Recent Real Estate Trends

We track a variety of statistics regarding the downtown condominium market place. Since this is a fairly small piece of the overall Portland area pie, quarterly data is more meaningful than monthly.

As 2008 came to a close, the median price a downtown condo had dropped 14% from the prior year but is still up 6% from the fourth quarter of 2006. It currently stands at $345,000. Average price per sqft was $381. This value has trended downward during 2008 and has settled in at the same level we saw two years ago. Sales activity during the last three months of 2008 was the slowest level we have seen since Q1 of 2004.