Portland is seeing a comeback in the real estate market and there are several neighborhoods showing the most promise as far as an increase in real estate sales and overall price.
The Montavilla neighborhood is seeing one of the best increases in the Portland Metro area on its average listing price of around $215,000. That’s up 4.3% over last quarter. This neighborhood has dozens of homes for sale and its median home price is very similar to the average listing price which is $212,000. The median sales price is up $18,000 over last year at this time which is a 9.6 increase. This is slightly less than the average for all of Portland but still becomes a great neighborhood since it’s just outside of downtown on the East side of the river and get a great location for public transportation, shops, schools, restaurants, markets and more.
The Southwest Hills neighborhood is also considered one of the more popular neighborhoods that this is a pretty expensive area. Southwest Hills is considered North of Beaverton and West of downtown with an average listing price of about $1.2 million, up $34,000 over last year but a median sales price of about $610,000, up $85,000 over last year or 16.2% schools in the Southwest area include Ainsworth elementary, St. Thomas more school, and several public and private facilities as well with a 4 to 5 star parent rating. With a lower crime rate as well, Southwest Hills is an extra location with a variety of home prices between $400,000 and 1.5 million. These homes also run the gamut of styles and designs from newer construction to vintage estates.
Other popular neighborhoods include Powellhurst, Gilbert, Bridlemile, Woodstock, and Alameda, many of which are located in Portland’s Northeast neighborhoods. Woodstock is a great neighborhood located East of the River between the Brentwood and Sellwood neighborhoods with home prices ranging somewhere between $200,000 and $400,000, making it a great location for first-time homebuyers or those looking for a more moderately priced home. The average listing price is around $300,000, down $6000 over last year but the median sales price is a $49,000 at $294,000.
If you’re looking to buy a home with resell value these are some of the best neighborhoods currently. But there are dozens of neighborhoods in Portland to choose from with a variety of home styles, ages and prices. Fill free to browse all the listings in the neighborhoods on the right or simply call me for more details on any particular neighborhood of Portland.