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Portland Business Journal Reports:

"The Portland area did its part to drive the gains.

Local home prices were up nearly 12 percent in March compared to a year ago and are closing in on their pre-recession peak. As of March, local home prices are about 13 percent lower than they were in July 2007, a far smaller gap than the gap of more than 30 percent recorded in March 2012."

"Las Vegas and San Francisco led the nation with gains of about 21 percent while Cleveland held up the rear at 3.9 percent.

“Despite signs of decelerating prices, all cities were higher than a year ago and all but New York were higher in march than in February,” said David Blitzer, chairman of the index committee. Portland was one of four cities that is “fairly” close to recovering its pre-recession prices, the others being Boston, Charlotte and San Francisco."

In a related PBJ article staff writer Wendy Culverwell:

"The summer buying season has barely started and the noose already is tightening around Portland’s residential real estate market.

Portland posted one of the tightest markets in recent years in April as the inventory of unsold homes dropped to a 2.8-month level, well below the five to six months that is considered balanced. That ties with the record set last July, according to figures released Tuesday by the Regional Multiple Listing Service.

April’s average sale price of $332,600 was 9.9 percent higher than a year ago and 1.4 percent more than in March. For the year to date, home sales are averaging $325,100, 10.7 percent more than the same period in 2013."

This beautiful city is becoming very popular and we understand why. We first moved to Portland in 1994 and Niles began working in the trades mainly with older and some historic properties in town. The city has changed so much, but is still home.

We love our 1906 Victorian in SE PDX and continue to change the home to meet our needs. Remodeling can add so much value to your home, as well as the space you need to remain nestled inside Portland.