June 2009 Portland Home Appreciation Report
Metro Portland Area |
Yr to date
Avg Price |
Avg Mkt Days | Avg Appreciation |
| North Portland | $234500 | 113 | -5.1% |
| NE Portland | $297100 | 107 | -3.0% |
| SE Portland | $240800 | 127 | -6.2% |
| Gresham / Troutdale | $228200 | 167 | -9.1% |
| Milwaukie / Clackamas | $296300 | 185 | -8.2% |
| Oregon City / Canby | $299800 | 147 | -9.0% |
| Lake Oswego / West Linn | $484400 | 178 | -9.1% |
| West Portland | $446000 | 135 | -2.6% |
| NW Portland / Washington County | $363000 | 126 | -5.8% |
| Beaverton / Aloha | $249000 | 145 | -6.6% |
| Tigard / Wilsonville | $320700 | 158 | -8.0% |
| Hillsboro / Forest Grove | $245500 | 165 | -9.6% |
Data: June 8, 2009
Source: RMLS Area Report Metro Portland & Adjacent Regions
Dave’s Commentary on the Portland Real Estate Market:
RMLS numbers reflect a reduction in Portland’s housing inventory. We’re down to an 11 month supply for April’s final figures. This is a good sign that the market is starting to improve. Typically the amount of homes for sale rises in spring as do the number of closed sales. A reduction in overall inventory means that buyers are purchasing at a faster rate than homes are being listed for sale.
Working with buyers provides me an opportunity to interact with listing agents when out showing homes. I always ask other agents what their offices are seeing and what that person’s take on the market is. Lately it’s all been the same. Business is up!
Comments vary across the range of course but the majority of agents I’ve spoken with are raving about the amount of buyers they’re currently working with. While May’s inventory numbers are not out yet it’s exciting to anticipate. My guess is that it’ll be down even more, showing more market improvement.
RMLS data shows dwindling appreciation figures so keep in mind that these are a reflection of activity 3 -6 month’s ago. Forecasts are still fairly abundant that late 3rd quarter/early 4th will show we’ve reached a plateau. By the time the media starts reporting on such buyers will start seeing sellers being less desperate.
Dave’s prediction; We’re getting very close to bottoming out or may have already done so. Buyers closing in 2009 will reap huge benefits 5 years from now. Fence sitters need to make their move.
Call us and find out more about the Portland real estate market. We have specific strategies to guide both buyers and sellers. Find YOUR HOME WORTH now.
To search for your home 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 Dave at (503) 789-7633, Toll Free (877) 629-5825 or email.
Learn about our Exclusive VIP Portland Buyer Services. Contact Dave now. Make informed decisions; make smart choices. Call Dave now at (503) 789-7633 or Toll Free (877) 629-5825 ext. 7.
Relocating to Portland, Oregon? Let us help with your Portland Relocation.
Call us at 503-789-7633 (cell) or email us to see how we can help you with your Portland home buying and selling needs.
Tags: home appreciation report, market, portland