Portland Mortgage Broker

For the 12 months ending in January, 2008 vs. the previous 12 months, the average price in the Portland Metropolitan area appreciated 6.1% according to RMLS. The average price rose from $322,900 to $342,900 and the median price rose from $275,000 to $280,000 for an increase of 1.8% for the same 12 month period. The average sales price for all the sales in the month of January 2008 was $342,900 with an average market time of 83 days. At the end of January there were 13,904 active listings listed in the MLS representing a 12.8 month supply of homes. 5.5 months is considered optimum and to be a balanced market.

Portland, Seattle, and Charlotte, NC are the only three larger Amercian cities with a positive appreciation rate, and again our continuing appreciation is a reflection of all the people moving here. Just yesterday Portland won yet another liveability award for the “greenest” city in America. Go, Portland!