Typical Home Prices for Portland

Average Price Summary - 12 Year Appreciation Trend
Portland Suburbs' and Neighborhoods' Details

If you divide Portland Oregon into roughly four sections using Interstate 5 to divide East from West (see map link at left), and Hwy. 26 and I-84 to divide North from South, you would have an approximate layout of the greater Portland Oregon Metro Area. The Westside (includes NW and SW) is the area that we once called the suburbs or bedroom communities of the City of Portland. This is where you would find the largest concentration of Townhomes, Condos, and Patio Homes, in addition to single family homes. With the influx of high tech during the 80's and 90's, the area along Hwy 26 (Sunset Corridor) is referred to as the Silicon Forest. The demographics of the area are young and affluent. Most homes are less than 20 years old.

Our many planned communities are very attractive. The Eastside of Portland contains our older neighborhoods built between 1910 and about 1950. Lots are on a traditional 50 by 100 grid pattern and small neighborhood shops and restaurants make this area very charming. Below is a list of the Average Sales Price of all Homes Sold year to date in the different cities comprising the Portland Metro Area. This is not intended to imply that all homes in a particular area are selling at this price point, but it does give you a general idea.

Average Sales Prices for September 2010

Want to learn more? Visit this site for a listing of all the cities and counties in Oregon.

Current Market Conditions

October 2010 Update

Portland’s real estate market has remained reasonably healthy through 2010 primarily due to low interest rates (currently at 4%). Our inventory of unsold homes dropped to 7 months in May and is back up to 11 months for September. Foreclosures and short sales are a factor, but not as big as in many other areas of the Country. The East Side of Portland currently has more short sales and foreclosures than do the West Side suburbs, but SE Portland has the highest number of short sales and foreclosures in of all Portland Metro. It is estimated that 22% of all homes currently for sale are short sales. The problem with short sales is that banks are not cooperating with Sellers and only one in five transactions actually closes. Foreclosures tend to sell quickly and not linger on the market unless the property has problems. Most foreclosures are in great condition making them an excellent buy.

I expect the Winter months to be soft but the number of investors buying properties has increased significantly. Portland still is and always will be a very desirable place to live. The number of people relocating to Portland from other parts of the Country (especially retired) is still growing which is a excellent sign.

When you search the MLS for homes you should keep in mind that most homes are now priced at market value. A year ago, many Sellers were still dreaming and priced their homes behind the market (which was falling). That meant that Buyers could offer 10-15% less than list price and still get the house. Today, Sellers that are serious are pricing with the market and usually getting around 97% of asking price. Unlike years past, there are lots of great homes in the low $200s.

Below is a chart showing appreciation for the past 12 years.

Portland Metro Area Appreciation 12 Year Trend

This site is full of useful information about Portland neighborhoods, including detail maps.
City of Portland Neighborhood Maps