Gresham, Oregon - Real Estate Market Update

Gresham, Oregon is located just east of Portland. Gresham residents enjoy a superb quality of life, with abundant opportunities for community involvement, culturally diverse community events and readily available urban amenities and recreational opportunities. Outdoor enthusiasts will find ample opportunities for outdoor fun in and around Gresham. Hundreds of camping options lie within a short drive of Gresham, from primitive tent-only sites to full-service campgrounds with boat launches and equestrian facilities. The Gresham area offers a wide variety of tourist activities and shopping opportunities for residents and visitors.

Take a short trip to the nearby scenic Columbia River Gorge or Mt. Hood National Forest for spectacular views and outdoor activities. If your plans involve shopping, stop by the city's farmers market or one of downtown Gresham's one-of-a-kind boutiques. Or head to Gresham Station to browse over 50 nationally known shops and restaurants.

Estimated population 101,015 (2009 Portland State University Population Research Center estimate).

As of 4/20/10 there were 455 active, detached residential listings in the city of Gresham, Oregon shown in the Regional Multiple Listing Service.

Listing prices range from $120,000 for a 3 bedroom, 2 bath, short sale built in 1972 with 1,174 sqft.

To $1,450,000 for a 3 bedroom, 3.5 bath dayranch built in 2000 with 4,757 sqft and situated on 9.73 acres. Home includes an additional 1,400 manufactured home. Land in UGB, Pleasant valley plan, R5/R10 zoning.

The majority of properties are in the $155,000 to $575,000 price range.

26 of the listed homes show as being bank owned (REO) foreclosures. 104 of the listed homes show as being short sales, where more is owed on the home than the anticipated market value. These statistics reflect that distressed properties compose approximately 28.57% of the listed market in Gresham, Oregon.

There are currently 115 properties listed with 3 bedrooms and 2 bathrooms ranging from $120,000 to $513,000. After removing the top and bottom 10 listings each, we come up with 95 homes ranging in price from $169,000 to $334,000. With the average list price being $227,466 with an average of 1,607 sqft.

At 5% interest rates and a definite buyer's market mentality it is a great time to negotiate a deal of a lifetime on your "Dream Home". Give me a call today for personal attention and a "get it done" attitude!

Best Regards,

Donn Rasch
Real Estate Broker, CDPE
State Licensed Appraiser
RE/MAX Equity Group, Inc.
503-658-5000
http://equitygroup.com/drasch