Portland Real Estate Prices

The Median Sales Price of Portland Real Estate peaked in late 2007 at just above $305,000 (please remember that these are averages…see below) and for the last couple of years has overed in the area right around $250,000 per home.

The number of homes sold (when you take out seasonal fluctuations and look at the whole year) has declined slightly.

The price per square foot has declined since the peak in 2007 where it peaked at an average of $237 per square foot and now is currently at $178 per square foot.

Again these are averges. Please see the article below.

On of the difficult things about using “averages” or “median home prices” is that it often tells a misleading story about a specific piece of real estate that you are looking to buy or sell. Let’s take a look at the following example:

Let’s say in Portland overall, the AVERAGE price of a home goes up by 3% (this is a hypothetical example.). So you think: “Great! My home has gone up in value by 3%!”  The truth of the matter is, it could be MUCH higher (woo hoo!) or MUCH lower (ugh!) than that.

In a city as diverse as Portland is, there are MANY little neighborhoods and communities. While they are all affected by the overall economy, there are negihborhoods where homes are selling FAST today in Portland and pricing is strong. There are also areas where it is tougher to sell and pricing is softer.

How do I price my home for sale?

The simple answer is that you need a CMA (competitive market analysis) that provides you with a look at other homes that are competing with yours in the market. We are happy to provide one for you. No cost or obligation. (We would love to earn your business, though). Just give us a call.