Typical Home Prices for Portland

Average Price Summary - 10 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 January 2009

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

Current Market Conditions

2008 Year End Update

Through the end of 2008 we saw an average sales price decrease of -5.7%. In 2007 (see chart below) we had an appreciation of 6.2%. Even though homes are taking significantly longer to sell, our values are holding up without a huge drop. If this trend continues, it may signal that Portland home prices are near the bottom. My personal experience is a bit different. My Buyers are getting offers accepted at $10K-$20K under asking price.

Portland was named the 4th most stable housing market by Forbes Magazine in March 2009 (out of the 23 largest Cities in the US).

Portland’s real estate market had remained healthy through the Summer of 2008 primarily because the job market was strong. Today we have an unemployment rate above the national average which is forcing more people into foreclosure. The number of people relocating to Portland from other parts of the country (especially retired) is still growing which is a good sign.

What does all this mean? NOW IS A GREAT TIME TO BUY. Interest rates are still at a 40 year low, inventory is high, prices are negotiable, and Sellers are motivated. It really doesn't get any better. The First Time Home buyer Tax Credit of $8,000. is a once in a life time opportunity. Call me if you would like more information on this program.

Below is a chart showing appreciation for the past 11 years.

Portland Metro Area Appreciation 10 Year Trend

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