PORTLAND, Ore. — Just as during 2018, the pace of home sales slowed across the Portland metro area in 2019.
The Regional Multiple Listing Service (RMLS), which provides the data for our Hottest 'Hoods series, reported that metro-area closed sales fell 5.9 percent in 2018 and another 0.2 percent in 2019. And when you add in Clark County ZIP codes, as we do for Hottest 'Hoods, sold homes dropped 9.7 percent last year to 32,691.
It's also taking much longer to sell homes (watch for the upcoming fastest-selling 'Hoods), but prices have kept on rising (we'll post our highest-priced 'Hoods soon).
SLIDESHOW: Most homes sold in 2019
Nevertheless, some ZIP codes bucked the trend and experienced a boost in home sales last year. Among the top 25 in the gallery above, 98642 in Ridgefield, Washington, had 25.7 percent more sales and jumped 8 spots in the ranking. It was followed by Camas (98607) and Battleground (98604), Washington, Gresham (97080) and Hillsboro (97123), which had 15.8 percent, 12.5 percent, 12.3 percent and 9.2 increases, respectively.
Nine of the top 25 saw decreases in home sales, led by Tigard/King City with a 12.3 percent drop, falling five ranks. Overall, though, the 23 ZIP codes that ranked in both 2018 and 2019, had a 1.6 percent increase in sales.
The two neighborhoods that fell out of the ranking this year were 97070 in Wilsonville and 97230 in Hazelwood/Fairview, replace by 97035 in Lake Oswego and 97086 in Happy Valley.
The suburbs, where home inventory has been higher, continued have the edge over Portland city ZIP codes, where only nine of the top 25 'Hoods were located.
The Portland Business Journal is a KGW News partner.