The average year-to-date home price in Portland surpassed $600,000 — a historic high for the market — according to the most recent monthly Market Action report from Regional Multiple Listing Service. The report notes the average metro sale price has increased 11.3% YTD, from $543,900 to $605,600 as of April 2022.
The report also provides average submarket sale prices for multifamily properties. Metro regions with the highest average multifamily sale prices are:
- Lake Oswego / West Linn: $1,361,500
- Milwaukie/Clackamas: $1,055,300
- N Portland: $1,043,900
The data supports another recent report from SmartAsset, a financial advising website that calculated the price-to-rent ratio among major U.S. cities. At 27.62, Portland ranked eighth on the list behind several California cities, Seattle, and Austin, but still landed squarely in the "more favorable to rent" section of Trulia’s Rent vs. Buy Index, the threshold used in the SmarAsset analysis.
No comments:
Post a Comment
Thanks for your comment! It has been sent to the moderator for review.