Oregon Home Price Appreciation Leads Nation
November 28th, 2006
CNN/Money reports that Oregon’s three largest metropolitan real estate markets, Salem, Portland, and Eugene, all easily outperformed national averages for 1-year appreciation gains. In fact, Salem tops the nation with a gaudy 24.7% increase over Q3 of 2005, according to the National Association of Realtors study.
Portland and Eugene ranked 15th and 16th respectively, hovering in the mid-12 percent range. Seattle and Spokane also registered healthy gains for the period.
Across the U.S. home appreciation is down 1.2% over Q3 of 2005. The Northeast really took it in the shorts at -4.8%. The Western U.S. was down about a point. Interestingly, of 148 major metro areas, 102 actually had price gains, while only 45 had decreases.
Detroit, other rust-belt markets and a handful of Florida communities registered 9 and 10 percent losses over 2005.
Below are the 3rd quarter numbers for the top 25 metro markets, including median home price in thousands and appreciation gains, as compiled by the National Association of Realtors.
| Metro Area* |
State
|
Median Price (000s) | % Change (1-yr) |
| Salem |
OR
|
228.0
|
24.7%
|
| Elmira |
NY
|
93.6
|
21.4%
|
| Salt Lake City |
UT
|
216.3
|
19.2%
|
| Virginia Beach-Norfolk-Newport News |
VA-NC
|
243.8
|
16.9%
|
| Gainesville |
FL
|
215.2
|
15.9%
|
| Gulfport-Biloxi |
MS
|
154.4
|
15.7%
|
| Wichita |
KS
|
127.9
|
15.0%
|
| Seattle-Tacoma-Bellevue |
WA
|
372.4
|
14.6%
|
| El Paso |
TX
|
129.9
|
14.3%
|
| Baton Rouge |
LA
|
178.4
|
14.1%
|
| Spokane |
WA
|
191.1
|
14.1%
|
| Beaumont-Port Arthur |
TX
|
117.1
|
12.9%
|
| Farmington |
NM
|
176.2
|
12.9%
|
| Durham |
NC
|
176.0
|
12.5%
|
| Eugene-Springfield |
OR
|
234.8
|
12.4%
|
| Portland-Vancouver-Beaverton |
OR-WA
|
285.0
|
12.3%
|
| Atlantic City |
NJ
|
277.2
|
12.0%
|
| Cumberland |
MD-WV
|
100.9
|
11.9%
|
| Albuquerque |
NM
|
191.1
|
11.9%
|
| Dover |
DE
|
214.8
|
10.6%
|
| Binghamton |
NY
|
107.4
|
10.0%
|
| Tulsa |
OK
|
134.9
|
9.6%
|
| Tampa-St.Petersburg-Clearwater |
FL
|
234.0
|
9.6%
|
| Jackson |
MS
|
148.7
|
8.9%
|
| Amarillo |
TX
|
120.8
|
8.7%
|
Technorati Tags: home, price, appreciation, NAR, Realtors, median
Photo by webel. Used under Creative Commons license.
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Entry Filed under: Market Activity, National News
3 Comments Add your own
1. Pierres Service » B&hellip | November 28th, 2006 at 5:55 pm
[...] Across the US home appreciation is down 1.2% over Q3 of 2005. The Northeast really took it in the shorts at -4.8%. The Western US was down about a point. Interestingly, of 148 major metro areas, 102 actually had price gains, …Read more: here [...]
2. » From Ron AresR&hellip | December 5th, 2006 at 1:49 pm
[...] CNN/Money reports that Oregon’s three largest metropolitan real estate markets, Salem, Portland, and Eugene, all easily outperformed national averages for 1-year appreciation gains. In fact, Salem tops the nation with a gaudy 24.7% increase over Q3 of 2005, according to the National Association of Realtors study. Portland and Eugene ranked 15th and 16th respectively, hovering in […] Read more… [...]
3. re:PDX - Portland Oregon &hellip | March 15th, 2007 at 2:20 pm
[...] lists are fun and in past posts, I’ve touched on home price appreciation, inbound migration, PDX as a leading travel destination, and our dog-friendliness. To get caught [...]
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