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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 Prices and Appreciation – August 2007
Across the Portland metro area, average and median prices for over the past 12 months were up 7.8% and 8.1% respectively over the previous 12-month period. Appreciation has been showing a gradual decline as inventory grows and prices soften. Results are still among the best in the nation, however.
Southeast Portland climbs above Gresham in average price, and now threatens to overtake Beaverton / Aloha to become the eighth-most expensive market area. Northeast and North Portland also show above-average gains month over month and have some of the shortest time on market statistics. The remainder of market areas remained virtually flat year-to-date with August’s sales report.
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 | $559,200 | $465,000 | 6.3% |
| West Portland | $463,300 | $379,000 | 3.4% |
| NW Washington County | $418,800 | $385,000 | 2.0% |
| Tigard / Tualatin / Sherwood / Wilsonville | $379,600 | $340,500 | 4.4% |
| Milwaukie / Clackamas | $339,100 | $301,000 | 4.3% |
| Oregon City / Canby | $327,900 | $304,000 | 6.7% |
| Northeast Portland | $322,300 | $283,000 | 6.9% |
| Hillsboro / Forest Grove | $298,100 | $270,000 | 9.8% |
| Beaverton / Aloha | $290,700 | $262,500 | 3.6% |
| Southeast Portland | $289,100 | $251,700 | 10.8% |
| Gresham / Troutdale | $281,700 | $260,000 | 11.2% |
| Yamhill County* | inc. | inc. | inc. |
| North Portland | $266,200 | $253,100 | 8.6% |
| Columbia County | $254,000 | $239,900 | 14.9% |
*Yamhill County results are incomplete. Updates will be posted when available.
Appreciation percentages are based on a comparison of average price from the last 12 months (09/01/06 – 08/31/07) with 12 months before (09/01/05 – 08/31/06). Source: RMLS, September 2007.
[tags] Portland, Oregon, real estate, home, prices, housing, average, median, sale, appreciation [/tags]
Comments
3 Responses to “Portland Real Estate Prices and Appreciation – August 2007”
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Wow- I can remember when Sellwood prices topped over $100k – we were all in shock – now look at it…. I love your blog and the information you provide to the pulic – thank you for setting a great example of a true Real Estate Professional
Thanks Thesa. I’m sorry we didn’t connect when I was over in Sunriver for vacation. Definitely next time we’re there, if not earlier.
Ron,
I like your posts. They make sense. Fact based analysis. Very good. Please continue.
Jeff Johnson, Sherwood