By Andy Giegerich, Portland Business Journal
Could this be the end of Portland’s so-called hot housing market?
Indeed, the total number of sold listings — 31,718 — in RMLS’ Portland region dropped by 3.6 percent between 2016 and 2017. That figure follows a 1.1 percent drop the previous year.
Yet the data, which we used to calculate four Hottest ‘Hoods categories (we’ll roll them out throughout the week), might not be as bad as it seems: The tallies posted in 2015 were a peak year for Rose City-area home sales.
The Hottest ‘Hoods full-year data for 2017 covers overall home sales (which we’re releasing today), the areas where homes sell the fastest and the highest average home sales prices in 25 neighborhoods.
Among the findings:
- The top overall neighborhood in terms of total home sales logged nearly 50 percent more sales than its closest competitor.
- Neighborhoods west of the Willamette River commanded seven of the top 10 home sales slots.
- Among the top 25 ZIP codes for 2017, home sales only dipped -2.2 percent
- Just one zip code, 97035 in Lake Oswego, dropped out of the overall sales list. It was replaced by Lents, or 97266.
- The biggest year-over-year climbers in the top 25 were St. Johns and neighborhoods in Wilsonville and Sherwood.
- Portland contributed just over half — 13 — of the top 25 home sale ZIP codes among the region’s top 25 neighborhoods.
Click through on the picture above to learn which neighborhoods logged the most residential deals in 2017. And check later this week for more stories detailing exactly how well Portland’s real estate market fared during the past year.