Portland Area Market Activity - March 2006
Through the first 3 months of 2006, some trends are starting to develop in the Portland area real estate market.
- The market has slowed compared to a year ago. Listings are up just 0.8% over 1st quarter of 2005, and the pace of sales has dropped (8.7% fewer accepted offers and 6.7% closed sales). March’s numbers were very telling, with significant drops in all categories.
- Inventory continues to be in short supply. The slow pace of sales has kept the market’s available supply right at 2 months.
- Appreciation is still very strong. The 12-month average sale price through March 2006 ($292,400) is up 16.4% and the median sale price ($245,000) is up 16.7% compared to the previous 12-month period.
The area continues to enjoy a favorable real estate climate, although for my part, I would like to see more available inventory on the market for those motivated buyers.
Portland Area Appreciation (sorted by average sale price):
| Area | YTD Average Sale Price | YTD Median Sale Price | 12-Month Appreciation |
| Lake Oswego / West Linn | $505,400 | $438,900 | 15.6% |
| West Portland | $426,500 | $350,500 | 13.8% |
| NW Washington County | $359,300 | $321,000 | 13.5% |
| Tigard/Tualatin/ Sherwood/Wilsonville | $344,700 | $314,000 | 27.1% |
| Milwaukie / Clackamas | $336,100 | $290,400 | 20.4% |
| Oregon City / Canby | $308,800 | $279,900 | 19.3% |
| Northeast Portland | $289,200 | $250,000 | 18.1% |
| Hillsboro / Forest Grove | $269,300 | $240,500 | 19.5% |
| Beaverton / Aloha | $271,800 | $247,100 | 15.6% |
| Southeast Portland | $248,800 | $219,500 | 15.9% |
| Gresham / Troutdale | $248,400 | $237,800 | 14.5% |
| Yamhill County | $241,000 | $213,200 | 18.6% |
| North Portland | $239,700 | $229,500 | 20.6% |
| Columbia County | $216,900 | $198,200 | 18.0% |
Source: RMLS, April 2006.
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2 comments April 14th, 2006
