Hillsboro Real Estate Market Update
The Hillsboro area is located west of downtown Portland between Forest Grove and Beaverton just off Highway 26. It's about 20 to 30 minutes from downtown depending on traffic and is become a popular place for Portland employees to call home. With over hundred properties for sale at any given time, the Hillsboro area has shops, restaurants, markets and daily necessities as well as some excellent schools including the Patterson Elementary, Farmington view Elementary and the Orenco Elementary, rated as some of the best schools in the town.
As with many small town surrounding the Portland Metro area, Hillsboro has seen its share of housing market increases. The median home prices about $280,000 with an average price per square foot of roughly $175. The median rent in this area is about $1700.
Days on the market for Hillsboro are typically between 45 and 75 days. Inventory has increased over the last year and the median house size remains fairly the same at around 2100 ft.². There are very few distressed properties (short sales, foreclosures) on the market at this time, quite unlike how they were just 10 years ago.
Homes, condominiums and townhouses and Hillsboro start at about $120,000 and can reach as high as $2 million for larger estates, several acres or larger, luxury homes. Townhouses and condominiums started about $120,000-$400,000 and single-family homes start about $200,000 on up. There are a few condominiums in townhouse units in Hillsboro but you won't find any high-rise luxury apartments or condos like you would in downtown Portland. Most of the multifamily properties in Hillsboro include small complexes of townhouses with no more than about three stories, ground-level garages and spaces between 700 ft.² and 1200 ft.².
The following market report for Hillsboro shows all active listings, 20 at a time, for the Hillsboro area. These are the newest listings and this report is updated daily. Following that are the pending sales, meaning those listings that are currently under contract. These properties could receive a backup offers so if you find something you're interested in, it doesn't necessarily mean you can't make an offer. And finally, at the bottom of the list is all sold homes within the last six months. The first 20 are listed in each of these categories but you are welcome to click the view all button at the bottom to browse all listings both pending, under contract, sold and currently active for sale. If you'd like more information on any of the properties listed here feel free to contact me today. If you'd like to schedule a showing, give our office a call. We'd love to help you find the perfect home in Hillsboro or if you're looking at selling your home, this gives you a good snapshot as to what selling and how fast. The above image is courtesy of the local MLS of an actual listing in Hillsboro.