August, 2016 Market Update: Portland, Oregon
[caption id="attachment_7591" align="alignright" width="300"] Graph of price per square foot. [/caption] Home values in Portland, Oregon may have hit their seasonal high in August, 2016. Median list prices are hovering $519,000 with asking price per square foot plateaued at $223-. Days on market is also holding at around 59 days. The words "hovering" and "plateau" will likely be ubiquitous among conversations with Portland Realtors as we seek to explain the metro area's pattern of seasonal price fluctuations. In any event, prices and the local housing market can be described as hovering at a plateau currently and many believe this is indicative of normal, seasonal changes in housing market conditions. Some market observers believe that the very recent past is a predictor of the future and feel that the housing market…