Portland-Area Real Estate Market Activity - November 2007
The Portland-area real estate market appears to be holding its own, as November 2007 results reveal.
A slower sales pace than 2006 mean longer marketing times for home sellers. Homes sold in November averaged 67 days on the market. Between October and November, the housing inventory stayed flat at 8.3 months.
Nevertheless, prices continue to rise in most market areas, ever so slightly. On the whole, the 12-month average sale price appreciated 6.5% to $340,900, while the median rose 7.0% to $288,900 when compared to the 12-month period ending November 2006.
Below are year-to-date average and median sale prices, 12-month appreciation, and days on market*, sorted by market area:
| Area | YTD Avg. Sale Price | YTD Median Sale Price | 12-Mo. Appreciation | DOM |
| Lake Oswego / West Linn | $562,200 | $465,000 | 5.1% | 80 |
| West Portland | $464,000 | $379,700 | 3.4% | 60 |
| NW Washington County | $418,700 | $385,000 | 3.5% | 58 |
| Tigard / Tualatin / Sherwood / Wilsonville | $375,100 | $339,900 | 5.1% | 70 |
| Milwaukie / Clackamas | $336,500 | $300,000 | -3.6% | 77 |
| Oregon City / Canby | $331,300 | $303,000 | 3.6% | 78 |
| Northeast Portland | $321,800 | $283,000 | 6.5% | 52 |
| Hillsboro / Forest Grove | $298,700 | $270,000 | 7.5% | 63 |
| Beaverton / Aloha | $288,600 | $260,000 | 3.4% | 66 |
| Southeast Portland | $286,100 | $250,000 | 8.3% | 53 |
| Yamhill County | $281,600 | $247,500 | 7.4% | 101 |
| Gresham / Troutdale | $281,200 | $259,900 | 7.7% | 90 |
| North Portland | $266,800 | $253,500 | 9.0% | 60 |
| Columbia County | $255,400 | $240,000 | 12.5% | 87 |
Additional observations:
Year to date, the total number of home sales is down just 12% over the same period in 2006. The oversupply in Happy Valley continues to drag down the Milwaukie/Clackamas appreciation numbers. Yamhill County passes Southeast Portland in average sale price year to date.
*Days on market (DOM) or average market time may exhibit reporting inconsistencies and should be used to analyze trends only. Source: RMLS, December 2007.
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4 comments December 18th, 2007
