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Portland Seattle

Tuesday, February 16th, 2010

Portland Seattle

Homes For Sale In Portland Actually Show An Increase Over 10 Years

Overview of the City of Portland

The city of Portland covers 134 square miles altogether, slightly smaller than Denver and quite a bit larger than Seattle: it lies at an altitude of 1073 feet above sea level. The mean daily temperature ranges from 68.2o F in July to a low of 39.6o F in January. As with any large city there is quite a cosmopolitan feel to Portland, with all denominations and ethnic groups represented here. Whether you decide to purchase Portland real estate downtown or on amongst the suburban highlands' location, at present there is plenty of choice, with many homes for sale in Portland.

The more unusual kinds of Portland real estate can be found to the west of the city. Here you will find homes for sale in Portland built up on stilts or, alternatively, built into the hillsides. These hillside homes are often built into the hillsides at odd angles, or wrapped around the rising ground of a hill, with a basement actually built into the hillside itself. Homes for sale in Portland on the east side are totally different. These properties follow the grid system of the city, either north-south, or east-west. One of the more usual designs for these east side properties constitute an open floor plan, especially spacious porch, built over a single floor as in a bungalow. Homes built to this design tended to appear in the earliest parts of the 20th century and are now referred to as Old Portland properties.

House Prices

We all know that house prices took a tumble from their 2008 high and homes for sale in Portland that sold for $478,500 in 2008 were selling for around $420,500 if they were selling at all. These were the prices revealed in West Portland: the North, Northeast and Southeast of the city also revealed similar falls in housing prices. Portland real estate in Lake Oswego went from $541,300 in 2008 to $486,300 in 2009. If we thought that was bad, Milwaukie and Clackamas Counties both experienced reduction in house prices of 9.5%.

Clark County and Cowlitz County both exhibited an increase in completed sales during 2009: these were up by 13.8%. Although total sales volume was reported as being $1.2 billion during 2009, comparing very closely to that of 2008, the volume of sales for new listings actually fell by 23%. Even worse for the Portland real estate market, statistics revealed a 14.5% drop in the cost of the average house price when compared to comparable prices in 2008.

Foreclosures

According to figures released by Realty Trac, Portland real estate that foreclosed during 2009 was up by 21% on 2008. In fact, if you take the figures for the whole of the US, 2.2% of households received a foreclosure notice during 2009. The State of Oregon fared no better than other States: foreclosure figures for Oregon was up by 303% from 2007 and up by 89% on 2008.

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