Typical House Prices for Portland

eastside| westside | beaverton | aloha | orenco station | hillsboro | lake oswego | northwest portland | sherwood | tigard | tualatin | west linn | wilsonville

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.

Current Market Conditions

Appreciation in Portland has slowed in 2007, but unlike much of the US market it has not retracted. From July 06 - July 07 appreciation in Portland Metro was still a healthy 8.1%; compared to 14.4% for January - December 2006. Don't be mislead by media reports predicting doom and gloom in Real Estate. There is more inventory right now that in many years in Portland and sellers are realizing that they may need to negotiate on price to get a sale, so it IS A BUYERS MARKET! But is there risk in buying now, I don't think so. If you plan to live in your home for 3 years or more, and work with me to purchase a home at a reasonable price you will be making a good investment and have a beautiful home to call your own.

Portland Metro Area Appreciation 10 Year Trend

We ended 2006 with the expected seasonal slow down and a significantly larger inventory than we have seen in years. Interest rates for a 30 year Fixed with a 1% loan fee, are just under 6%. These are great conditions for Buyers.

We seem to have attracted the attention of out of state investors (particularly California) who are buying rental properties hoping for big appreciation. Several of them are selling more expensive properties in other states. They are then able to buy multiple properties here using a 1031 Exchange to defer the capital gain tax. I have also seen a number of soon to be retired individuals deciding to buy a second home here now, which will become their primary residence after retiring.

Average Sales Prices for July 2007

Eastside

The Eastside of Portland began growing during the early part of this century. Streets are plotted out in a traditional grid pattern with many 'Old Portland' style homes and bungalows nestled in tree-lined streets with detached garages hiding in the back. In many areas a coffee shop is just around the corner and commuters use MAX our light rail system to commute the short distance to downtown.

Southeast Portland is home to the Hawthorne and Belmont districts which are filled with single-family homes and apartment buildings. Bakeries, coffeehouses, boutiques, music and bookstores, pubs and restaurants line both sides of the 30 block boulevard. Homes were built during the mid 1920s through the 1950's. Prices vary greatly but start around $270,000. for a small bungalow and average $375,000. for an 1800 square foot Craftsman.

The Sellwood historic district has more than 50 antique stores and is located just over the Sellwood Bridge from downtown Portland, making it one of the closer in neighborhoods. The homes were built beginning at the turn-of-the-century with Victorian mansions and more conservative homes for the working class. This neighborhood was revitalized in the 1980's and is home to the Oaks Bottom Wildlife Sanctuary along the river and the Oaks Amusement Park, a Portland landmark. Average sales price in Sellwood is about $310,000.

Some of our wealthy founders built beautiful craftsman houses that were copied for decades and have resulted in areas such as Westmoreland (part of the Sellwood-Moreland neighborhood), and Eastmoreland. These highly sought after neighborhoods have tree lined streets, quiet neighbors, and a variety of Portland's' most beautiful homes. Eastmoreland has a wonderful public golf course while Westmoreland has several parks. Average sales price is about $400,000 to $500,000.

Southeast Portland has too many neighborhoods to mention here. Some are just beginning to revitalize and there are still bargains to be had, while others are well on their way to becoming the next Hot-Spot.

Some of the areas most affordable housing can be found in North Portland. This area has seen a huge gain in popularity in the last two years. As we struggle to find affordable housing, an area that was once undesirable, is now seeing investment and rejuvenation. I sold a house three years ago for $120,000. which is now worth $300,000. North Portland is located on both sides of Interstate 5, with the west side being the home of the University of Portland. Some of the areas are still in need of some significant attention, (if you know what I mean) but with a little risk comes big payoffs.

Northeast Portland has long been a great place to live. Located on both sides of I-84, it offers a close proximity to everything. The three most popular neighborhoods are Alameda, Irvington, and Laurelhurst.

Alameda was laid out as an exclusive sub-division in 1909 and later added to the City of Portland. It has streets of older architecturally interesting homes, and trendy neighborhood shops. It has a high level of community and school involvement, which has made it a local favorite. Most sales prices are between $400,000 - $500,000.

