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re:PDX is presented by Claire Widmark, broker affiliated with M Realty LLC in Portland, Oregon.
Phone: 971-275-3691
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Portland Real Estate Market Performance, November 2006
Here are Portland-area communities’ average and median sale prices (year-to-date), plus a comparison of 12-month appreciation rates as of November 1, 2006. For a full commentary, read my previous market activity post, or my Market Activity page at ronares.com.
| Area |
YTD Average Sale Price
|
YTD Median Sale Price
|
12-Month Appreciation
|
| Lake Oswego / West Linn |
$538,100
|
$450,000
|
18.2%
|
| West Portland |
$451,800
|
$376,000
|
11.4%
|
| NW Washington County |
$402,900
|
$365,000
|
10.7%
|
| Tigard/Tualatin/Sherwood/Wilsonville |
$354,900
|
$320,000
|
12.5%
|
| Milwaukie / Clackamas |
$352,900
|
$307,500
|
21.2%
|
| Oregon City / Canby |
$322,200
|
$283,300
|
17.8%
|
| Northeast Portland |
$304,200
|
$265,000
|
16.9%
|
| Beaverton / Aloha |
$278,500
|
$250,000
|
14.2%
|
| Hillsboro / Forest Grove |
$278,000
|
$255,800
|
15.6%
|
| Southeast Portland |
$265,400
|
$233,000
|
15.5%
|
| Gresham / Troutdale |
$263,200
|
$245,900
|
14.3%
|
| Yamhill County |
$263,000
|
$229,000
|
21.7%
|
| North Portland |
$244,800
|
$234,900
|
19.7%
|
| Columbia County |
$227,000
|
$215,000
|
14.8%
|
[tags] Portland, Oregon, real estate, market, average, median, home, prices, appreciation [/tags]
Comments
3 Responses to “Portland Real Estate Market Performance, November 2006”
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Hi Ron:
Thanks for making it so easy for “data junkies” to get their “fix.” I’ve been watching neighborhood price appreciation for a year now, and find the latest stats interesting. I haven’t been tracking all neighborhoods, but it looks as if L.O. is appreciating more than it did last year, and that NoPo has fallen way behind its 2005 appreciation rate. If that’s true, is it fair to say that “high end” properties weather market turbulence better than “average” and “low end” properties? By the looks of the data, it seems that “high end” properties have been, so far, immune to downward market pressures. If my conclusions about the market are accurate, I’m wondering if it is because “high end” properties are in limited “supply,” compared to other sectors of the market, and therefore less likely to experience fluctuations in “demand”?
Thanks,
Jan
Hi Jan,
I’m glad you like the monthly updates.
My ‘thesis’ on high-end properties is that due to decent economic conditions (i.e. stock market, low inflation for now, low interest rates, employment growth, etc.), that high-end properties aren’t as affected as bread-and-butter 3 bed/2bath single family homes. Inventory is definitely a factor.
I saw earlier in the year that Lake Oswego was appreciating at a slower pace than much of Portland, but anecdotally I’ve heard that $1M+ homes are selling briskly now. Properties with distinction, amenities, and good location will continue to be in high demand unless the economy tanks. Still a lot of out of state buyers inquiring.
[...] Here are Portland-area communities’ average and median sale prices (year-to-date), plus a comparison of 12-month appreciation rates as of November 1, 2006. For a full commentary, read my previous market activity post, or my Market Activity page at ronares.com. Area YTD Average Sale Price YTD Median Sale Price 12-Month Appreciation Lake Oswego / West Linn $538,100 $450,000 18.2% West Portland $451,800 $376,000 11.4% NW […] Read more… [...]