Looking back in time is certainly not a predictor of the Future but it can help to throw a light on trends. The graph below looks at Average Sales prices for the Month of August in each of the years from 2005 through 2009. It also displays the Median Home price for the Year to date in each of those months.
The Population of North Portland in 2007 was about 50,255 for an area of aproximately 37.989 square miles ( see link to map below.)
For years I have been telling Portland Area residents that the market in Portland is not as bad as it is in the rest of the country. Perception of reality can be a very strong thing. Yes prices have fallen here in North Portland, but no where near some of the disasters that other States have had to endure.
Click for North_Portland_Oregon_Map . North Portland lies within the boundaries on the right side are between highways I-5 and 99 ( East ) and is bordered by the Willamette River at the bottom ( South ) and the Columbia River above ( North ) the division between Oregon and Washington States. Lables on the map are Arbor Lodge, Portsmouth, Cathedral Park, and St. Johns.
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Herb you are right! I personally wish the numbers in my market looked this good.
Jim,
It will be interesting to compare the charts for additional areas of the Portland market. North Portland in the 90's was a booming market in terms of price increase's. When I first started selling real estate the Average price in North Portland was only about $50 k or so where as the rest of the city was at least in the $90 k range.