The Hottest Housing Market in the Portland Area is Beaverton
Posted by Alicia Smith on Friday, November 10, 2017 at 4:47 PM By Alicia Smith / November 10, 2017 Comment
What does Beaverton have in common with Milford, Massachusetts and Nashua, New Hampshire?
All three communities are in the top 50 hottest housing markets in the U.S., according to realtor.com.
The average home price in the Beaverton 97005 ZIP code is $342,800. “That's up pretty substantially -- 14.3 percent from a year ago,” says realtor.com chief economist Danielle Hale. “It’s quite a bit higher than the U.S., but lower than what we typically see in the Portland metro area, and a little bit lower than the surrounding counties.” Hale said the survey found that the average home in Beaverton stayed on the market for just 23 days, three times shorter than the national average of 71 days. “The good news is supply seems to be catching up,” Hale said. “The days on market is actually a little bit higher than it was a year ago. So maybe there's some improvement in supply relative to demand, especially in Beaverton.” Since houses are moving quickly in Beaverton and the Portland metro area experts say first-time buyers would do well to get preapproved for a home loan and use realtor.com or other housing apps so they know when houses that meet their needs come on the market. “Save that search, setting the appropriate filters, looking for the right price range and they can get notifications every time a house is listed that fits their criteria. So they’ll know within 15 minutes of a property hitting the market,” Hale said. Hale also said many baby boomers are staying put in their homes even as they retire, so new construction is where the bulk of new home purchases are going to be.