12-Month Portland Metro Appreciation Values

The Portland metro area continued its double-digit appreciation string by ending the year with a 15% gain in average sale prices from December 2004 to December 2005. The Oregonian reports today that the median (middlemost) price grew 20.6%.

Here are the 12-month appreciation averages for Portland metro communities:

    24.8% – Tigard / Tualatin / Wilsonville
    18.9% – Oregon City / Canby
    18.1% – North Portland
    17.0% – Hillsboro / Forest Grove
    16.8% – Milwaukie / Clackamas
    15.8% – Northeast Portland
    14.6% – Southeast Portland
    15.3% – Columbia County
    14.5% – NW Washington County
    14.5% – West Portland
    13.6% – Beaverton / Aloha
    13.6% – Lake Oswego / West Linn
    12.9% – Gresham / Troutdale
    12.1% – Yamhill County

With mortgage rates up some and ‘talk’ of a market slowdown, I’ve had a few prospective buyers defer on purchases, saying they wanted to wait for prices to come down.

Well, I say, “Homebuyers beware”. The bullish market does not appear to be diminishing and inventory is still low, therefore prices will continue to climb. Buying earlier than later will be to your benefit.

Note: Appreciation percentages are based on a comparison of average price from the last 12 months (01/01/05 – 12/31/05) with 12 months before (01/01/04 – 12/31/04).

Source: RMLS, December 2005.

January 17, 2006 · Filed Under Market Activity

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