Average Portland Area Home Prices Up 9.3% in Last Year

Between July of 2016 and July of 2017, the average home price in the Portland Metro Area rose to $428,000.

Credit Guy Kilroy, myguysmoving.com
By Rachel Monahan

Portland area home prices have continued to climb, according to data released earlier this week on real estate sales.

The average price for a home in the metro area hit $428,000, according to the Regional Multiple Listing Service data. That’s a 9.3 percent increase between July of 2016 and July of 2017.

There are contradictory signals on whether home prices will continue to climb at least as quickly as they have in the past.

The average amount of time that homes stayed on the market declined five days between June and July.

But at the same time, there’s a greater number of homes on the market relative to the buyers seeking them.

The inventory amounted to a 2.1 month supply, according to the analysis. That’s the highest the inventory has been since February of 2015 when there was an estimated 3.0-month inventory.

 

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