What is the Current Average Home Sale Price in Your Area? Got it Right Here!

In the last few months I’ve been switching up my real estate market tracking which previously only tracked the Portland metro and surrounding areas as a whole, lumping in Molalla with say N Portland, which shows the overall conditions in the Portland real estate market at large, but doesn’t get granular enough to help folks buying or selling a home in a given area.

That has now changed. I am now tracking, daily, each of the 13 individual RMLS markets in the Portland metro region. This still may not get granular enough for some, however being that these “areas” are defined by RMLS as “markets” it should help quite a bit.

So, home sale prices in a given area? Lets get on with it! These numbers represent all logged sales in the last week (from October 30th – November 6th):

RMLS Area 141 North Portland

Last recorded weeks worth of sale prices (the last green bar on the right) was $324,033 and the average listing price when sold was $319,687. North Portland real estate has been consistently selling for OVER asking price (on average) for weeks now with the lowest percent of asking prices I’ve seen in the 99.x% range.

Next up is RMLS Area 142 Northeast Portland

As you can see the North East Portland real estate market is seeing an average home sale price over the last week of well above $350,000 with the last recorded number being $383,369 representing 98.15% of asking prices (which was $390,592 as of yesterday). Unlike North Portland, North East Portland is selling solidly under asking price, but only by about 1% on average in the last few weeks.

RMLS Area 143 South East Portland

Southeast Portland is hitting just below $300,000 on average with the last number coming in at $278,452 average home sale price representing 99.88% of the $278,800 average asking price. Southeast Portland however has been going back and forth with under asking price and over asking price for quite a while now, usually within 1% of 100% either way.

RMLS Area 144 Gresham, Sandy, Troutdale, Corbett (which includes Fairview, Wood Village etc)

The areas encompassing Gresham, Fairview, Troutdale, Wood Village, Sandy and Corbett have been nipping at the heels of $250,000 with the last recorded number being $249,392 just 99.15% of the average asking price when sold of $251,529

These areas have reached 100%+ of sale price, however it’s only been a handful of times and is more often hovering around 98.5% – 99.5% of asking prices.

RMLS Area 145 Milwaukie, Gladstone, Happy Valley, Clackamas, Damascus

This area has been just under $350,000 on average for quite some time with some weeks seeing an average jump above $350,000 but the areas here have been unable to sustain that. The last recorded number here was on the low side for the area of $288,827, representing 98.45% of the average asking price at the time of sale of $293,365. This is however as you can see from the chart, a low number, previous numbers were pretty steadily over $300,000 with some weekly averages hitting $400,000. Looking at the chart I’d say a good average would be right around $325,000.

This area however is not seeing 100% or better than asking price, however it is managing to stay within 1% of that on average.

RMLS Area 146 Oregon City, Beavercreek, Canby… Hey Molalla, way down there in the south! You’re in here too.

In previous weeks this area was hitting close to the $350,000 mark, but still, the last recorded number from yesterday’s RMLS data shows what is close to being spot on for the overall average if it weren’t for it still being just a hair high at $301,627 representing 98.34% of asking price which is just about dead on for the percent of asking price homes are selling for in the 146 area.

Lake Oswego and West Linn…Area 147 – Expecting BIG numbers right? Well, they are, but not the biggest!

As you can see here Lake Oswego and West Linn just cannot decide what it wants it’s average to be! Some weeks, at, even over $700,000 and some weeks closer to $400,000 with the last weeks average being right around $450,000 and the last recorded number was $460,967 representing our lowest percent of asking price paid (so far in this post) of 97.24% of $474,059 which in terms of averages is on the high side considering some of the % of sale price numbers for area 147 have been closer to 95% with not a 100%+ in sight.

Now, this is not unexpected, this areas real estate prices are indeed on average higher than most other areas and as a result there tends to be a little more negotiating room; hence the lower percent of asking price homes are selling for now.

