Real Estate Market in Portland Experiences Fair Market Value!

Posted on: May 24, 2007

There was an article in Friday’s Oregonian about home prices in the Portland Metro Area slipping. The article disclosed the median home price change from March to April was minus .42%. A decrease in median price of less than one half of one percent can hardly be called a slip. Wouldn’t you consider that stability? The article also demonstrated that over the last 12 months most of Portland has seen price increases of 10% or better; though West Portland saw a price increase of 6.7%. I would think a headline for an article like that would indicate not slippage, but the fact that we still have an annual appreciation rate that is very valuable to home owners. With the national media constantly reporting decreases in real estate values, I am continually asked, “Is it a buyers’ market or a sellers’ market?” My answer is this, “It is a fair market!”