Portland Real Estate Market News

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, and much more. Enjoy!

Portland Real Estate Market Podcast

portland real estate market showings

Home Showings Down 60% in March, 2020: Portland Real Estate Market

March 30, 2020

Okay I know this should come as no surprise, but a lot of home buyers are staying home. This means a number of things and one thing it doesn’t necessarily mean is a Portland Real Estate Market Crash. First, and most importantly, we also need to know how many fewer homes have hit the market. Boots on the ground, it feels like 20% less homes to 40%. Less homes are going live on the real estate market in Portland, but I won’t have the full data for about 2 more weeks when the RMLS puts out their monthly market report (sign up at the link). If there are 60% less homes for sale (it could be that drastic) and 60%...

portland condo market

Portland Condo Market: Affordable Choice for 2020 Home Buyers

March 27, 2020

Are you looking for a Portland home on a budget? Maybe it’s time to give condos a second look. Consider the following:  Condo buyers have more options. As of March 2020, there were 470 homes listed on the Portland real estate market for under 400K. In the same price range, there were 570 condos available. Visit Portlandhomesforsale.com for all condos and townhomes currently for sale in the Portland metro area. At the low end of Portland real estate values, condos rule. The top 38 cheapest homes currently listed for sale in Portland (not including manufactured or mobile homes) are condos. Currently the median list price for a Portland condo, according to Fidelity National Title, is just over $430,000. That’s usually...

virtual real estate agent services

Keep 100% Social Distancing & Buy or Sell a Home Today

March 19, 2020

The modern real estate industry has access to all the online, video, and 3D virtual tools needed to make sure every home buyer and seller can maintain complete social distancing when buying or selling a home. My top 1% real estate team in Oregon and Washington is fully equipped and ready to go! We can provide our clients with total social distancing during their home purchase or home sale from start to finish. Steps to Selling or Buying with 100% Social Distancing Scroll down to schedule an appointment with our top 1% real estate agent team, or call us today at 503-714-1111 for our 100% social distancing real estate services. Click to schedule a video appointment with us! Or call...

coronavirus real estate portland

Coronavirus vs. Portland Real Estate Market

March 16, 2020

First, as a Portland local, I wish to express my deepest sympathies for everyone hurt by the virus, whether it be physically, financially, or mentally. Second for your safety and others, please follow the guidelines as outlined by the CDC and encourage everyone you know to do so. The market is changing weekly right now. See our most up-to-date Portland real estate market information here. Portland Real Estate Market Forces vs. COVID-19 1. The Great Real Estate Balance vs. Coronavirus Local real estate markets are most fundamentally determined by a VERY simple formula: How many able and willing buyers are there vs. how many homes are for sale? This is and will always be the fundamental question. The Coronavirus in...

buy a home in portland real estate market

10 Reasons to Buy a Home in Portland in 2020

March 13, 2020

Buying a home is a goal that’s easy to put off until “next year”. Here are ten reasons why this year, 2020, is the year to become a homeowner in Portland!  Real estate values have cooled, but not for long. Five years ago, we were seeing rapid, 7-8% annual gains in Portland home values as the market rebounded after the Great Recession. More recently, 2017-19 saw a period of limited growth, and some home values even dropped a bit in the midrange of the market. In these first couple months of 2020, we’re seeing a strong real estate market with good indicators of growth: a strong Portland economy, low unemployment, and high demand for homes. We predict the Portland real...

california and portland takeover

Is California Taking Over Portland? 2020 Update

March 6, 2020

Anyone who spends much time talking to newcomers in Portland (and as real estate agents, we do a lot of that), will notice one thing over and over: There are a lot of Californians coming here! Note the following recent trends:  Nearly 40,000 Californians move to Oregon every year (source: Oregon Employment Department) Every year, 20,000 Oregonians also move to California (Oregon Employment Department) 30-40% of Oregon’s incoming population over the past few years has been made up of Californians (Oregon Office of Economic Analysis) Should we pay attention to this? Yes, real estate market trends and population dynamics are closely linked. But the story is more complicated than how many Californians are coming here. In other words, Portland’s population...

school ratings change home value

School Ratings Impact Home Values: 2020 Update

February 21, 2020

A lot of things matter when it comes to the final sale price of a home – its size, location, age, even energy efficiency. But one major influence we’ve seen emerging in the real estate market over recent years is school ratings. In 2020, home buyers and sellers alike need to be aware of how the schools near their home are rated, and how that rating can affect home values both now and in the future. Why School Ratings, Why Now? As real estate agents, we have to know and respond to market forces, even as we try to combat misconceptions about what makes a school, home or neighborhood desirable or undesirable. It’s difficult in the case of schools because...

top real estate websites by traffic

Top 10 Real Estate Websites by Traffic – 2020 Update

February 14, 2020

Real estate websites have a huge impact on the housing industry. Nearly every American spends time on one real estate website or another, looking for homes for sale, researching home prices, and staying in touch with the real estate market. NAR, the National Association of Realtors, reports that 95% of home buyers will search for their next home online. This report specifically focuses on websites buyers are using to search for homes. We pay extra on the top real estate websites. It is obvious where home buyers are, and we watch the numbers closely. Because most home sells are due to internet marketing, we track where the buyers are engaging online and pay extra money direct to real estate websites...

escrow earnest money fact fiction real estate

Escrow and Earnest Money FAQ – Fact or Fiction

February 7, 2020

“Escrow” is a hard-working word in real estate. It’s also the process (Or is it just a period of time? We’ll get to that in a minute) with a number of pitfalls for first-time home buyers and sellers. On the other hand, even experienced real estate agents have been known to believe some of the escrow and earnest money myths that circulate regularly. In this article, we’ll break down some of the “facts and fictions” you’re most likely to hear about escrow in 2020. Fact or Fiction? “Escrow” refers to a bank account, not a period of time, so you shouldn’t say “in escrow”. Fiction! Escrow is both – in fact, you could say that escrow is three things: A...

portland real estate market forecast

2020 Portland Real Estate Forecast (final)

January 31, 2020

This is our final Portland housing forecast for 2020, updated from our first prediction written in August. In this article we are going to address the financial market indicators that bolster a relatively stable real estate market prediction. We are going to address interest rates, housing affordability, foreclosure rates, construction rates, and crime statistics. See the initial 2020 forecast for a break down on your home’s value forecast based on specific criteria, such as its price range and the type of home you own. Of course for an exact home value estimate or forecast of your property, if you’re considering selling in the next year or two, call us direct and have us out to meet with you. Portland Real...