September 2006 Portland Home Appreciation Report
Metro Portland Area |
Current Avg Price | Avg Mkt Days | Avg Appreciation |
| North Portland | $243400 | 32 | 21.4% |
| NE Portland | $308700 | 32 | 17.3% |
| SE Portland | $264500 | 30 | 16.6% |
| Gresham / Troutdale | $287700 | 38 | 13.9% |
| Milwaukie / Clackamas | $367800 | 49 | 19.7% |
| Oregon City / Canby | $316900 | 46 | 16.4% |
| Lake Oswego / West Linn | $575700 | 47 | 18.9% |
| West Portland | $433100 | 38 | 12.0% |
| NW Portland / Washington County | $440100 | 37 | 14.9% |
| Beaverton / Aloha | $272400 | 25 | 16.3% |
| Tigard / Wilsonville | $361300 | 46 | 20.8% |
| Hillsboro / Forest Grove | $293500 | 38 | 18.6% |
Data: August 31, 2006
Source: RMLS Area Report Metro Portland & Adjacent Regions
Commentary on the Portland Real Estate Market:
In August 2006, the Portland real estate prices appreciated by an average of another 16.4% over last year. This is despite the fact that the number of new listings increased 9.6%. Both closed and pending sales decreased by about 20% respectively.
These are clear signs that the Portland real estate market is changing towards a buyer’s market. Still, the table hasn’t turned completely. It’s a slow process since homes are still moving. However, buyers definitely have more choices in the current market. This is particularly true in the upper price range of aboce $650,000 market. The below $400,000 market continues to show signs of strength.
This certainly is good news to buyers. In the past years, buyers have to battled through multiple offers and competing deals. Now that more homes are available for selection, sellers are beginning to make more concessions. We’re reaching more of a balanced housing economy.
How exactly should seller’s move their homes then when the market seems to be cooling off somewhat then? Call us and find out. We have specific strategies to guide sellers how to make their homes appealing to buyers.
To search for your home in anywhere in the Metro Portland area, use our FREE Exclusive 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 Buyer Services that could be worth over $1,200 and it’s completely FREE to you. Contact Max now. Make informed decisions; make smart choices. Call Max now at (503) 805-5173 or Toll Free (877) 629-5825 ext. 7.
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