Fears Fuel Record Prices

The title of today’s post is the bold print story title in the business section of today’s Oregonian. The market has shifted in favor of the seller in the Portland real estate market. The online article doesn’t include the graphics in the print version.

According to the graphic, apprciation by neighborhood:

Milwaukie/Clackamas 16.9%
North Portland 13.8%
Lake Oswego/West Linn 12.9%
West Portland 12.9%
Southeast Portland 12.6%
Northeast Portland 11.9%
Oregon City/Canby 11.4%

Median sale price in RMLS has gone up to $239,000. That’s 17.2% higher than this time last year! Inventory remains a low 1.5 months and average time on market continues to decline to just 41 days.

One Comment on “Fears Fuel Record Prices

  1. I share the fear, but I cannot come up with the purchase price. I do not view homeownership as a ticket to wealth (although if current trends continue, we could return to those days) but rather as a defensive position (against rent etc increases) for a low earner like myself.

    I have the fear, how can I protect myself in this rising market?

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