October 2006 Portland Home Appreciation Report
Saturday, September 30th, 2006
Metro Portland Area |
Current Avg Price | Avg Mkt Days | Avg Appreciation |
| North Portland | $241800 | 33 | 21.3% |
| NE Portland | $292500 | 35 | 16.8% |
| SE Portland | $274600 | 33 | 15.8% |
| Gresham / Troutdale | $277600 | 49 | 14.2% |
| Milwaukie / Clackamas | $375300 | 48 | 20.0% |
| Oregon City / Canby | $346300 | 40 | 16.3% |
| Lake Oswego / West Linn | $596600 | 54 | 18.3% |
| West Portland | $440300 | 44 | 12.1% |
| NW Portland / Washington County | $410500 | 40 | 12.2% |
| Beaverton / Aloha | $271900 | 30 | 15.1% |
| Tigard / Wilsonville | $374100 | 47 | 15.4% |
| Hillsboro / Forest Grove | $288900 | 34 | 16.7% |
Data: September 30, 2006
Source: RMLS Area Report Metro Portland & Adjacent Regions
Dave’s Commentary on the Portland Real Estate Market:
In September 2006, the Portland real estate prices appreciated by an average of another 15.4% over the same period last year. Our home supply, however, has gone up considerably. New listings are up over 14%, closed sales dropped almost 25% and pending sales also dropped close to 19%. These are clear signs that our prices are going to stablize and giving buyers a break in rising prices.
Having said that, the table hasn’t turned completely to a buyer’s market quite yet. 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.
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 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.
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