Portland Real Estate,The Best Long-Term Value
According to Business Week, of the 25 biggest Metro areas in the country, Portland Real Estate has the best long-term value over the last 20 years. Looking at home prices since 1990, Portland real estate has risen 85%, adjusting for 2010 dollars. Even with prices dropping about 22% since our peak values in 2007, Portland real estate has the highest growth in value over metro areas in the analysis.
The average price for Portland real estate in 1990 was $78,000 ($130,000 in 2010 dollards). In 2010, the average price of Portland real estate was $242,000.
After Portland real estate, Baltimore (68%), Denver (65%) and Seattle (51%) are the only other metro areas with property value greater than 50% of the 1990 value. Los Angeles is just under (-1.2%) its 1990 real estate value.
Sitting at the bottom of the list is Atlanta (-21%), Sacramento (-19%) and San Bernadino/Riverside (-10%), who were the only metro areas with double digit losses in real estate property value.
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Rich Peralta is a real estate professional in the Portland Metro Area and Lake Oswego Real Estate.
He can be reached at 503.961.2181 or by e-mail at rich.peralta@exprealty.com
Originally posted on Lake Oswego Real Estate.
