Portland Oregon Real Estate Prices and Appreciation – June 2007

While the overall market appreciation in the Portland metro area is showing roughly 10% growth when comparing 12-month averages to the year prior, that growth is somewhat spotty.

Lake Oswego, Gresham, Hillsboro, and Yamhill County are leading the charge with 13% or greater price appreciation, balancing out the lackluster results for West Portland (including downtown), Beaverton, Tigard, Tualatin, Wilsonville, and Sherwood–all well under the area average.

Here are year-to-date figures through May 31, 2007:

Area YTD Avg. Sale Price YTD Median Sale Price 12-Mo. Appreciation
Lake Oswego / West Linn $550,400 $462,500 13.3%
West Portland $464,100 $377,000 5.2%
NW Washington County $399,600 $369,000 6.1%
Tigard/Tualatin/ Sherwood/Wilsonville $375,600 $335,000 3.8%
Milwaukie / Clackamas $345,000 $307,700 11.2%
Oregon City / Canby $320,300 $299,900 9.1%
Northeast Portland $312,900 $274,500 9.4%
Hillsboro / Forest Grove $298,100 $270,000 13.1%
Beaverton / Aloha $285,200 $260,000 6.4%
Gresham / Troutdale $282,400 $260,000 16.3%
Southeast Portland $281,700 $248,000 11.5%
Yamhill County $277,800 $246,400 16.0%
North Portland $264,000 $248,500 11.5%
Columbia County $251,200 $239,000 14.3%

Source: RMLS, June 2007.
[tags] Portland, Oregon, real estate, homes, housing, pricing, average, median, appreciation [/tags]

June 19, 2007 · Filed Under Market Activity

Comments

4 Responses to “Portland Oregon Real Estate Prices and Appreciation – June 2007”

  1. JJ on June 22nd, 2007 10:19 am

    How much does the price increase reflect buyers including the closing costs in the sale?

    aka..I’ll give you $10,000 more in price, in exchange for $10,000 credit back towards closing costs.

  2. Private on June 22nd, 2007 2:55 pm

    There is a different between average (Arithmetic mean) and Median. Just one of the games that RMLS plays.

    Another is the rolling 12-month vs. last 12-months statistical smoothing.

  3. Ron on June 22nd, 2007 11:13 pm

    JJ -

    Providing concessions toward closing costs and rolling them into the financing have been relatively common over the past few years, but primarily in the first-time buyer market. With less 95% and 100% loan-to-value mortgages than in past years, I don’t believe they are artificially rising the tide in the Portland area.

  4. JJ on July 2nd, 2007 10:32 am

    I just wonder with that $5,000-$15,000 difference can do that. Depending on the mortgage company, closing can be up to $10,000 and any concessions (repairs etal) can be up to $5,000 with older homes.

    The housing tracker website says that the appreciation hasn’t happened much in Porland, and inventory is up 52% since 12 months ago!

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