Portland’s Median Home Prices Equal Peak 2007 Numbers
The median sale price represents the halfway point for all sales in an area — in other words, half the homes sold more than that amount, half for less. These figures include the sales of both new and existing homes.
The Portland metro housing market approached its pre-recession levels this month, according to the latest Market Action Report from RMLS.
The median price for homes sold in Portland was $299,000 in July 2014, up 9.2% percent compared to the year before according to RMLS’s numbers. And it’s the first time the median sale price has equaled the pre-recession peak in 2007.
Another sign of a strong real estate recovery recently has been number of closed sales. The Portland market posted 2678 closed sales in July 2014, up almost 2.3 percent from June 2014.
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Nick Krautter is the author of The Golden Handoff: How to Buy and Sell a Real Estate Agent’s Business which debuted number one on Amazon for mergers and acquisitions. His goal is to teach real estate agents how to grow their business and to help them later retire and benefit from their years of hard work. For the last decade Nick has been a Realtor in Portland, Oregon, where he leads a team and frequently serves as a real estate expert for the media.