March 2006 Portland Home Appreciation Report
Friday, March 31st, 2006
Metro Portland Area |
Current Avg Price | Avg Mkt Days | Avg Appreciation |
| North Portland | $246,900 | 35 | 20.6% |
| NE Portland | $293,500 | 38 | 18.1% |
| SE Portland | $248,700 | 39 | 15.9% |
| Gresham / Troutdale | $252,600 | 49 | 14.5% |
| Milwaukie / Clackamas | $352,900 | 60 | 20.4% |
| Oregon City / Canby | $308,600 | 43 | 19.3% |
| Lake Oswego / West Linn | $506,300 | 47 | 15.6% |
| West Portland | $417,400 | 43 | 13.8% |
| NW Portland / Washington County | $382,600 | 42 | 13.5% |
| Beaverton / Aloha | $276,300 | 39 | 15.6% |
| Tigard / Wilsonville | $360,700 | 41 | 27.1% |
| Hillsboro / Forest Grove | $272,600 | 45 | 19.5% |
Data: March 31, 2006
Source: RMLS Area Report Metro Portland & Adjacent Regions
Commentary on the Portland Real Estate Market:
In March 2006, the Portland real estate prices appreciated by an average of 16.4% over March 2005. Given our current rate of sales, our inventory will last for only 2 months. This, as compared to the Feb 2006 data of 2.7 months, our market appears to be still tight.
Given the number of new constructions in the market, the number of closed sales, as compared to the same period in 2005, decreased 6.7% while the number of new listings increased just a slight 0.8%. Though there seems to be some indication of relief in rising housing prices, the summer months ahead of us will bring in more buyers fighting for homes. As mortgage interest rates rise, more home shoppers will also be more inclined to find homes as soon as possible. The outlook of our real estate market in Portland remains strong.
To search for your home in anywhere in the Metro Portland area, use our FREE Portland Home Search tool. For more information about living in Portland and finding your dream home, call Max at (503) 805-5173, Toll Free (877) 629-5825 or email.
Learn about our Exclusive VIP Portland Buyer Services that could be worth over $1,200 and it’s completely FREE to you. Contact Dave now. Make informed decisions; make smart choices. Call Max now at (503) 805-5173 or Toll Free (877) 629-5825 ext. 7.
Relocating to Portland, Oregon? Let us help with your Portland Relocation.
Call us at 503-805-5173 (cell) or email us to see how we can help you with your Portland home buying and selling needs.