The Portland Oregon real estate market has been in appreciation mode all year. Prices are up, inventory is down, days on market is down, rents are up and the news for home owners is resoundingly good. Here’s a look at the numbers. For more details and a pretty graph: Portland Oregon market update oct 2013 1
Here are the numbers, year over year:
Closed Sales: Up 16%
New Listings: Up 12%
Average Sale Price is $310,000: Up 15%
Inventory is 3.7 months: Down 20%
Based on the all time high average price of $355,000 set in Summer of 2007, the Portland market only needs to appreciate 13% more to match the all time high which means we’re only 11% below peak values.
Watch for prices to slide a little as we head into winter [this happens almost every year]. Once the government opens the doors again watch for the market in Portland to grow at a more predictable rate now that we’ve bounce up off the bottom of the market which was basically all of 2011.