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The Lockwood Report: Daily 97205 Housing Market Update for Nov 11th, 2018As of Sunday, Nov 11th, 2018, in 97205 there are a total of 39 active residential homes for sale, 12 pending listings and 4 properties sold in the most recent 30 day period. The average list price for all active residential listings in 97205 is $527,413, while the average asking price for properties new on market in the last 30 days is $508,525. Residential homes for sale in 97205 sold at an average price of $381,763 while newly listed properties came in higher on average, at $508,525.
New listings in 97205 are outpacing sold properties. For the most recent 30 day period, 4 properties sold and 8 came on the market. In summary, new listings outpaced sales by 4. As a point of reference, in the month prior, there were 8 sold 97205 residential listings while 9 homes for sale became available on the market. Keep an eye on the number of pending listings (currently 12) because an increase in pending sales may offset an increase in new listing inventory.
*A zero result on the above 97205 graph means that no properties sold in the respective price range during the month indicated.
Today we’re looking at the Top 10 most expensive areas in the Portland real estate market by zip code. The neighborhoods and communities in each of these zip codes all feature luxury homes, properties with views and all of the high end amenities today’s most well-qualified home buyers expect. Perhaps you’re in the market for a fine custom home, or maybe you’re just window-shopping to pass the time. Either way, happy house-hunting from Exclusive Portland Real Estate. The list is sorted by zip code and listed in order by median asking price (low to high). Note that this list is for Portland Neighborhoods and doesn’t include ultra-luxury Dunthorpe, Oregon because that area is unincorporated outside of Portland’s city limits. Another luxury area just outside of Portland is the town of Lake Oswego, which currently features one listing with an asking price of a whopping $15,000,000. With those caveats out of the way, here are the most expensive Portland zip codes by median asking price:
- Zip Code: 97225 (West Haven-Sylvan, Cedar Hills, West Slope & Raleigh Hills. )
- Median List Price: $675,000. Most Expensive Listing: $2,999,000. Least Expensive Listing: $359,000. Average Days on Market: 50 days.
Details: There are currently about 41 homes on the market with pricing mostly stable except for the fact that luxury homes in this area have gone up in price much more quickly in recent times. Inventory is rising but sales are strong as well which means that buyers will have to move fast on available listings but will have some options available. Below are a few listings in West Haven-Sylvan and Raleigh Hills.
- Zip Code: 97229 (Bethany & Cedar Mill)
- Median List Price: $719,950. Most Expensive Listing: $1,950,000. Least Expensive Listing: $350,000. Average Days on Market: 97 days.
Details: As of this publication there are around 143 property listings on MLS for the Bethany & Cedar Mill neighborhoods in Portland’s 97229 zip code. Average market time is dropping and all housing data quartiles are hovering at a plateau at the moment. It’s definitely still a seller’s market but at least for the moment asking price per square foot and median prices have stabilized. Median home size for Bethany & Cedar Mill is around 3,200 square feet.
- Zip Code: 97221 (Bridlemile, Hayhearst, West Hills)
- Median List Price: $749,900. Most Expensive Listing: $3,800,000. Least Expensive Listing: $429,000. Average Days on Market: 75 days.
Details: Right now we have 29 listings for the Bridlemile & Hayhurst neighborhoods of the 97221 zip code. Inventory of listings available on MLS has been increasing as of late and the median list price has dropped a little. It could be that a few sellers in this neighborhood are in the mood to make a deal, with the most significant increase in new listings on the more affordable end of the price range.
- Zip Code: 97212 (Irvington Neighborhood)
- Median List Price: $749,000. Most Expensive Listing: $1,450,000. Least Expensive Listing: $489,000. Average Days on Market: 54 days.
Details: As of this week there are currently 41 listings in Portland’s Irvington Neighborhood with the strongest sales of residential homes in this area area around the $875,000- price point, with more affordable entry-level homes in the $550,000- price range also selling fast. Inventory is increasing but days on market is also dropping and these two opposing sides of supply and demand seem to be balanced out for the moment.
- Zip Code: 97232 (Sullivan’s Gulch & Laurelhurst Neighborhood)
- Median List Price: $769,000. Most Expensive Listing: $1,450,000. Least Expensive Listing: $399,900. Average Days on Market: 34.
