For the 12 months ending in August, 2007 vs. the previous 12 months, the average price in the Portland Metropolitan area appreciated 7.8% according to RMLS.  The average price rose from $313,000 to $337,400 and the median price rose from $263,700 to $283,500 for an increase of 8.1% for the same 12 month period.  The average sales price for all the sales in the month of August 2007 was $366,900 with an average market time of 57 days.  At the end of August there were 15,782 active listings listed in the MLS representing a 6.2 month supply of homes. 5.5 months is considered optimum and to be a balanced market.

The chart below shows the Average Sales Price for the Portland Metro area as compared to last year.