12-Month Portland Metro Appreciation Values
The Portland metro area continued its double-digit appreciation string by ending the year with a 15% gain in average sale prices from December 2004 to December 2005. The Oregonian reports today that the median (middlemost) price grew 20.6%.
Here are the 12-month appreciation averages for Portland metro communities:
- 24.8% - Tigard / Tualatin / Wilsonville
18.9% - Oregon City / Canby
18.1% - North Portland
17.0% - Hillsboro / Forest Grove
16.8% - Milwaukie / Clackamas
15.8% - Northeast Portland
14.6% - Southeast Portland
15.3% - Columbia County
14.5% - NW Washington County
14.5% - West Portland
13.6% - Beaverton / Aloha
13.6% - Lake Oswego / West Linn
12.9% - Gresham / Troutdale
12.1% - Yamhill County
With mortgage rates up some and ‘talk’ of a market slowdown, I’ve had a few prospective buyers defer on purchases, saying they wanted to wait for prices to come down.
Well, I say, “Homebuyers beware”. The bullish market does not appear to be diminishing and inventory is still low, therefore prices will continue to climb. Buying earlier than later will be to your benefit.
Note: Appreciation percentages are based on a comparison of average price from the last 12 months (01/01/05 - 12/31/05) with 12 months before (01/01/04 - 12/31/04).
Source: RMLS, December 2005.
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Add comment January 17th, 2006
