Milwaukie: Portland Real Estate’s Next “Hot Spot”?

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Portland’s real estate market is definitely hot, and that’s a categorization that supersedes seasonal fluctuations. For the past several years, home values have gone up and demand keeps growing, with homes lasting just a few weeks on market before being snapped up.

Now, that heat seems to be spreading to nearby areas. Home buyers are realizing that they can get a lot more home for the same amount of money if they look outside the City of Portland and into the Metro Area. Most recently, the spotlight has been shining on Milwaukie, Oregon, located southeast of Portland along the Willamette River.

Why? Start with the new MAX light rail line that connects the two cities in a 30 minute ride. Dubbed, “Catch the Orange” it features a new bridge and updated trains. Long a popular transit choice with locals and visitors to Portland alike, the MAX is a quiet, smooth and fast train that takes the driving headaches out of commuting. The MAX Orange line just opened on September 12th, 2015, and makes Milwaukie feel more like a part of the metro area than it ever did before.

Hold a minute, though, because you definitely won’t feel like you’re in the city when you walk Milwaukie’s quiet streets. It’s a family oriented community, and there’s even an old-fashioned arcade downtown. With a nice public riverfront, it’s really a great place to hang out, get a tasty cup of coffee, and maybe do a little shopping.

Is real estate cheaper in Milwaukie? It’s hard to say exactly. This July RMLS report showed Milwaukie residential real estate prices to be lower compared to Portland, but looking at the year overall the median sales price is about the same. That doesn’t mean much, though. Portland is a huge city with many neighborhoods, where you could snag a 2-bedroom fixer-upper for under $175,000 or lay down a cool million on a nice luxury home west of downtown.

On the other hand, Milwaukie is a small, mostly working-class town with a lot less inventory than Portland. However, there are definitely homes available for every price range if you are patient and diligent in your search. But start soon – real estate experts are calling Milwaukie the Next Hot Spot.

Are you ready to invest in Milwaukie? Get a good Portland real estate agent on your side, one who specializes in helping buyers make the right decision and seeing the process through to the end. That’s just what my buyers’ team does – so get in touch today!

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