The Real Deal New York

Portland’s priciest and slowest growing neighborhood poised to take off

The area is predicted to grow in the next 12 to 24 months
February 10, 2018 02:11PM

(Credit: Pixabay)

Though West Hills is the priciest neighborhood in Portland, it’s growth in prices has trailed behind the rest of the city.

Last year, Portland’s average sales prices rose by between 8 to 10 percentage point, while in West Hills prices increased at the highest 5 percent, according to Mansion Global. Though the neighborhood’s average home price is $600,000 compared to the rest of the city’s $425,000, prices in the scenic enclave of single-family houses remained comparatively in check.

However, Joe Reitzug from Cascade Sotheby’s International Realty Portland believes that will change soon; he expects prices will be begin rising over the next year or two and West Hills homeowners are poised to benefit.

“There will be more activity in the market and the upper end of the market will benefit the most from the increased interest,” he told Mansion Global. According to him, already in 2018 there have been double the number of sales at or over $2.5 million as there were in 2017. [Mansion Global]Erin Hudson