The Portland neighborhoods with the most $1M home sales

Since June 1, 261 homes in the Portland-Vancouver area were sold for at least $1 million or more.

Which is an indicator that Portland's higher-end home market, while hardly as robust as locales like San Francisco that sport hangar-sized abodes, is coming into its own. The sales remain strong even though overall home prices cooled a bit over the summer.

VIEW SLIDESHOW: Portland's $1M home sales

The scenario mimics trends spotted earlier this year by the real estate researcher Redfin, which reported that luxury home prices rose by 4.2 percentduring 2017's first quarter.

In contrast, the latest Market Action report from the Regional Multiple Listing Service revealed that closed sales of overall homes were down more than 12 percent between July and June.

We took a look at the several pieces of data, including the neighborhoods where the most homes sell and the highest-priced homes within those areas, culled from American Cities Business Journals. We chose June 1 as a cut-off point because it's, calendar be damned, the unofficial start of the busy real estate selling season.

Our data indicates that:

  • Among the 222 sales listed for which Zip codes were included, the highest priced home, in West Linn, attracted $6.65 million.
  • Among all $1 million-plus sales made since June 1, the average price was about $2.06 million.
  • Portland hosts eight neighborhoods within the top 15 areas (detailed in the gallery above) with the most $1 million home sales. Lake Oswego has three such areas.
  • However, the homes are also spread out throughout the region, with 43 percent sitting in Zip codes other than those within the top 15 areas.

The Portland Business Journal is a KGW News partner.

© 2017 KGW-TV


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