Thursday, May 14, 2009

The monthly report on the real estate market in the greater Portland area came out, and I finally figured out how to convert the file so I can post it! As you can see, the median prices across the area vary widely, from Lake Oswego and West Linn at $389,000 to $204,900 in Yamhill County. For a little perspective, the median prices for the previous month, March, where different by large amounts in every area of central Portland, except NE Portland, which was $260,000. Areas that are have a lower median price for April than March are West Portland and Milwaukie/Gladstone/Boring/Clackamas/Estacada. Every other area (North Portland, SE Portland, Lake Oswego/West Linn) have higher median prices in April when compared to March 2009. So, prices are starting to rise again, especially in areas that have a plethora of lower cost homes that are bought by first time home buyers and investors. If you are in that category, the market is starting to pick up, and prices will not be dropping, usually, on the homes you are interested in buying. The more expensive areas, especially Lake Oswego and West Linn, saw a huge increase from March 2009 to April 2009, the median price was up 9%!

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