Typical House Prices for Portland

eastside| westside | beaverton | aloha | orenco station | hillsboro | lake oswego | northwest portland | sherwood | tigard | tualatin | west linn | wilsonville

If you divide Portland Oregon into roughly four sections using Interstate 5 to divide East from West (see map link at left), and Hwy. 26 and I-84 to divide North from South, you would have an approximate layout of the greater Portland Oregon Metro Area. The Westside (includes NW and SW) is the area that we once called the suburbs or bedroom communities of the City of Portland. This is where you would find the largest concentration of Townhomes, Condos, and Patio Homes, in addition to single family homes. With the influx of high tech during the 80's and 90's, the area along Hwy 26 (Sunset Corridor) is referred to as the Silicon Forest. The demographics of the area are young and affluent. Most homes are less than 20 years old.

Our many planned communities are very attractive. The Eastside of Portland contains our older neighborhoods built between 1910 and about 1950. Lots are on a traditional 50 by 100 grid pattern and small neighborhood shops and restaurants make this area very charming. Below is a list of the Average Sales Price of all Homes Sold year to date in the different cities comprising the Portland Metro Area. This is not intended to imply that all homes in a particular area are selling at this price point, but it does give you a general idea. top

Current Market Conditions

The Greater Portland Area's average sales price is up through the end of November, 2005. According to RMLS the area's average sales price for the last 12 months was $228,000 - up 14.6% from the $244,300 average for the 12 months prior. Using the same date range to compare median sales price, we see a 16.% appreciation rate ($234,500 vs. $202,5000). If you look at just the City of Portland, the increase in median sales price for the past twelve months was 16/%.

With our economy being the 2nd fastest growing in the nation and with a predicted 500,000 people moving here in the next 15 years, we see no shift in the steady appreciation we have enjoyed since 1988.

We seem to have attracted the attention of out of state investors (particularly California) who are buying rental properties hoping for big appreciation. Several of them are selling more expensive properties in other states. They are then able to buy multiple properties here using a 1031 Exchange to defer the capital gain tax. I have also seen a number of soon to be retired individuals deciding to buy a second home here now, which will become their primary residence after retiring

 

Eastside North Portland $228,500 NE Portland $275,500 SE Portland $245,500 Clackamas/Happy Valley $322,700 SW Washington $293,000 Camas $362,500

Westside West Linn/Lake Oswego $465,400 NW Portland $398,100 Beaverton/Aloha $260,800 Tigard/Tualatin $320,200 Wilsonville $357,100 Hillsboro $263,300

Eastside

The Eastside of Portland began growing during the early part of this century. Streets are plotted out in a traditional grid pattern with many 'Old Portland' style homes and bungalows nestled in tree-lined streets with detached garages hiding in the back. In many areas a coffee shop is just around the corner and commuters use MAX our light rail system to commute the short distance to downtown.

Southeast Portland is home to the Hawthorne and Belmont districts which are filled with single-family homes and apartment buildings. Bakeries, coffeehouses, boutiques, music and bookstores, pubs and restaurants line both sides of the 30 block boulevard. Homes were built during the mid 1920s through the 1950's. Prices vary greatly but start around $240,000. for a small bungalow and average $325,000. for an 1800 square foot Craftsman.

The Sellwood historic district has more than 50 antique stores and is located just over the Sellwood Bridge from downtown Portland, making it one of the closer in neighborhoods. The homes were built beginning at the turn-of-the-century with Victorian mansions and more conservative homes for the working class. This neighborhood was revitalized in the 1980's and is home to the Oaks Bottom Wildlife Sanctuary along the river and the Oaks Amusement Park, a Portland landmark. Average sales price in Sellwood is about $310,000.

Some of our wealthy founders built beautiful craftsman houses that were copied for decades and have resulted in areas such as Westmoreland (part of the Sellwood-Moreland neighborhood), and Eastmoreland. These highly sought after neighborhoods have tree lined streets, quiet neighbors, and a variety of Portland's' most beautiful homes. Eastmoreland has a wonderful public golf course while Westmoreland has several parks. Average sales price is about $350,000 to $450,000.

Southeast Portland has too many neighborhoods to mention here. Some are just beginning to revitalize have bargains to be had while others are well are their way to becoming the next Hot-Spot.

Some of the areas most affordable housing can be found in North Portland. This area has seen a huge gain in popularity in the last two years. As we struggle to find affordable housing, an area that was once undesirable, is now seeing investment and rejuvenation. I sold a house three years ago for $120,000. which is now worth $300,000. North Portland is located on both sides of Interstate 5, with the west side being the home of the University of Portland. Some of the areas are still in need of some significant attention, (if you know what I mean) but with a little risk comes big payoffs.