Irvington has an old and quaint downtown that runs along NE Broadway. Lloyd Center, one of Oregon's first Malls is located here. The Rose Quarter, along with the Rose Garden and the Oregon Convention Center are at the Western edge of Irvington. Clusters of small restaurants are within walking distance of most homes. The entire neighborhood of Irvington is a National Historic District, it is one of the oldest established neighborhoods in Portland. The homes tend to be Victorian in style and most have been beautifully restored over the years. Residents of Irvington tend to be managerial types with only 30% of the households having children. Average sales prices are $450,000 - $600,000.

Laurelhurst is a close-in residential area of 1,817 homes with Laurelhurst Park at the heart. This neighborhood has circular medians planted with roses and statues of famous founders. Homes range from modest bungalows (not so modest prices) to Georgian mansions. Unlike Irvington, Laurelhurst is home to families. People chat over the front porch and take life a bit slower. Even though living in this area requires a healthy budget, you won't see many high-end cars here. Residents care more about their families and community, than their wheels. Average sales prices are $450,000-$550,000.

Southeast Portland		North Portland
Northeast Portland		Laurelhurst
Eastmoreland

Clackamas and Happy Valley

Clackamas and Happy Valley are what I call the East Side Suburbs. Clackamas Town Center, one of Oregon's largest indoor malls, and the surrounding shopping centers are located just off I-205 and at the Western edge of the Clackamas area. Happy Valley is located on the east side of I-205 and was mostly farmland 10 years ago. There are new neighborhoods built for first time home buyers up to some very high-end developments with views of Mt. Hood and prices starting at $600,000. This area is growing rapidly and has a few traffic issues until some major new roads and highways are completed over the next decade or so, but I love the variety and affordability of the homes. The commute into downtown Portland is longer than other eastside communities, but there is great access to the airport and shopping. Average sales price is about $300,000.

Westside

The Westside consists of the Cities of Aloha, Beaverton, Hillsboro, Lake Oswego, Northwest Portland, Tigard, Tualatin, West Linn and Wilsonville. MAX, our light-rail system runs from downtown Portland through Northwest Portland, Beaverton, Aloha, and Hillsboro.

Beaverton is probably the city that started the urban sprawl. In the early 70'scompanies like Tektronix, Intel and Nike planted those trees that would become the 'Silicon Forest'. Today the population is reaching 82,000 and has the traffic jams to prove it. Beaverton was the first real suburb where people could live and work in the same community. Shopping and errands could be handled during the lunch hour, and there was more time for the family. Much of this still exists in beautifully planned communities that invite neighbors to get out and talk to each other. Prices start at around $250,000 for starter homes in Aloha, and average between $400,000 and $600,000 for a newer contemporary in neighborhoods like Murrayhill. Light rail or 'MAX' connects Beaverton commuters into the city and offers a great way to go shopping in the City for an afternoon.

Beaverton
Aloha

Orenco Station, an award winning new American hometown Planned community with homes, cottages, lofts, live/work townhomes, parks, businesses, shops and restaurants all located in Hillsboro within walking distance of Light Rail.

Orenco Station

Hillsboro, with a population of 54,000 is the county seat, and maintains a steady population growth due to the huge presence of Intel and other high tech companies. While enjoying the livability of a small agricultural area, Hillsboro is moving into the future as one of Oregon's fastest growing communities. It is a community in which residents, businesses, education and government work together to promote quality living. The supply of new construction in all price ranges is widely available.

Hillsboro		Hillsboro

Lake Oswego is located in the northwestern corner of Clackamas County, and is ideally situated close to Oregon's major metropolitan areas. Just eight miles from downtown Portland and 45 minutes from the state capitol in Salem. Surrounding the private lake are many neighborhoods, each with it's own unique character. Lake Oswego is primarily an affluent residential community (population 33,000), but there is some commercial development and light manufacturing. Most of the businesses are located downtown near the Willamette River or in Lake Grove near Interstate 5.

Lake Oswego		Lake Oswego

Northwest Portland consists of an area, which is located on the north side of Hwy. 26. It has excellent access to both downtown Portland and the high tech companies within the 'Sunset Corridor'. With the mountains that rise just west of the city, many of these homes have fabulous views and are highly sought after. There is a large supply of executive homes starting in the mid $400,000s and going up to about $800,000. This area also contains small acreage estates located just out side the urban growth boundary. Further west are the communities of Oak Hills and Rock Creek offering homes built in the 70's, 80's, and 90's starting at $325,000 for a three bedroom two bath home. An upscale senior community (55 and older) called Claremont sits on one of our premier knolls and boasts an amazing private golf course and club house. MAX, our light rail system, also services this area.

