January 2006 Portland Home Appreciation Report
Tuesday, January 31st, 2006
Metro Portland Area |
Current Avg Price | Avg Mkt Days | Avg Appreciation |
| North Portland | $238,600 | 39 | 18.90% |
| NE Portland | $275,100 | 36 | 16.00% |
| SE Portland | $230,500 | 39 | 14.40% |
| Gresham / Troutdale | $243,400 | 47 | 12.90% |
| Milwaukie / Clackamas | $319,800 | 49 | 16.80% |
| Oregon City / Canby | $313,700 | 50 | 18.90% |
| Lake Oswego / West Linn | $542,100 | 51 | 15.80% |
| West Portland | $428,800 | 51 | 14.30% |
| NW Portland / Washington County | $319,200 | 24 | 13.60% |
| Beaverton / Aloha | $258,100 | 34 | 13.90% |
| Tigard / Wilsonville | $330,700 | 40 | 25.00% |
| Hillsboro / Forest Grove | $278,700 | 49 | 17.40% |
Data: January 31, 2006
Source: RMLS Area Report Metro Portland & Adjacent Regions
Commentary on the Portland Real Estate Market:
2006 opens the Portland real estate season with a whopping 16.8% average appreciation as compared to the same month last year. The median sale price increased by 18.9%. These figures are indicative of another year of high growth in the Portland area. And, January is typically a slower month for real estate activities. To hit such high appreciation rate, our real estate market is absolutely phenomenal.
County wise, the highest growth came from both the Clackamas and the Washington counties. The growth rates are 16.5% and 16.7% respectively. Given the faster economic growth and the high number of companies located in these two counties, this growth rate is to be expected.
At the end of January 2006, there were over 5,500 active residential listings on the market pushing the inventory ratio to a higher 3.2 months. As compared to the previous months of inventory on hand, this appears to be a bit higher. Having said that, given that January is typically a slower month for real estate, this number should decrease dramatically over the next couple of months to create another tight market.
Our January market signals a good sign for both home owners and investors alike. There’s been so much talk in the last few months about a real estate bubble. Our January result continues to show a strong sign of growth.
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