Front page headline of today’s Oregonian article by Dylan Rivera: Housing Prices Refuse to Cool.
The Portland area’s median home price jumped 20.4 percent to $252,900 in December from last December, according to the Regional Multiple Listing Service. The inventory of available homes was 2.1 months’ supply, close to record lows that have persisted since last spring.
This echoes our December, one of our busiest months of 2005. We did see a little slowdown right around the New Year but we’ve picked up again with clients looking for homes at both the low end and high end of the market. As of this morning, there are 86 active listings over $1,000,000 in Portland. There are 366 listings priced from $100,000 to $200,000.*
*Combined active and Bumpable listings in RMLS areas 141 (N. Portland), 142 (NE Portland), 143 (SE Portland) and 148 (West Portland) as of 9AM 11/17/06.