Portland Real Estate Market

Our local Portland real estate market is always changing. It takes a very busy real estate agent, top 1% in Portland, to keep a finger on its pulse. We write Portland housing market forecasts twice a year, an annual best month of the year to sell or buy a home article, population growth articles, Portland development articles, articles on real estate market trends, housing affordability, articles on Realtors themselves, and much more. Enjoy!

portland real estate density infill

A 6,000 Square Foot, 35 Foot High, Six-Plex can be built next to Your Portland Home.

September 13, 2021

The Portland residential infill project is now live. The high density Portland plan went into effect August 1st, 2021. Initial public comments on the revolutionary, highly contested plan exceeded 15,000. The details of the plan are so extensive, the City of Portland has assigned a dedicated phone number and email for it, and the RIP PDF manual is nearly 300 pages long. Portland Residential Infill Project Map Most of Portland city proper is affected by the RIP plan and most areas will allow a 6,000 sq. ft. Six-plex to be built next to your Portland home. These huge buildings won’t be restricted to busy streets or street corners. One can expect to see them pop up next to any home...

beaverton real estate

Beaverton Real Estate Market and Forecast for 2022

September 6, 2021

The Beaverton Real Estate Market is Cooling Off You can see the fall cooling effect on the Beaverton, Oregon real estate market above in slowly increasing inventory numbers, increasing average days on market, and increasing price drops. The Portland metro real estate market is seasonal and this cooling is expected each fall. The seasonal aspect of the real estate market here is so strong we write an annual report, a month-by-month break down of the best times to buy or sell. Cooling off here is a relative term as the market still favors sellers overall at the moment, but it will continue to soften as we approach the holidays. The Beaverton Real Estate Market September 2021 The Beaverton real estate...

portland real estate market fall

Portland Real Estate Market Fall 2021 Update

August 27, 2021

The Portland real estate market has been on a tear, following a national estate trend for 2021. Portland proper and all metro suburbs are up in price this year from 10% to 20%. See how each Portland suburb market has fared so far in 2021 here. This is after the Portland real estate market was cooling (from 2017 to early 2020) and looked like it would end up cold by 2022. Instead, due of course to the national COVID19 impact, we are predicting a positive increase in Portland housing prices in 2022, and currently, there are no national real estate industry partners forecasting a drop in the 2022 national real estate market. The Portland Real Estate Market Cools in the...

hillsboro real estate market

Hillsboro Real Estate Market 2021

August 20, 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...

portland real estate forecast 2022

2022 Portland Real Estate Market Forecast (Prelim.)

August 13, 2021

The Portland real estate market has been on a wild ride since early 2020. The real estate market here was actually slowing and becoming more affordable back in 2017, and that trend continued until the pandemic hit. Year zero, or 2020, was the most unusual in my real estate career (licensed for 18+ years now in town). 2021 returned to seasonal selling norms (slow in winter, fast in spring, slower in the late summer months), and those market trends look like they will continue in 2022. Every year since 2003 (when I started keeping track) the Portland real estate market has followed the same seasonal trends, even in the previous hottest (2006, 2016) or slowest years (2008-2011). So if you’re...

portland real estate market

Top 5 Portland Real Estate Market Stories of Summer 2021

August 2, 2021

It’s been a roller coaster ride of a year for the Portland real estate market. After over a year of a global pandemic, demand for single family housing shot through the roof, and Portland’s supply struggled to meet that demand. All year we’ve been monitoring the effects of this situation on the market. Accordingly, the top real estate market news stories of 2021 tend to revolve around the inventory crisis. Keep reading to find out crucial takeaways from the market so far this year. 1. Low Inventory Drives Home Prices Up Since the year’s start, inventory in Portland has hit record lows, the lowest point being May. Our monthly RMLS report calculates the ratio of new listings to closed sales...

affordable portland suburbs

5 Most Affordable Portland Suburbs in 2021

July 30, 2021

Unless you’ve been living off the grid, you’ve likely heard that soaring home prices have plagued the Portland metropolitan area – and the country – all year. So of course, the question of affordability looms. How much longer will home prices keep shooting up? Will this mean that Portland no longer ranks as an affordable area to live in? And the truth is that Portland’s affordability does appear to have taken a hit. So while we write this article once a year, this year the topic is more pressing than ever. Suburbs provide an excellent alternative to living in city limits for many home buyers. For one thing, you’re bound to be able to afford more space. And while we...

June Home Sales in Portland Real Estate Market Beat Out Past 10 Years

July 23, 2021

If you’ve read this blog at all this year, you know that one of the biggest stories we’ve been following is Portland’s low inventory. Yet if you read the title of this post, you know that home sales are still going through the roof. So how do these two truths not contradict? First, let’s talk about what inventory means. When we quote an inventory number, that number comes from our monthly RMLS reports. It’s calculated by dividing the number of active residential listings at the end of the month by the number of closed sales for that month. So you’re looking at a ratio: when it’s under 1.0, that means more homes sold than came on the market. For June,...

how many days to sell a home

How Many Days to Sell a Home in 2021?

July 19, 2021

In case you haven’t already heard, 2021 is a great year to sell a home in the Portland real estate market! But just in case you’ve been living under a real estate rock, here’s a quick catch up. Inventory has been hovering at a notorious low, because homes are selling faster than new listings come up. Now, typically the real estate market starts slowing by late summer and continues to cool off into the fall and winter months. So what we’re looking at below (RMLS report), covering through the end of June 2021, should represent the fastest time of year to sell a home: As you can see, the ratio of active listings to sold properties dipped below 1 to...

As Portland Home Prices Soar, Home Affordability Takes a Hit

July 12, 2021

Low inventory and rising home prices have made themselves felt here in Portland, as they have across the country. According to the latest numbers from Fannie Mae’s Home Purchase Sentiment Index® (HPSI), 64% of respondents feel that right now is a bad time to buy a home, while 77% feel it’s a good time to sell. Buyers, especially first time buyers, are feeling the sting of lack of affordability pushing them out of the market. So how does Portland shape up in comparison to the rest of the country? We’ll take a look at ATTOM’s recently released affordability data for the second quarter of 2021 to find out. Portland Home Prices Grew Faster Than Wages To consider affordability, you can’t...