Once again, we're donning our infrared goggles and scanning the Portland metro area's horizons to find the neighborhoods where the most homes sold at the fastest clip for the highest prices.
It's our residential 'Heat Index' for the first quarter of 2018.
Click on the link above to see if your neighborhood ranks among the top 50 in Portland for overall real estate activity.
Thanks to data from RMLS, we examined the top ZIP codes in the Portland region with total sales, average sale price and average days on market equally weighted. Only ZIP codes with 30 or more sales last quarter were considered.
Overall, the market cooled slightly compared to Q1 2017. Total sales fell 1.8 percent to 5,977 and average time on the market lengthened 2.6 percent to 60.3 days.
Price appreciation did not cool down, however, with average sale price growing 6.2 percent to $442,027 versus the same quarter last year.
Residential enthusiasm in the Pearl may be waning a bit. The No. 1 ZIP code in Q1 2017 was 97209 (Pearl/Old Town) but it fell to No. 21 this quarter with total sales dropping by nearly half to 81 and average days on market tripling to 63.
Meanwhile, several more suburban neighborhoods moved up into the top 10 this quarter from the 20-plus range in Q1 2017. These include 97070 (Wilsonville), 97225 (Cedar Hills/Raleigh Hills), 97267 (Oak Grove/Oatfield) and 97045 (Oregon City/Happy Valley).
Click on the link above to see where they — and your neighborhood — landed.