Hillsboro Real Estate Market 2021
Hillsboro has a significant real estate market as it is the second largest suburb of Portland, Oregon following Gresham. The sprawling suburb pops north of Highway 26 and drops south past Highway 8. Hillsboro hosts its own airport, the second busiest in Oregon. Intel has a significant presence here, the Ronler Acres Campus, and there are two massive shopping districts to choose from, Tanasborne and Orenco Station.
Want to know more about Hillsboro, Oregon? Check out our recent top 5 things you didn’t know about Hillsboro post.
Hillsboro is the Most Diverse City in the State of Oregon
No doubt due in part to the growing international Intel corporation and the accessibility of its own significant airport, Hillsboro has the honor of being Oregon’s most diverse city.
The Hillsboro Real Estate Market is the Hottest in the Portland Metro Area in 2021
- Average number of days to sell a home in Hillsboro = 9
- Average sales price in Hillsboro = $514,100
- Average Hillsboro price increase in the last 12 months = 11%
The numbers above are from the RMLS Market Action Report for July 2021.
Many of the other suburbs around Portland have appreciated more in the last 12 months, averaging closer to 15% price increases over Hillsboro’s 11%. But right now Hillsboro has the fastest time on the real estate market by far, of any of the other suburbs at 9 days to sell a home. This means, right now, Hillsboro is the fastest moving real estate market in the metro.
2022 Hillsboro Real Estate Market Forecast
We recently finished our preliminary Portland Real Estate Market Forecast for 2022, predicting a 9% increasing in home prices over the entire metro in 2022. While Hillsboro trailed behind in price appreciation from 2020 to 2021, it is now accelerating the fastest, likely due to more affordable home prices than most of the metro. We predict Hillsboro will exceed the greater Portland 9% increase and will increase by a full 14% in home prices in 2022.
|Portland Suburbs Average Sales Prices in 2021|
|1. Gresham = 478,900|
|2. Beaverton = 513,400|
|3. Hillsboro = 514,100|
|4. Milwaukie = 564,500|
|5. Oregon City = 587,600|
|6. Tigard = 625,200|
|7. Lake Oswego = 1,020,000|
There is not much room left for population growth in Hillsboro.
The Hillsboro real estate market is landlocked, meaning there isn’t much room for growth. There is almost no vacant land left to develop once the Reed’s Crossing project is finished. Hillsboro is completely surrounded by other suburbs, so they have no room to expand their borders. We believe this means buying a home in Hillsboro is likely to be a stable long-term investment.
Search for all Hillboro Homes for Sale
Right now there are 82 homes for sale in Hillsboro, Oregon, see them all here.
Hillsboro Real Estate Experts
Our team has been helping our clients buy and sell homes in Hillsboro for over eighteen years. Check out our top 1% sellers and buyers agents today. Give us a call, we stay on top of all the local real estate market trends and would love to speak with you direct.August 20, 2021