The Regional Multiple Listing Service annually reports changes in average sale prices for five counties in the greater Portland-Metro area. From 2008 to 2009, all five counties had double-digit percent decreases in the average sale price of residential properties.
County Average Sale Price Percent change from 2008 to 2009
Clackamas $336,100 -10.6%
Columbia $193,300 -16.2%
Multnomah $285,300 -14.0%
Washington $281,300 -11.1%
Yamhill $227,300 -14.8%
So far into 2010, January’s average sale price for all of the Portland Metropolitan area was $282,400, which is down 3.7% when compared to December 2009 and 5% when compared to January 2009.
If you are in the market to purchase a home, now is the perfect time to buy. There are plenty of properties available, sale prices have continued to drop, and interest rates are low. Additionally, if eligible, the extended and expanded home buyer’s tax credit is available if in a purchase contract by April 30, 2010 and close by June 30, 2010.
Do you have any questions regarding real estate statistics, market conditions, or realtor services?
If so, please contact me at:
dannyshepard@oregonfirst.com
503-267-8370
All statistics listed are quoted from the January 2010 issue of RMLS Market Action.
