Tuesday, March 3, 2009
While most people here are interested in the monthly RMLS reports and Case Shiller data, what they really want to know is "how is my neighborhood holding up?"
To answer this question I was able to get a year over year view of median prices for the Portland market by RMLS neighborhood for January 2009, and the results are interesting. (click on the chart for a larger view)
 Tom at Agent503 has year over year data for a few zip codes here.
A few highlights:
For the 4 inner Portland neighborhoods, NE Portland is holding up the best with median prices down 1.8% from Jan 09 vs Jan 08.
Columbia County is faring the worst, with median prices falling 26% in Jan 09.
If you're interested in a beach house, coastal prices are down 17.4%.
The overall Portland market is down 10.7% year over year.
I'd love to hear your thoughts on the 'why's behind the differences.
Next up I'm going to look at why I belive the RMLS methodology for calculating growth rates is seriously flawed, and why you should ignore them - something I have mentioned repeatedly. I will also look at sales rates by neighborhood. Stay tuned!