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Portland area home prices continue to spike


PORTLAND TRIBUNE FILE PHOTO - Home prices continue to increase in the Portland area as the economy still shows signs of recovery.Home prices continued to increase in the Portland area in January, even though the supply of homes for sale also increased over December's record low level.

According to the Regional Multiple Listing Service, the median home price in January 2016 was $310,000, an increase of 8.1 percent over the previous January.

Prices continued increasing, even though the supply of available homes increased from 1.2 months in December to 1.8 months in January.

Prices varied throughout the region, with the highest being $440,000 in West Portland and the lowest being $216,000 in Central Vancouver.

The report can be read at www.rmlsweb.com/v2/public2/loadfile.asp?id=8716