As in the past 22 years in a row now Portland home prices continue to rise.

In the 12 months ending in November, 2007 vs. the previous 12 months, the average price in the Portland Metropolitan area appreciated 6.5% according to RMLS.  The average price rose from $320,100 to $340,900 and the median price rose from $270,000 to $288,900 for an increase of 7.0% for the same 12 month period.  The average sales price for all the sales in the month of November 2007 was $344,500 with an average market time of 67 days.  At the end of November there were 14,435 active listings listed in the MLS representing a 8.3 month supply of homes. 5.5 months is considered optimum and to be a balanced market.

A chart with year over year comparisons can be found at www.roblevy.com/newsletter.asp