Portland Oregon Real Estate Prices and Appreciation - June 2007
June 19th, 2007
While the overall market appreciation in the Portland metro area is showing roughly 10% growth when comparing 12-month averages to the year prior, that growth is somewhat spotty.
Lake Oswego, Gresham, Hillsboro, and Yamhill County are leading the charge with 13% or greater price appreciation, balancing out the lackluster results for West Portland (including downtown), Beaverton, Tigard, Tualatin, Wilsonville, and Sherwood–all well under the area average.
Here are year-to-date figures through May 31, 2007:
| Area | YTD Avg. Sale Price | YTD Median Sale Price | 12-Mo. Appreciation |
| Lake Oswego / West Linn | $550,400 | $462,500 | 13.3% |
| West Portland | $464,100 | $377,000 | 5.2% |
| NW Washington County | $399,600 | $369,000 | 6.1% |
| Tigard/Tualatin/ Sherwood/Wilsonville | $375,600 | $335,000 | 3.8% |
| Milwaukie / Clackamas | $345,000 | $307,700 | 11.2% |
| Oregon City / Canby | $320,300 | $299,900 | 9.1% |
| Northeast Portland | $312,900 | $274,500 | 9.4% |
| Hillsboro / Forest Grove | $298,100 | $270,000 | 13.1% |
| Beaverton / Aloha | $285,200 | $260,000 | 6.4% |
| Gresham / Troutdale | $282,400 | $260,000 | 16.3% |
| Southeast Portland | $281,700 | $248,000 | 11.5% |
| Yamhill County | $277,800 | $246,400 | 16.0% |
| North Portland | $264,000 | $248,500 | 11.5% |
| Columbia County | $251,200 | $239,000 | 14.3% |
Source: RMLS, June 2007.
Technorati Tags: Portland, Oregon, real estate, homes, housing, pricing, average, median, appreciation
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- Portland Real Estate Prices and Appreciation - September 2007
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Entry Filed under: Market Activity
4 Comments Add your own
1. JJ | June 22nd, 2007 at 10:19 am
How much does the price increase reflect buyers including the closing costs in the sale?
aka..I’ll give you $10,000 more in price, in exchange for $10,000 credit back towards closing costs.
2. Private | June 22nd, 2007 at 2:55 pm
There is a different between average (Arithmetic mean) and Median. Just one of the games that RMLS plays.
Another is the rolling 12-month vs. last 12-months statistical smoothing.
3. Ron | June 22nd, 2007 at 11:13 pm
JJ -
Providing concessions toward closing costs and rolling them into the financing have been relatively common over the past few years, but primarily in the first-time buyer market. With less 95% and 100% loan-to-value mortgages than in past years, I don’t believe they are artificially rising the tide in the Portland area.
4. JJ | July 2nd, 2007 at 10:32 am
I just wonder with that $5,000-$15,000 difference can do that. Depending on the mortgage company, closing can be up to $10,000 and any concessions (repairs etal) can be up to $5,000 with older homes.
The housing tracker website says that the appreciation hasn’t happened much in Porland, and inventory is up 52% since 12 months ago!
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