Market Activity - Sale Price Averages and Appreciation
Portland area home prices continue to rise, but are no longer attached to rocket boosters. The 12-month average sale price is up 8.9%–the median is up 8.7%–a far more pedestrian pace than the 15 to 20% runups of two years ago.
The year-to-date average sale price for homes in the Portland metro area is now $340,400. Over half the homes sold over (or under) $288,900 (the median).
Market areas showing some recent pricing softness include North Portland, Gresham, Milwaukie/Clackamas, and Hillsboro. Their year-to-date average prices actually went negative when compared to last month. On the other hand, Southeast Portland and Lake Oswego/West Linn showed stronger-than-average gains over the previous month (Lake Oswego’s number can fluctuate greatly due to the impact of high-priced inventory).
Results below are for year-to-date through June 2007.
| Area | YTD Avg. Sale Price | YTD Median Sale Price | 12-Mo. Appreciation |
| Lake Oswego / West Linn | $564,900 | $470,000 | 12.6% |
| West Portland | $467,100 | $378,500 | 4.3% |
| NW Washington County | $405,000 | $375,000 | 4.5% |
| Tigard/Tualatin/ Sherwood/Wilsonville | $378,000 | $340,000 | 3.9% |
| Milwaukie / Clackamas | $344,700 | $305,600 | 10.3% |
| Oregon City / Canby | $323,400 | $300,000 | 6.5% |
| Northeast Portland | $314,500 | $277,300 | 7.7% |
| Hillsboro / Forest Grove | $297,200 | $270,000 | 11.7% |
| Beaverton / Aloha | $287,400 | $260,000 | 4.2% |
| Gresham / Troutdale | $281,800 | $260,000 | 13.4% |
| Southeast Portland | $285,100 | $250,000 | 10.6% |
| Yamhill County | $277,100 | $250,000 | 11.8% |
| North Portland | $263,700 | $249,900 | 10.4% |
| Columbia County | $254,100 | $240,000 | 15.9% |
Appreciation percentages are based on a comparison of average price from the last 12 months (07/01/06 - 06/30/07) with 12 months before (07/01/05 - 06/30/06).
Source: RMLS, July 2007.
If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
1 comment July 19th, 2007
