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 market

Portland Real Estate Market Update, June 2022

May 13, 2022

We’ve all been waiting and wondering what it will take to shift the real estate market in Portland after two years of an unprecedented sellers market. Prices have continued to rise at record rates with inventory remaining low. While it is obvious this state of affairs isn’t sustainable, when the shift would happen and what would cause it have been big question marks for everyone. Interest Rate Hikes are Now, and Will Continue to Slow the Market How do I know that the interest rate hikes are causing a slowdown? We look at weekly buyer traffic reports. Typically from March to May home buyer traffic (visiting homes for sale to purchase them) increases and peaks in May. In 2022, home...

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Portland Real Estate Market, May 2022 Report – A Wild Ride

April 20, 2022

We live in interesting times. The Portland real estate market was scorching hot in the first quart of 2022 with no end in sight for skyrocketing home prices and crazy bidding wars. But mortgage interest rates are rising incredibly fast and in April we started to see the first slowdowns in the market. (Typically April is always hotter than March in Portland real estate, but probably not this year.) Buyer Traffic is Dropping in Response to Rising Interest Rates The above is for all Oregon homes listed in our local MLS, RMLS that is centered in Portland, Oregon. Buyer traffic typically never drops in April. Inventory will Remain Low through Spring and Summer There simply has been almost no inventory...

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Top 5 Real Estate Market News Stories of 2022 so Far

April 8, 2022

We keep track of what’s going on in the world of real estate, both near and far. We wanted to see how it all looks now that we’re about to move into the second quarter of the year. We get that times are strange in real estate right now, but it’s a great time to buy, considering what’s likely coming down the pike. While price increases and low inventory are not news, there’s plenty more going on that’s worth your attention. Especially if you’re thinking of selling or buying in 2022. 1. The Fed’s Rate Hikes Will Affect Real Estate The Federal Reserve just approved a 0.25 percentage point interest rate hike, the first since December 2018, with six more...

Portland Housing Affordability Rate, 2022 Report

April 4, 2022

We recently wrote about Oregon’s growing population, with many of its migrants being Californians looking for more affordable housing. While this may come as a surprise to Portlanders who have faced increasing rents and home prices, Portland is still more affordable than many west coast cities. But what about those who have lived in the Portland metro area for years? How is the city’s level of affordability affecting them? And how does Portland’s affordability stack up against other cities in the country? We looked into it all and here’s what we found. What is Portland’s Affordability Rate in 2022? RMLS provides a quarterly affordability chart for the Portland metro area. They use the NAR formula for housing affordability: Affordability is...

Swimming Pools Make Portland Homes Sell for 14% Less, 2022 Report

April 1, 2022

Who doesn’t get excited at the thought of having a pool nearby? Most people envision the relaxation, cooling off during the summer, and throwing memorable pool parties! But when faced with actually owning one or looking into what it really means to own and maintain a pool, the glamor of the poolside lifestyle is oftentimes dashed. It makes sense to want and have this water feature in warmer parts of the country. But here in Oregon, the amount of time a pool can be best used is very short-lived throughout the cycle of one year. What will the cost be to you, the home owner? And in what ways? Will a Portland swimming pool increase or decrease your home value?...

Portland School Ratings Change Home Values

March 21, 2022

Several considerations factor into buying a home, and school district might play a part in your decision-making process. The reason being: school rankings impact home values. A home’s value gets assessed and appraised both before listing and before sale. For more information on this, read our article on the differences between inspections and appraisals. While school rankings aren’t directly taken into account by appraisers and assessors, they do affect a home’s value. So, how does a school’s ranking figure into it all? Before we get to that, let’s get clear on what a school ranking is. What Makes a School Ranking? First off, we’ll say that school rankings are somewhat tenuous. There is no overarching, prescribed process or method to...

Portland Real Estate Market Report – March 2022

March 16, 2022

As we move into the spring Portland real estate market, we’re looking at the numbers to see what’s happening. Last month, we reported that experts are predicting a “brutal” spring market, and from what we’re seeing, they’re right. As always, we look to RMLS and Fidelity National Title for our data, and we’re reporting what we found here mixed in with our own experiences on the ground. Real Estate Prices Are on the Rise in Portland We checked the activity in Portland’s four quadrants and found that most of the activity, in terms of closed sales, happened in SE and West Portland. Some of the highest price increases in the past year also occurred in these areas, at 12.0% and...

How Many Californians are Moving to Portland? – 2022 Report

March 4, 2022

Californians have been migrating north to Oregon for years, and despite the pandemic, the past couple of years have been no different. While COVID did slow both in- and out-migration in early 2020, some population growth returned in 2021, according to the Portland State University Population Research Center (PRC). This isn’t to say that Oregon is experiencing a population boom. It isn’t. But, Multnomah, Washington, and Clackamas counties all saw increases in population with key factors being more affordable real estate and job availability. With home prices increasing as they have in the past couple of years here in Portland, it’s hard to believe people find them attractive, but they do. Especially when coming from California, where the median home...

Portland Real Estate Market Update – February 2022

February 18, 2022

Not that we’re into the second month of 2022, we’re taking a look at the real estate market in Portland to see how stacks up against the past year, 2021, and month, Dec. to Jan. 2022, and what it might mean moving forward. Fortune predicts that the upcoming national spring market will be “brutal,” compared to last year’s spring market, which they describe as “the fiercest in history,” all created by rapidly rising real estate prices and record-low inventories. They point out that the 19.1% increase between October 2020 and October 2021 is not sustainable. Something has to give at some point. Will 2022 be the year the Portland real estate market start to change? See our 2022 Portland real...

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Home Buyers and Seller Closing Costs – 2022 Report

February 14, 2022

For some people, “closing costs” is a vague term attached to selling or buying a home. Many aren’t clear about who pays what. Educating yourself on this part of the home selling/buying process is essential for a successful and surprise-free transaction. Closing costs vary from state to state. Also, because they’re based on the cost of the home in question, closing costs in the Portland metro area will be higher than other parts of Oregon due to higher home prices in the area. Keep in mind that some of these fees are payable to the lender and others to third parties, like home appraisers and title agencies. We want to dispel some of the mystery and confusion around what seems...