And now for the highest numbers, Area 148 West Portland / Raleigh Hills

This is a bit more steady than the previous graph for Lake Oswego and West Linn, still some ups and downs, but mostly landing right around the $500,000 mark and while the most recent number isn’t high (see the last bar there, it’s the lowest in this graph) at $428,565 representing 99.17% of the $432,137 asking price, most of the previous numbers give us an average closer to $465,000 and up giving Area 148 just slight edge over the indecisive Lake Oswego and West Linn market. Also, this is an area where back in September a weeks worth of closings (62 homes sold) were a whopping 114.13% of asking price; WOW. They have however settled down to around 98%-99% of asking price on average.

Area 149, NW Washington County and Sauvie Island (RMLS actually states it as “or Sauvie Island” – for whatever that’s worth)

As you can see there, big dip lately…They had a good run over $500,000 then dropped to the mid-$300k’s with the last number being $317,535 at 99.22% of the $320,045 average asking price over the last week. I’ve seen this area pull some good numbers over the last few weeks with the average being closer to $400,000 then yesterdays number; but, it is what it is.

Their percent of asking price has remained pretty steady, around 98.5%+

Over to the “West Side” with Area 150, AKA Beaverton & Aloha

As you can see the Beaverton and Aloha areas are pretty steady just under $300,000 with an average last recorded of $301,515 which is 99.81% of the average $302,080 asking price in the last week. Not much else to say on this one, they’ve been climbing a bit though with previous weeks averages being closer to $270k’ish and now beginning to average closer to $300k -will that trend continue? Stay tuned.

Area 151, Tigard, Tualatin, Sherwood and Wilsonville

Although the lower south west areas have been recently closer to averaging just below $350,000 they have picked up the pace a bit in recent weeks pulling a new average just over $350,000 with the last recorded number being $375,169, 98.13% of the average asking price of $382,307. This average percent of asking price is right about where the area has been for some time now.

Hillsboro & Forest Grove, Area 152 – You’re up!

Coming off of a $300,000 high Hillsboro and Forest Grove are now seeing an average closer to $280,000 with the last recorded average sale price of $286,335 just shy of full asking price at 99.38% of $288,126 average asking price. Additionally in recent weeks these areas have managed to move their average percent of sale price up from 98.x% to 99.x% – Good Job!

And finally, Mt Hood…Oh Mt Hood, how I regularly consider no longer tracking your numbers – Area 153

Like that section title? Yea, there’s just not a lot going on up there…Really…But, it is a destination location in my back yard (just about literally) so…the tracking will continue, with a slight yawn.

Looking at this graph, I don’t know what there average is…There, I said it. This is because the sales in a given week are so low (in terms of number of homes sold) that one week you may have two $150,000 homes sale that are tiny cabins on Government land and the following week a one (or two!) million dollar plus estates sell and the next week, nothing sells. It throws the numbers for a bit of a loop.

Looking objectively, I would have to say overall they are right around $200,000 for the average sale price. The last recorded number was $240,000 which is 96.02% of the $249,950 asking price…however, again, take this with a grain of salt as those numbers are spread across a whopping TWO home sales recorded in RMLS in the last week.

As for the average percent of sale price, due to the low number of sales I’ve seen this as low as in the 80% range and as high as 110% in recent months. The area has the lowest number of homes on the market (107 as of yesterday), so that is what contributes to the messy numbers with this one.

Portland Metro & All Surrounding Areas Combined

The entire Portland market as a whole has been hanging in there with average sale prices right around the $350,000 mark. The last numbers were $336,911 which is 99.02% of the average asking of $340,256 with a total of 372 homes sold in the last week at an average of $169 per square foot and 81 days of inventory currently (64 days was the average market time for those 372 homes sold in the last week thought).

Currently Portland (and again, all local surrounding areas; which includes all the areas I’ve already run through in this post) has 5,489 homes for sale, 229 of those are short sales, 216 are bank owned foreclosures, the latter two making up 8.11% of the total market. There are also 612 new construction homes on the market for a total 11.15% of the market.

In the last week, just over 20% of all buyers that closed on a home paid cash, with only just over 11% using an FHA loan.

I’ll be posting more numbers up as well as the source files I use for tracking these things either this weekend, or come Monday, so stay tuned!

Scott McDonald

Everything. Portland. Real Estate. Blog.

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