Which ZIP codes excelled in Multnomah County?
In every metro area, there are a number of communities that feature stronger-than-average housing statistics. Whether home values are up, delinquency rates are down or inventory is low, each ZIP code has its own characteristics. If potential homebuyers are considering one of the homes for sale in Portland in Multnomah County, they may want to target these three zip codes that excelled.
Here are three ZIP codes to check out:
1. 97209 ZIP code. This ZIP code had a median second quarter home price of $334,750 in 2012. This is a 21.7 percent price improvement compared to the same time the previous year. Broken up by square feet, the median cost was $307, according to real estate market research firm DataQuick. The ZIP code covers approximately one square mile, where the most recent average asking price was found to be $436,753, compared to the average sales price of $466,639, claims ZipDataMaps.
2. 97214 ZIP code. Also within the Portland boundaries, this area features beautiful homes. The median sales price for the second quarter of 2012 was $376,750, according to DataQuick. The 14.8 percent increase in price is a sign of the overall improving market. ZipDataMaps report the August 2012 average real estate asking price is $456,647, while the average sales price is lower at $358,808.
3. 97216 ZIP code. This ZIP code contains an affordable area. According to DataQuick, the median sales price for a home during the second quarter of 2012 was $173,000, after undergoing an 11.6 percent price increase within the past year. The average cost per square foot for a home was $141. However, it seems that property sale prices have slightly decreased, according to ZipDataMaps. The average real estate asking price is $164,649, while the average sales price remained closer to $162,093. It appears as if the affordability of this neighborhood is attracting attention with local residents. In 2000 there were 13,142 people in the ZIP code - this increased to 15,594 by 2010.
Portland residents looking to move into a new neighborhood may want to consider breaking up their search by ZIP code to get a better picture of the local community.