Portland Home Sale Prices Stable for Several Months
Last week OregonLive, the online version of the Oregonian newspaper, reported that the median sale price for a Portland home in August, 2009 was $249,900, down 17.3% from August 2007. That was the peak month of the boom, when the median Portland sale price was $302,000. OregonLive also noted that metro prices had hovered around $250,000 for nine straight months.
West Portland has been more volatile, probably due a smaller data set, which is compounded by a fluctuating monthly mix of small and large home sales. The West Portland median price history, broken down by home size (bedrooms), may be viewed in our Portland Market Data Center.
The graph below shows the median price history for both Metro Portland (blue) and close-in West Portland (red). The 12 month trend lines smooth out the seasonal fluctuations.
February 9th, 2010 at 2:24 pm
This is a great article.