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!

top real estate news stories

Top 7 Real Estate News Stories of 2021

December 6, 2021

COVID-19 has, without a doubt, impacted the real estate market from decreases in interest rates and inventory to increases in zoom towns and home prices. While we are still not out of the woods with the pandemic’s influence on the market, we’ve been watching to see how it’s all unfolding. We’ve consulted some of the top sources in the country to see how things look on the national real estate landscape. While COVID has been front and center in all news, including real estate, it’s not the only news. Here, we’ll share what’s happening across the country and here at home to help you stay informed whether you’re just entering the market for a new home or have been following...

For Sale By Owner Homes Sell for 14% Less – 2022 Report

November 29, 2021

In 2021, 90% of homeowners in the real estate market nationwide sold their home using a real estate agent or broker, according to the National Association of Realtors. That was on par with 2019-2020 and slightly lower than 2018 (91%). Only 7% of home sellers sold their homes For Sale by Owner (FSBO). For sale by owner homes sold for much less in 2021 than homes represented by real estate agents, 14% less, which we will explain here. For Sale By Owner Rates Have Dropped Consistently Over the Years The 7% of FSBO home sales in 2021 was down by 1% from 2020. The For Sale By Owner rate has been steadily dropping since the NAR first began keeping track...

portland homes with adu sell for more

Portland Homes with ADUs Sell for 8% More – 2022 Report

November 26, 2021

When most people think of adding an ADU to their property, they immediately think of rental income potential. Or maybe they simply want extra living quarters for a family member or for frequent guests. While having the ability to add more space and generate income is a bonus, did you know that having an ADU on your property also increases future resale potential an adds value to your overall property? Finding a Home for Sale with Additional Living Quarters is Easier than Ever Thanks to our patent-pending technology, Portlanders can search for homes that have ADUs on a dynamic real estate map. Our software indexes every word written about every property for sale in our local MLS, RMLS, and then...

tigard real estate market

Tigard Real Estate Market Update and 2022 Forecast

November 15, 2021

Anyone who follows greater Portland real estate market trends knows that they tend to align with the seasons: things warm up in the spring and summer, cool down in the fall and winter. And that’s generally true for the Tigard real estate market right now. It’s always a good idea, though, to consider nuances to gain clear insight into what’s going on in a particular area and to consider where it all might lead in the coming months. Is the Tigard Real Estate Market Cooling Off? We consulted Fidelity.com and found that inventory has been increasing in Tigard since mid-spring which is typical for the area. Tigard Real Estate Inventory But while inventory has been increasing, time on market has...

portland real estate fall market

Portland Real Estate Market Update – November 2021

November 12, 2021

It’s no surprise that home prices in Portland have increased over that past 18 months due to the COVID-19 pandemic. Problems with low inventory and buyers wanting to leave urban areas (Portland suburbs prices have risen faster than the city proper’s) or create better work-from-home situations have driven up real estate in the entire metro area. This has also been true across the country. However, according to Forbes.com, home prices are starting to drop nationwide, citing increased inventory and buyer fatigue as causes. More likely though, this is just part of the normal season trends we see in the real estate market both locally and nationally every year. Let’s see how these factors have affected Portland and if we can...

Lake Oswego Real Estate Market Update and 2022 Forecast

October 29, 2021

Lake Oswego is one of Portland’s most popular suburbs for professionals and families of all kinds. Residents move to this city, located a mere 8 miles from Portland, to enjoy its natural beauty, excellent public educational system, and sense of community. Of course, there is its name sake, Lake Oswego with surrounding parks and water activities. Then Lake Oswego also boasts its own downtown shopping area and is known for its highly rated schools and low crime rates. As we near the end of 2021, let’s take a look at how the real estate market in this desirable Portland suburb compares to the current Portland metro real estate market. Current Lake Oswego Real Estate Market October 29th, 2021, numbers from...

portland real estate market fall

Portland Real Estate Market – 4th Quarter 2021

October 18, 2021

It’s no secret we’re living in unprecedented times in the world of real estate. Market prices have risen across the country and so have home inventory supply and demand issues, all induced by the pandemic. However, according to the National Association of Realtors, the real estate market is slowing down this fall, median sales prices dropped 8.3% from June to August, nationally. They also found that the supply of homes on the market has leveled out and remained static since May of 2021. Does this indicate a cooling off period in the real estate market? And how does Portland align with national indicators? Let’s take a look as we near the end of 2021. Median Sales Prices for Portland Homes...

portland property tax

Portland Property Taxes Going Up in 2022

October 15, 2021

Multnomah County passed a new measure in May 2021 that will impact property tax payers in Portland in 2022. This is in addition to the three new measures passed in November 2020 and the usual 3% increase Portland homeowners see every year. Additional measures could be voted on in November 2021 that will increase property taxes locally in 2022. Why Do Property Taxes Go Up Every Year? In Portland, the 3% increase is based on a calculation that multiplies a home’s assessed value by the current going tax rate, which varies by county and city. In Oregon, the assessed value of a home for tax purposes is calculated by determining the value of the home in 1995, and adding 3%...

Portland’s Hottest Real Estate Suburb, Surprise! – Mt. Hood

October 8, 2021

Without a doubt, the Mt. Hood area is known as a prime vacation and recreation spot for visitors. But with more and more city dwellers looking for solitude and space, Mt. Hood is becoming a popular real estate market for Portlanders. In fact, we’re adding it to our list of Portland’s hottest suburbs because the demand for this area far exceeded all other Portland real estate market suburbs in 2021. Nestled at the base of Oregon’s highest peak are several small towns, each with its own personality, all of which comprise the villages of Mt. Hood. Why not take a day trip to explore and see which one is right for you? Start with Brightwood and work your way south...

portland new home construction

Portland New Home Construction Up or Down by the End of 2021?

September 27, 2021

2020 marked a noticeable drop in residential construction in the Portland Metro area due to the pandemic. In 2021, not much has changed. In fact, we’re seeing a marked slump in new home construction, despite recently passed, truly historic, higher density zoning rules in Portland. Let’s see how the Rose City is faring so far this year. This city of Portland website shows the numbers of issued, under review, and finaled (building has been completed) new home construction permits in Portland, Oregon. Let’s compare Portland’s 2021’s new home construction numbers to date with the past six years. 2015 931 2016 980 2017 917 2018 967 2019 697 2020 500 2021 571 Portland New Home Construction Permits Issued by Year As...