Year 2016 Residential Highlights

Portland Area Housing Market Tops the List.  According to Zillow, the Portland area had the nation’s fastest growing housing prices in 2016.  Zillow said that the average Metro-area home value rose to $354,000 in December, marking a 13.8% increase from December 2015.  In related news, the S&P CoreLogic Case-Shiller Composite Home Price Index reported Seattle, Portland, and Denver scored the highest 2016 year-over-year gains among the 20 cities in the index; among the 20 largest cities in the US, just Portland and Seattle saw double-digit appreciation in 2016.

 

2016 Average and Median Sale Prices.  Comparing 2016 to 2015 through December, the RMLS of Oregon reported that the average Portland-area home sales price rose 11.4% from $354,500 to $395,000.  In the same comparison, the median sale price rose 12.7% from $308,000 to $347,000.  (I see the discrepancy between the Zillow figure and the RMLS figure and I’m at a loss to explain it.  Shannon)