The latest is in on the Real Estate Market in Portland, and the news is a little different this month, which can only mean that it's good for once! The average and median sale prices in Portland in February were UP from January. This means that people are spending a little more, and that January might have been the bottom of the housing market. We won't actually know when the bottom was until 6-8 months afters it has passed, but this is a good sign that it has come, or that it's getting close. For those who have been following this blog, you know that my favorite part of the monthly report is the median home prices in each area of Portland, so here they are for February 2009:
North Portland: $235,000
NE Portland: $260,000
SE Portland: $212,500
West Portland: $335,800
Milwaukie, Gladstone, Boring, Clackamas, Estacada: $280,000
Lake Oswego/ West Linn: $365,000
This biggest changes from last month were Lake Oswego/ West Linn, where the median home price dropped from almost $450,000 to $365,000!
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