March 2007 Portland Home Appreciation Report
Saturday, March 31st, 2007
Metro Portland Area |
Yr to date
Avg Price |
Avg Mkt Days | Avg Appreciation |
| North Portland | $256400 | 54 | 13.9% |
| NE Portland | $308300 | 54 | 11.5% |
| SE Portland | $293500 | 51 | 14.7% |
| Gresham / Troutdale | $284900 | 75 | 14.6% |
| Milwaukie / Clackamas | $340000 | 64 | 15.5% |
| Oregon City / Canby | $312100 | 77 | 12.2% |
| Lake Oswego / West Linn | $523900 | 72 | 13.1% |
| West Portland | $468400 | 65 | 8.2% |
| NW Portland / Washington County | $435200 | 62 | 8.4% |
| Beaverton / Aloha | $295100 | 78 | 9.7% |
| Tigard / Wilsonville | $376900 | 58 | 6.2% |
| Hillsboro / Forest Grove | $301800 | 70 | 14.5% |
Data: March 31, 2007
Source: RMLS Area Report Metro Portland & Adjacent Regions
Commentary on the Portland Real Estate Market:
The Portland real estate market in March 2007 grew another 12.2% for from the same period in March last year. This follows the similar trend we’ve seen in the last few months. We’re still seeing some healthy appreciation overall. However, here’s a cautious note: the number of new listings went up by 24% and closed sales declined by almost 10%. Undoubtedly, price increase is going to slow down in light of the increased inventory. Having said that, the Portland real estate is still stellar as compared to the national average at 2.9%.
Despite our cautious tone, we still estimate that the 2007 real estate market will continue to be strong for Portland. We are projecting a growth rate at around 11% throughout the year instead of the 17% of the last few years. Call us and find out more about the Portland real estate market. We have specific strategies to guide both buyers and sellers.
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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