November 2006 Portland Home Appreciation Report
Tuesday, October 31st, 2006
Metro Portland Area |
Current Avg Price | Avg Mkt Days | Avg Appreciation |
| North Portland | $245300 | 38 | 19.7% |
| NE Portland | $305700 | 36 | 16.9% |
| SE Portland | $272700 | 46 | 15.5% |
| Gresham / Troutdale | $273100 | 50 | 14.3% |
| Milwaukie / Clackamas | $377600 | 51 | 21.2% |
| Oregon City / Canby | $332100 | 51 | 17.8% |
| Lake Oswego / West Linn | $531800 | 53 | 18.2% |
| West Portland | $442700 | 51 | 11.4% |
| NW Portland / Washington County | $389300 | 36 | 10.7% |
| Beaverton / Aloha | $266000 | 37 | 14.2% |
| Tigard / Wilsonville | $349900 | 58 | 12.5% |
| Hillsboro / Forest Grove | $289700 | 38 | 15.6% |
Data: October 31, 2006
Source: RMLS Area Report Metro Portland & Adjacent Regions
Dave’s Commentary on the Portland Real Estate Market:
In October 2006, the Portland real estate prices appreciated by an average of another 15% over the same period last year. Our home supply, however, has gone up considerably. New listings are up 14.9%, closed sales dropped 12.6% and pending sales also dropped 12.6%. These are clear signs that our prices are going to stablize and giving buyers a break in rising prices. In fact, according to the National Association of Realtors, Portland homes are affordable again.
This certainly is great news to buyers. For one, there’re more homes to choose from without having to get into bidding wars like what we’ve seen the last 2 years. Interest rates are still at all time low, so buyers can get more home for the same buck.
Sellers finally recognized that they couldn’t continue to demand high prices without being one of the best homes in the neighborhood. How exactly should sellers move their homes then when the market seems to be cooling off? 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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Call us at 503-805-5173 (cell) or email us to see how we can help you with your home buying and selling needs.