RMLS recently updated the annual market data for Portland metro and sub-area housing markets. By the simplest measure, Portland home values fell 11% in 2009. The 2008 median sale price was $278,000; 2009 was $247,000. West Portland fell slightly less, about 10%. The 2008 West Portland median sale price was $389,000; 2009 was $349,000.

For 2009 Metro Portland is also 14.8% below the 2007 median sale price of $289,900, and 19.4% below the peak month of 2007.  See S&P/Case-Shiller releases November 2009 Housing Indices to find out how Portland fared amongst the twenty largest U.S. cities.

2009-12-Median-Price-Metro-Portland

Price adjustments occurred pretty evenly across home sizes, at least when measured by the number of bedrooms.

Median-Price-by-Type-Metro

Those nice smooth lines, however, mask a lot of month to month variation. For instance, the same data for the West Portland sub-market, graphed in detail at a monthly level, illustrates the wild swings that occur within any twelve month period.

2009-12-Median-Price-148-Bdrms

Despite broad statistical measures, values have not changed consistently throughout Portland. Visit the Portland Home Team’s Market Data Center for other current measures, or call or email us for up-to-date information about your home.

Portland Housing Market: 2009 Review, 2010 Forecast

  • Monday – 2009 Portland Home Sale Prices: RMLS releases annualized 2009 data for Portland metro and sub-area markets.
  • Tuesday – 2009 Portland Home Sale Totals: What type and size homes have suffered the most?
  • Wednesday – Active Listing Inventory: Is it true that Portland is flooded with “For Sale” signs?
  • Thursday – 2010 Forecast: What we think it all means for the market value of your current or future home.
  • Next Week – Opportunities in 2010: There are unbelievable bargains out there, but they’re not obvious.