Northwest Portland
Rock Creek		Rock Creek
Oak Hills		Oak Hills

Sherwood is a new City with an old history. Old Town was originally built in the late 1800s and is currently home to a wonderful collection of shops, antique stores, restaurants and City Hall. As one of the fastest growing Cities in Oregon, the population currently stands at 14,050 and covers 4.5 square miles (zip code 97140). Sherwood is a new and growing community that has a wonderful long term vision that is quickly becoming a reality. The planned communities are beautiful, the parks are plentiful and the quality of life is suited for those who appreciate a sense of community and pride in their City. The annual Robin Hood Festival is one of my favorite two day events.

The Sherwood Schools are excellent and have a high percentage of parental involvement. The average commute time for a Sherwood resident is currently 26 minutes. The only draw back to this wonderful City is a transportation bottleneck heading East to I-5. With the growing population and demographics, many large retailers, like Home Depot, Target, and GI Joes have already built new stores in the City, eliminating the need to venture out.

Sherwood
Sherwood		Sherwood

Tigard is a city of 46,860. Tigard's population has increased 1.5 times since 1980 and includes an area of 11 square miles. This tremendous growth has coincided with the rapid development of Washington County as a high technology center, and more importantly, an attractive place to live. Tigard is located just south of Beaverton and spans both sides of Hwy. 217, and is within 4 miles of Hwy 26 and 2 miles of I-5, offering multiple routes into downtown Portland just 8 miles away. It is also home to Washington Square Mall, one of the largest shopping centers in the area. Tigard has great schools and many parks making it a family favorite.

Tigard offers housing in planned neighborhoods and newly developed subdivisions ranging in price from $320,000 for a 3 bedroom 2 bath home built in the 70's; a new construction 4 bedroom 2.5 bath home for $370,000; up to a very large 4-5 bedroom newer home with a view for $600,000. or more. Tigard has two senior communities for those of you 55 years of age. King City and Summerfield both offer a wonderful selection of small to mid-size homes, condos, and apartments with golf course and country club amenities. This is an affordable and convenient place to retire.

Bull Mountain		Bull Mountain
Tigard		Tigard

Tualatin, 'Tree City USA' is just south of Tigard and shares the Tigard-Tualatin School District. Located along I-5, this City of 28,000 residents enjoy the beauty of the Tualatin River and direct access to the City of Sherwood to the west (wine country) and the Oregon Coast. Just 12 miles south of downtown Portland, it also offers an easy city commute. More than 60% of the homes in Tualatin have been built since 1980. There is still some new construction available but vacant land is going fast.

Tualatin		Tualatin

West Linn and Wilsonville are one School District and share many of the same attributes. West Linn is located just east of Lake Oswego and has a wonderful mountain offering homes with a view of Mt. Hood and the Willamette River that can not be matched anywhere. The housing ranges from small bungalows for around $350,000, large older homes in the mid $400,000, to executive homes in the range of $500,000 to $900,000. This area has a real sense of community. Every time I'm in West Linn, whether it's morning, noon or night I see people jogging and riding bikes . Marylhurst College is also located in West Linn along the river.

West Linn		West Linn

Wilsonville is the Gateway to Oregon's wine country, and is situated in the lush horticultural growing area of Oregon's Willamette Valley. Wilsonville is also the location of major high technology companies such as Mentor Graphics and Xerox. With the Willamette River flowing through town and acres of public parks and gardens within the city, Wilsonville is a special place to work and live. Located just 17 miles south of Portland and spanning both sides of I-5, Wilsonville is still a small community, with significant new construction planned for the next few years, and a new town square containing shopping, dining, and entertainment options. Surrounded by farmland and expensive small acreage properties, this is the perfect place for country folk and horse lovers. The very exclusive Oregon Golf Club is located on top of Pete's Mountain in Wilsonville.

Wilsonville		Wilsonville

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