Portland Real Estate Prices and Appreciation - August 2007
Across the Portland metro area, average and median prices for over the past 12 months were up 7.8% and 8.1% respectively over the previous 12-month period. Appreciation has been showing a gradual decline as inventory grows and prices soften. Results are still among the best in the nation, however.
Southeast Portland climbs above Gresham in average price, and now threatens to overtake Beaverton / Aloha to become the eighth-most expensive market area. Northeast and North Portland also show above-average gains month over month and have some of the shortest time on market statistics. The remainder of market areas remained virtually flat year-to-date with August’s sales report.
Below are average and median sale prices year-to-date, along with 12-month sale price appreciation by market area:
| Area | YTD Avg. Sale Price | YTD Median Sale Price | 12-Mo. Appreciation |
| Lake Oswego / West Linn | $559,200 | $465,000 | 6.3% |
| West Portland | $463,300 | $379,000 | 3.4% |
| NW Washington County | $418,800 | $385,000 | 2.0% |
| Tigard / Tualatin / Sherwood / Wilsonville | $379,600 | $340,500 | 4.4% |
| Milwaukie / Clackamas | $339,100 | $301,000 | 4.3% |
| Oregon City / Canby | $327,900 | $304,000 | 6.7% |
| Northeast Portland | $322,300 | $283,000 | 6.9% |
| Hillsboro / Forest Grove | $298,100 | $270,000 | 9.8% |
| Beaverton / Aloha | $290,700 | $262,500 | 3.6% |
| Southeast Portland | $289,100 | $251,700 | 10.8% |
| Gresham / Troutdale | $281,700 | $260,000 | 11.2% |
| Yamhill County* | inc. | inc. | inc. |
| North Portland | $266,200 | $253,100 | 8.6% |
| Columbia County | $254,000 | $239,900 | 14.9% |
*Yamhill County results are incomplete. Updates will be posted when available.
Appreciation percentages are based on a comparison of average price from the last 12 months (09/01/06 - 08/31/07) with 12 months before (09/01/05 - 08/31/06). Source: RMLS, September 2007.
Technorati Tags: Portland, Oregon, real estate, home, prices, housing, average, median, sale, appreciation
If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
3 comments September 19th, 2007
