Slacker Paradise: Portland the 12th-Richest Metro Area
Bloomberg reports that the highest economic output per capita in the United States is -- where else? -- in the tech-heavy beating heart of Silicon Valley. The 2014 output per resident in San Jose, Calif., was $105,482, more than double the national average.

Contrary to stereotype of Portland as a hipster-slacker paradise, Oregon's biggest city came out smelling like roses in the Bureau of Economic Analysis numbers, too. Portland's gross metropolitan product per capita last year was $64,991. That's 12th highest out of the top 100 metro areas.

The top of the list is a who's who of "emerging tech hubs" from Seattle to Durham, N.C., Bloomberg pointed out.

"It's no surprise that these high-output cities also have some of the densest concentrations of educated workers, reflecting the soaring returns to schooling in today's job market," Bloomberg wrote. "Harvard University professor Edward Glaeser says the diverging fates of high-skilled and low-skilled regions has been one of the most significant trends in the U.S. economy as well as other developed economies over the last three decades."
Portland is benefiting from its relatively high (and growing) number of relatively educated workers, at least in these statistics.

The Oregon Blue Book Printed Since 1911
The Oregon Blue Book is the state's official almanac and fact book. It contains listings and functional descriptions of government agencies and educational institutions. It also features an almanac, maps, facts about Oregon history and elections, as well as information on the arts, media, and other cultural institutions in Oregon. 

The print version of the Blue Book is published during odd-numbered years as required by ORS177.120. The latest print version (2015-2016) is now available for sale at bookstores or you can order it online.  The Web version is updated regularly as information about changes becomes available.

The primary goal of the Blue Book is to help the citizens of Oregon understand and gain access to their government and related institutions. To accomplish this, the Blue Bookprovides thousands of Web links. But understanding requires more than just directories that list Web sites. Accordingly, the Blue Book is brimming with original content:
  •  Several resources, such as the EconomyGovernment Finance, and History sections, provide in-depth analysis to better place the Oregon experience in context.
  •  Dozens of state agency histories (see PDF example) show how state offices and functions have evolved since the first provisional government in the 1840s.
  •  Records retention schedules (see PDF example) describe the functions of state agency programs in concise, straightforward language to help make large and complex agencies a little easier to comprehend. 
Of course, the Oregon experience consists of much more than just understanding government. For a broader perspective, the Blue Book provides access to hundreds of Oregon art and culture organizations, newspapers, radio and television stations, and more. And the Oregon Topics section includes hundreds of links to subjects that cut across rigid organizational hierarchies.
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