Portland Real Estate Prices and Appreciation - September 2007
As noted yesterday, the Portland metro real estate market is seeing the highest inventory levels since 2001. But the impact on pricing has been gradual, making the Portland market a rare standout nationally for appreciation.
Continued declines should be expected, but for now, using a 12-month average and median compilation of home sales and comparing it with the previous 12 months, the market is showing a 6.9% average and 7.5% median growth in appreciation.
Gresham, Hillsboro, Southeast and North Portland are still showing decent appreciation gains when compared to the previous year (in the 8.8% to 9.8% range).
However, I am watching the cumulative year-to-date sale prices decline month-to-month in Lake Oswego / West Linn, West Portland (including downtown), and the south metro suburbs of Tigard, Sherwood, Tualatin, and Wilsonville.
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 | $557,300 | $465,000 | 3.7% |
| West Portland | $461,800 | $379,000 | 2.8% |
| NW Washington County | $417,500 | $385,000 | 1.8% |
| Tigard / Tualatin / Sherwood / Wilsonville | $377,100 | $340,000 | 4.6% |
| Milwaukie / Clackamas | $338,900 | $300,000 | 1.6% |
| Oregon City / Canby | $330,400 | $303,700 | 5.1% |
| Northeast Portland | $322,500 | $283,000 | 6.7% |
| Hillsboro / Forest Grove | $298,900 | $271,000 | 9.5% |
| Beaverton / Aloha | $290,500 | $262,500 | 3.6% |
| Southeast Portland | $287,200 | $250,000 | 9.8% |
| Gresham / Troutdale | $282,000 | $260,000 | 9.7% |
| Yamhill County | $280,900 | $250,000 | 8.4% |
| North Portland | $267,100 | $252,100 | 8.8% |
| Columbia County | $256,200 | $241,000 | 13.8% |
Appreciation percentages are based on a comparison of average price from the last 12 months (10/01/06 - 09/30/07) with 12 months before (10/01/05 - 09/30/06). Source: RMLS, October 2007.
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7 comments October 18th, 2007
