About this time last year the market in Portland changed. Inventory dropped and prices started going up. All of a sudden there were multiple offers on almost every house in the close-in neighborhoods of Portland. A year after the recovery began prices are up dramatically.

Here’s a look at close-in SE Portland [zip codes 97214 and 97202] in March and April 2012 vs. 2013:

2012:

Closed sales: 86

Average price per square foot: $153

Median Days on Market: 14

Sales Price to List Price Ratio: 98.7%

2013:

Closed sales: 119 Up 38%

Average price per square foot: $181 Up 18%

Median Days on Market: 8 43% Faster

Sales Price to List Price Ratio: 99.9% Essentially full price

What makes things really interesting is that the average asking price is $199 per square foot: Up 30%