Portland’s Top 25 Hottest Neighborhoods
Each quarter, we gather together Portland home sale figures to answer one question: How hot is the Portland real estate market?
For the second quarter, the answer appears to be a definitive “It’s still cooking. Nothing to see here.”
According to the Regional Multiple Listing Service, the de facto source for residential real estate listings, the greater Portland region witnessed a stellar 7,593 home sales in the second quarter, up from 4,944 in Q1. Year-over-year, second quarter sales were down slightly from the 7,743 in 2013’s second quarter. While the top five neighborhoods remained the same from the first quarter (with one Southeast Portland area climbing a spot to fourth), there was a fair amount of jostling in lower positions in our analysis of the 25 ZIP codes with the most sales. One notable trend: Only nine of the 25 top neighborhoods fall inside Portland city limits, with the rest in area suburbs and nearby cities. In the first quarter report, 12 of the 25 top ‘hoods were inside Portland proper. Southeast Portland led the list of quadrants inside city limits with three neighborhoods, while Northeast and North Portland counted two apiece. Later this week we’ll continue to slice apart the second quarter figures, examining where homes are selling the fastest (least average days on the market) and for the most money (highest average sale price).
25. Sherwood: 97140
Homes Sold: 119
24. Oak Grove/Oatfield: 97267
Homes Sold: 121
23. Newberg: 97132
Homes Sold: 121
22. McMinnville: 97128
Homes Sold: 123
21. Lake Oswego: 97034
Homes Sold: 126
20. Powellhurst – Gilbert/Centennial: 97236
Homes Sold: 128
19. Gresham: 97080
Homes Sold: 133
18. Lake Oswego: 97035
Homes Sold: 143
17. Piedmont/Concordia: 97211
Home Sold: 144
16. Mount Tabor/Hollywood: 97213
Homes Sold: 154
15. West Linn/Lake Oswego: 97068
Homes Sold: 155
14. Arbor Lodge/Kenton: 97217
Homes Sold: 168
12. Gaston/Sherwood: 97123
Homes Sold: 171
12. Happy Valley: 97086
Homes Sold: 171
10. St. Johns: 97203
Homes Sold: 172
10. Sellwood/Eastmoreland: 97202 Homes Sold: 172
9. Tigard/Tualatin: 97224 Homes Sold: 177
8. Hillsboro/Rock Creek: 97124 Homes Sold: 191
7. Beaverton/Raleigh Hills: 97223 Homes Sold: 195
6. Multnomah Village: 97219 Homes Sold: 216
5. Oregon City/Happy Valley: 97045 Homes Sold: 222
4. Foster/Powell: 97206 Homes Sold: 227
3. Beaverton/Aloha: 97006 Homes Sold: 294
2. Beaverton/Aloha: 97007 Homes Sold: 316
1. Forest Heights: 97229 Homes Sold: 371
Courtesy of the Portland Business Journal.
