Northwest Slope Housing Report for May '10

Westhaven, Catlin Crest, Sylvan Heights, Windemere & HillsideB are so perfectly situated for a quick glide down the hill into Portland, yet with crisp access to Hwy 26, 217 etc.B It’s hard to see 185 active homes on the market with only 10 selling in May. 5.4% sell through rate tells us that either every home on the hill is a dog and no reasonable buyer will consider them, or prices are just above what buyers are choosing. With an average sales price of $330k and given the proximity to town, if I was buying a home right now, I’d be all over these 6 neighborhoods! Median prices are within $30,000 of each other: 75th percentile was at $325k, 50th at $304k, and 25th was at $290k. Homes also closed at -9.9% under the most recent list price.B These stats are not going to change until home prices are adjusted and buyers choose to pay more.

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