Northeast Portland has long been a great place to live. Located on both sides of I-84, if offers a close proximity to everything. The three most popular neighborhoods are Alameda, Irvington, and Laurelhurst.

Alameda was laid out as an exclusive sub-division in 1909 and added to the City of Portland. It has streets, of older architecturally significant (lots of Tudors) and view homes, trendy neighborhood shops. It has a high level of community and school involvement, which have made it a local favorite. Average sales price is about $340,000.

Irvington has an old and quaint downtown that runs along Sandy Blvd. Lloyd Center (Oregon's largest Mall) is located here along with the Rose Garden and the Oregon Convention Center. Clusters of small restaurants are within walking distance of most homes. The residents of Irvington tend to be managerial types with only 30% of the households having children. Average sales price is about $390,000.

Laurelhurst is a close-in residential area of 1,817 homes with Laurelhurst Park at the heart. This neighborhood has circular medians planted with roses and statues of famous founders. Homes range from modest bungalow (not so modest prices) to Georgian mansions. Unlike Irvington, Laurelhurst is home to families. People chat over the front porch and take life a bit slower. Even though living in this area requires a healthy budget, you won't see many high-end cars here. Residents care more about their families and community, than their wheels. Average sales price is about $350,000. top

Clackamas and Happy Valley are what I call the East Side Suburbs. With Clackamas Town Center (a huge mall) located just off I-205. Happy Valley is located on the east side of I-205 and was mostly farmland 10 years ago. There are new neighborhoods built for first time homebuyers up to the latest 'Street of Dreams' development with views and prices starting at $600,000. This area is growing rapidly and has a few traffic issues, but I love the variety and affordability of the homes. While it is too far of a commute for some into downtown Portland, it has great access to the airport. Average sales price is about $300,000. top

Southeast Portland Sold 09/05 $270,000		North Portland Sold 09/05 $193,900
Northeast Portland Sold 09/05 $280,000		Laurelhurst Sold 11/05 $590,000
Eastmoreland Sold 10/05 $585,000

Westside

The Westside consists of the Cities of Aloha, Beaverton, Hillsboro, Lake Oswego, Northwest Portland, Tigard, Tualatin, West Linn and Wilsonville. MAX, our lightrail system runs from dowtown Portland through Northwest Portland, Beaverton, Aloha, and Hillsboro. top

Beaverton is probably the city that started the urban sprawl. In the early 70's companies like Tektronix, Intel and Nike planted those trees that would become the 'Silicon Forest'. Today the population is reaching 70,000 and has the traffic jams to prove it. Beaverton was the first real suburb where people could live and work in the same community. Shopping and errands could be handled during the lunch hour, and there was more time for the family. Much of this still exists in beautifully planned communities that invite neighbors to get out and talk to each other. Prices start at around $250,000 for starter homes in Aloha, and average between $400-600,000 for a newer contemporary in neighborhoods like Murryhill. Light rail or 'MAX' connects Beaverton commuters into the city and offers a great way to go shopping in the City for an afternoon.top

Beaverton Sold 08/05 $247,000		Murrayhill Sold 10/05 $565,000
Aloha Sold 09/05 $215,000

Orenco Station, an award winning new American hometown Planned community with homes, cottages, lofts, live/work townhomes, parks, businesses, shops and restuarants all located in Hillsboro within walking distance of Light Rail. top

Orenco Station Sold 09/05 $295,000

Hillsboro, with a population of 54,200 is the county seat, and maintains a steady population growth due to the huge presence of Intel and other high tech companies. While enjoying the livability of a small agricultural area, Hillsboro is moving into the future as one of Oregon's fastest growing communities. It is a community in which residents, businesses, education and government work together to promote quality living. The supply of new construction in all price ranges is widely available.top

Hillsboro Sold 09/05 $252,000		Hillsboro Sold 08/05 $319,900

Lake Oswego is located in the northwestern corner of Clackamas County, and is ideally situated close to Oregon's major metropolitan areas--just eight miles from downtown Portland and 45 minutes from the state capitol in Salem. Surrounding the private lake are many communities, each with its own charm. Lake Oswego is primarily an affluent residential community (population 33,000), but there is some commercial development and light manufacturing. Most of the businesses are located downtown near the Willamette River or in Lake Grove near Interstate 5. top

Lake Oswego Sold 08/05 $359,900		Lake Oswego Sold 09/05 $938,830

Northwest Portland consists of an area, which is located on the north side of Hwy. 26. It has excellent access to both downtown Portland and the high tech companies within the 'Sunset Corridor'. With the mountains that rise just west of the city, many of these homes have fabulous views and are highly sought after. There is a large supply of executive homes starting in the mid $300's and going up to about $700,000. This area also contains small acreage estates located just out side the urban growth boundary. Further west are the communities of Oak Hills and Rock Creek offering homes built in the 70's, 80's, and 90's starting at $280,000 for a three bedroom two bath home. An upscale senior community (55 and older) called Claremont sits on one of our premier knolls and boasts an amazing private golf course and club house. MAX, our light rail system, also services this area. top

