Portland, Oregon Residential Property Appreciation
Metro Portland Area |
Yr to date
Avg Price |
Avg Mkt Days |
Avg Appreciation |
| North Portland |
$271400 |
62 |
5.7% |
| NE Portland |
$351400 |
54 |
6.7% |
| SE Portland |
$292700 |
62 |
2.1% |
| Gresham / Troutdale |
$267400 |
87 |
-1.1% |
| Milwaukie / Clackamas |
$330000 |
72 |
-8.0% |
| Oregon City / Canby |
$330900 |
92 |
1.6% |
| Lake Oswego / West Linn |
$590800 |
74 |
4.3% |
| West Portland |
$503400 |
78 |
4.9% |
| NW Portland / Washington County |
$393800 |
79 |
2.7% |
| Beaverton / Aloha |
$282500 |
79 |
1.3% |
| Tigard / Wilsonville |
$391200 |
81 |
-0.6% |
| Hillsboro / Forest Grove |
$285900 |
85 |
-0.5% |
Data: July 21, 2008
Source: RMLS Area Report Metro Portland & Adjacent Regions
Dave's Commentary on the Portland Real Estate Market:
Portland's real estate market picked up over the last month in sales volume. This is in line with the hot spring selling season. Our current rate of sales in the Portland Metro area is at 62 homes closing per day. Not bad given the overall slowdown. Prices are down only 3.6% average!
While the latest numbers are not perfect for sellers we are experiencing fantastic purchase opportunities on the buying side. Short sales are up and bargain hunters are eager to snatch up a deal. Potentially saving over $100k off the peak prices of 2006.
On another note most are not paying much attention to the house affordability index. Two years ago we saw drastic changes to what the average household income would purchase in relation to home price. Based upon average income a family could not purchase the average priced home (80% down payment and conventional 30yr fixed rate financing). The trend is heading in an opposite direction. Portland's job market is once again paying wages that allow an increase in purchasing power. This is a sign of market correction and good sustainability!
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 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 Dave at (503) 789-7633, Toll Free (877) 629-5825 or email.
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