A comfortable suburban town in the Portland metro area, West Linn has seen a steady population increase for the last 20 years, mirroring Portland’s popularity rise. In terms of real estate, this high desirability translates to an increasingly competitive market with prices on the rise.
West Linn, Oregon Real Estate Stats
The most recent statistics indicate that the current average home price in West Linn is $539,000; that’s a 2.7% increase since last year with homes selling at just .8% under list price. What’s more, the price per square foot has jumped even more dramatically in West Linn to reach an average of $222, which is a 3.7% increase over last year.
Homes in West Linn generally only spend about 19 days on the market before they’re snatched up. The median age in West Linn is 43 years old—10% higher than the national average. This stands to reason consider the cost of living is 34% higher than the national average, as it would be difficult for someone without savings to acquire a home here.
As a suburb known for its affluence, it’s hard to find housing in the area that falls much below the average price in any neighborhood.
West Linn Real Estate Market Forecast for 2019
Painting with a broad brush, the current real estate market in West Linn is great for both ends of the spectrum. That’s because it’s neutral (neither a buyers’ nor a sellers’ market), and it’s expected to pretty much stay that way. Home values are projected to increase by .5% in the next year as compared to 2.4% in the previous year, so the market appears to be leveling out to some extent.
The good news for buyers is that interest rates are currently at their lowest point since the beginning of 2019, and have been trending down for the most part in the last 8 months with the exception of a few spikes.
West Linn is considered one of the most up and coming regions of the Portland metro area, so buyers can count on their homes increasing steadily, even if it is at a somewhat slower rate than in previous years.
Helpful Links When Moving to West Linn, OR
Moving to a new city inevitably comes with its fair share of stresses, but there are abundant resources available to help West Linn transplants get an idea of what they can expect in their new home town.
City of West Linn, Oregon — for some quick facts about the city, in-depth information about neighborhoods, or contact information for the city government departments, check out the West Linn website directly.
Portland Relocation Guide — for information about things to do, as well as some of the highlights to check out after moving to West Linn, the Portland Relocation Guide has compiled this handy resource on West Linn.