Average Portland home price hits record $412000

TRIBUNE PHOTO: KEVIN HARDEN - Portland's average home prices have shot up to more than $400,000, according to new RMLS figures.The average sales price of a home in the Portland region hit a new record high of $412,000 in June, up 2.4 percent from the previous month and 11.5 percent from a year ago.

The jump happened despite an increase in homes for sale in June. The 4,501 new listings were an increase of 8.6 percent over May and the strongest June for new listings since 2008, according to the new monthly Market Action report by the Regional Multiple Listing Service.

The price increase reflects the

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