April 2006 Portland Home Appreciation Report
Sunday, April 30th, 2006
Metro Portland Area |
Current Avg Price | Avg Mkt Days | Avg Appreciation |
| North Portland | $259800 | 27 | 21.6% |
| NE Portland | $304900 | 31 | 17.7% |
| SE Portland | $272200 | 35 | 17.0% |
| Gresham / Troutdale | $254000 | 47 | 14.7% |
| Milwaukie / Clackamas | $352200 | 55 | 21.4% |
| Oregon City / Canby | $332100 | 52 | 18.7% |
| Lake Oswego / West Linn | $495400 | 39 | 13.7% |
| West Portland | $468500 | 43 | 14.4% |
| NW Portland / Washington County | $413600 | 43 | 13.6% |
| Beaverton / Aloha | $277300 | 34 | 14.8% |
| Tigard / Wilsonville | $379300 | 37 | 27.5% |
| Hillsboro / Forest Grove | $279400 | 39 | 19.2% |
Data: April 30, 2006
Source: RMLS Area Report Metro Portland & Adjacent Regions
Dave’s Commentary on the Portland Real Estate Market:
In April 2006, the Portland real estate prices appreciated by an average of 16.8% over March 2005. Given our current rate of sales, our inventory will last for only 2.4 months. Though the market still appears to be tight, there’s some sign of the market entering a stablization phase. The number of closed and pending sales decreased 9.1% and 11.7% respectively as compared to the April 2005 data. Having said that, we do need to analyze this information carefully. 2005 was an exceptional year by any means in the history of our real estate market. Our April data is still phenonmenal by any standard.
Homes under the $500,000 mark are still selling super fast across the Portland Metro area. Much of the slower sign is coming from exclusive homes in the $650,000 and above range. 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.
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