According to the Portland MLS (RMLS) For the 12 months ending in July, 2006 vs. the previous 12 months, the average price in the Portland Metropolitan area appreciated 17.4% according to RMLS.  The average price rose from $263,500 to $309,400 and the median price rose from $220,400 to $260,000 for an increase of 18.0% for the same 12 month period.  The average sales price for all the sales in the month of July 2006 was $325,700 with an average market time of 38 days.  At the end of July there were 9,555 active listings listed in the MLS representing a 3.5 month supply. This is still well below the 5.5 months considered optimum and a balanced market.