Northwest Portland Sold 09/05 $468,500
Rock Creek Sold 10/05 $320,000		Rock Creek Sold 08/05 $300,000
Oak Hills Sold 09/05 $336,000		Oak Hills Sold 11/05 $289,900

Sherwood is a new City with an old history. Old Town was originally built in the late 1800s and is currently home to a wonderful collection of shops, antique stores, restaurants and City Hall. As one of the fastest growing Cities in Oregon, the population currently stands at 14,050 and covers 4.5 square miles (zip code 97140). Sherwood is a new and growing community that has a wonderful long term vision that is quickly becoming a reality. The planned communities are beautiful, the parks are plentiful and the quality of life is suited for those who appreciate a sense of community and pride in their City. The annual Robin Hood Festival (www.robinhoodfestival.com) is one of my favorite two day events.top

The schools are excellent and have a high percentage of parental involvement. The average commute time for a Sherwood resident is currently 26 minutes. The only draw back to this wonderful City is a transportation bottleneck heading East to I-5. With the growing population and demographics, many large retailers, like Home Depot, Target, and GI Joes have already built new stores in the City, eliminate the need to venture out.top

Sherwood Sold 12/05 $279,900
Sherwood Sold 12/05 $360,000		Sherwood Sold 12/05 $400,000

Tigard is a city of 45,000. Tigard's population has increased 1.5 times since 1980 and includes an area of 11 square miles. The population forecast for the year 2005 estimates 47,280 people. This tremendous growth has coincided with the rapid development of Washington County as a high technology center, and more importantly, an attractive place to live. Tigard is located just south of Beaverton and spans both sides of Hwy. 217, and is within 4 miles of Hwy 26 and 2 miles of I-5, offering multiple routes into downtown Portland just 8 miles away. It is also home to Washington Square Mall, one of the largest shopping centers in the area. Tigard has great schools and many parks making it a family favorite. top

Tigard offers housing in planned neighborhoods and newly developed subdivisions ranging in price from $280,000 for a 3 bedroom 2 bath home built in the 70's; a new construction 4 bedroom 2.5 bath home for $310,000; up to a very large 4-5 bedroom newer home with a view for $400,000. or more. Tigard has two senior communities for those of you 55 years of age. King City and Summerfield both offer a wonderful selection of small to mid-size homes, condos, and apartments with golf course and country club amenities. This is an affordable and convenient place to retire.top

Bull Mountain Sold 09/05 $472,500		Bull Mountain Sold 09/05 $700,000
Tigard Sold 08/05 $280,000		Tigard Sold 10/05 $304,900

Tualatin, 'Tree City USA' is just south of Tigard and shares the Tigard-Tualatin School District. Located along I-5, this City of 27,000 residents enjoy the beauty of the Tualatin River and direct access to the City of Sherwood to the west (wine country) and the Oregon Coast. Just 12 miles south of downtown Portland, it also offers an easy city commute. More than 60% of the homes in Tualatin have been built since 1980. There is still some new construction available but vacant land is going fast. top

Tualatin Sold 09/05 $257,000		Tualatin Sold 09/05 $323,450

West Linn and Wilsonville are one School District and share many of the same attributes. West Linn is located just east of Lake Oswego and has a wonderful mountain offering homes with a view of Mt. Hood and the Willamette River that can not be matched anywhere. The housing ranges from small bungalows for around $280,000, large older homes in the mid $300's, to executive homes in the range of $500-900,000. This area has a real sense of community. Every time I'm in West Linn, whether it's morning, noon or night, I see people jogging and riding bikes . Marelhurst College is also located in West Linn along the river. top

West Linn Sold 09/05 $289,000		West Linn Sold 09/05 $754,500

Wilsonville is the Gateway to Oregon's wine country, and is situated in the lush horticultural growing area of Oregon's Willamette Valley. Wilsonville is also the location of major high technology companies such as Mentor Graphics and Xerox. With the Willamette River flowing through town and acres of public parks and gardens within the city, Wilsonville is a special place to work and live. Located just 17 miles south of Portland and spanning both sides of I-5, Wilsonville is still a small community, with significant new construction planned for the next few years, and a new town square containing shopping, dining, and entertainment options. Surrounded by farmland and expensive small acreage properties, this is the perfect place for country folk and horse lovers. The very exclusive Oregon Golf Club is located on top of Petes Mountain in Wilsonville. top

Wilsonville Sold 08/05 $351,750		Wilsonville Sold 09/05 $799,900

Want to learn more? Visit this site for a listing of all the cities and counties in Oregon.