Details: The biggest story for Portland’s Laurelhurst neighborhood is the super-low days on market. At 34 days, Laurelhurst homes for sale are proverbially “flying off the shelves” and Realtors can’t keep enough inventory in stock despite an increase in the number of properties listed. The most expensive listing for sale in Laurelhurst at any given time isn’t always a chart topper because homes in the neighborhood are rarely sold at all. With only 10 homes available in the neighborhood, it goes without saying that these properties are highly regarded for their timeless aesthetic and close-in location. If you’d like to live in one of these rare and elegant homes please call me to get started.
- Zip Code: 97239 (Neighborhoods in Southwest Hills: Hillsdale, Corbett-Terwilliger-Lair Hill, Healy Heights)
- Median List Price: $875,000. Most Expensive Listing: $2,895,000. Least Expensive Listing: $385,000. Average Days on Market: 68 days.
Details: Portland’s West Hills are synonymous with fine luxury homes featuring some of the best views in Oregon, not to mention close-in living with easy commutes to downtown Portland. Realtors have been listing more homes for sale in the area ranging from the high 300’s but quickly moving up to 3 million for more luxury living. Healy Heights & Lair Hill homes in the lower pricing tiers have been selling somewhat faster, so perhaps the seller of that high end Corbett-Terwilliger mansion you’ve been eyeing is willing to negotiate, call me and let’s find out if the price has some “wiggle room”.
- Zip Code: 97231 (Holbrook, Burlington Neighborhoods, Forest Park)
- Median List Price: $995,000. Most Expensive Listing: $4,900,000. Least Expensive Listing: $290,000. Average Days on Market: 144 days.
Details: With 15 listings for sale near Portland’s iconic Forest Park, it makes sense that these homes would come at a premium. Miles of wilderness trails for running, hiking and sightseeing in Forest Park provide local residents with a much needed respite from fast-paced city life. Listing turnover is a bit slow in this area compared to other Portland neighborhoods so you may find a seller here and there who might negotiate on price a bit. On the other hand, when someone lives in NW Portland, OR they may be reluctant to give up such a wonderful place to live so easily. If there’s a home in Northwest Portland you’d like to tour please call me immediately.
- Zip Code: 97210 (Northwest Portland: Hillside, Kings Heights, Willamette Heights, Slabtown, Northwest District)
- Median List Price: $1,090,000. Most Expensive listing: $1,795,000. Least Expensive Listing: $525,000. Average days on Market: 47 days.
Details: days on market has dropped down to a very low 47 days in the Hillside and Slabtown neighborhoods of NW Portland. Inventory of homes for sale is on the rise but with a median list price north of one million dollars puts these homes out of the budget of many buyers. That said, homes in Hillside and Kings Heights and all around the Northwest District are selling quickly so if you see one you like call me so we can get to work on it. With listings in Portland it’s usually a “here today, gone tomorrow situation”.
- Zip Code: 97201 (West Hills, Portland Heights)
- Median List Price: $1,250,000. Most Expensive Listing: $4,098,000. Least Expensive Listing: $575,000. Average Days on Market: 206 days.
Details: Portland Heights is the 2nd most expensive neighborhood within Portland city limits based on median asking price and it shows. Inventory is selling mainly around the eight hundred thousand to million dollar range but there is some movement in the top half of the market which is generally around the two to three million dollar mark. Close-in view properties are the name of the game here. And, if they’re in budget you’ll be proud to call one of these masterfully crafted homes while waking up every morning to an amazing view of Mount Hood and Downtown Portland.
- Zip Code: 97205 (Arlington Heights & Goose Hollow)
- Median List Price: $1,579,000. Most Expensive Listing: $2,749,000. Least Expensive Listing: $989,000. Average Days on Market: 45 days.
Details: Goose Hollow and Arlington Heights tops our list of the top ten most expensive neighborhoods in Portland, Oregon. Located near the heart of downtown, these classic homes have withstood the test of time and continue to provide an exceptional quality of life. Many of the Properties in Arlington Heights and Goose Hollow feature custom, hand-built finish work throughout with a pride of construction that you just don’t see in today’s McMansions. If you’re in the market to purchase a home in this price range please call me to book your own tour of everything Goose Hollow has to offer.