I Love Portland Homes

According to the current market statistics from the RMLS, the average home sales price in Portland this July was $352,900 and the median price was $300,000.  (Year-to-date prices through July 2007 are $341,900 average and $289,900 median.)  The average sales price has appreciated 8.1% for the twelve months ending in July 2007, compared to the twelve months ending in July of 2006.

The average time on the market has also increased since July of last year from 38 to 52 days.  Inventory is up, due to a steady increase in new listings (July saw 55% more active listings than at the same time last year) and a decrease in the number of transactions. 

This longer market time and increase in active listings is good for buyers who want to evaluate their options and not make a rushed decision when buying a home. 

From Market Action, a monthly review of RMLS area real estate statistics and trends compiled by RMLS.