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, articles on Realtors themselves, and much more. Enjoy!

Close-up Of House Model On Red Arrow Showing Upward Direction

Home Prices Soaring in the Portland Real Estate Market

April 30, 2021

The trend of home prices has only proved itself stronger this week. On Tuesday, Case-Shiller reported the biggest home price increase in 15 years. Their home price index found a 12% annual gain for the month of February, the highest recorded since 2006. That’s up from 11.2% in January. The S&P CoreLogic Case-Shiller Home Price Index measures the price of home sales across the United States using the “repeat sales method.” This means that they calculate percent increase and decrease based on homes that have sold at least two times. Their methodology excludes new construction, condos, apartments, etc. Basically, they are looking at how single-family homes appreciate in order to gauge how much home prices in a particular month. The...

Increasing House Models With Red Roof In A Row On Wooden TableIncreasing House Models With Red Roof In A Row On Wooden Table

How Big Should Your Next Home Be?

April 26, 2021

How big? It’s one of the first things that might come to mind when buying a new home. You likely already know that home sizes in the U.S. increased considerably since the middle of the 20th century. We can bemoan “McMansions” until the cows come home (the term generally connotates poor taste). But the fact is even the most tasteful of homes are built much larger today than they were in previous decades. That doesn’t mean that bigger is always better. The most important thing is to find a home that suits your needs and your style. But knowing what’s trending in the real estate market will give you an idea of what’s out there for you to explore. How...

zillow zestimate accurate

Is the Zillow Zestimate Accurate? 2021 Update

April 19, 2021

We’ve all been there: you get that email from Zillow telling you how much more your home is worth than what you paid for it even a few short years ago. It’s an enticing idea, to think your house has gained so much equity, and that you could profit off of that. And Zillow’s Zestimate tool, which gives you a quick estimate of your home’s value has been around for years. On top of that, the site gets a ton of traffic, and it’s generally a good idea to have your home listed there. So that must mean the Zestimate is pretty reliable, right? Think again. While the Zestimate is undoubtedly tempting, it doesn’t tell the whole story. And Zillow...

how to sell home with tenant

How to Sell a Home with a Tenant Inside in 2021

April 14, 2021

Selling a tenant occupied home has never been trickier. A landlord must be aware of constantly changing local regulations, whether it be state, county, or city and at the same time keep an eye on federal emergency regulations. All of the above governmental agencies can override any existing lease between the homeowner and tenant. Selling a Home with a National Eviction Mandatorium in Place Right now we are still in a Federal national eviction mandatory that lasts until June 30th, 2021, and could be extended further. In effect, no homeowner in all 50 states can simply let their contract with the tenant expire or remove a tenant for issues like non-payment. If a homeowner evicts a tenant under Federal protections...

rush on the last remaining homes for rent or for sale

Market Update: Will Portland Climb Out of the Inventory Slump?

April 13, 2021

According to the latest RMLS data, Portland may be hitting another record low for housing inventory. The 90 day average sits at 550 active listings, down from 891 last year. Portland’s inventory crisis consistently topped the list of biggest Portland real estate news stories over the past year, with the pandemic making a clear impact. We’ve theorized that fewer folks were willing to sell during the pandemic, but that Covid-19 doesn’t appear to have deterred buyers. With demand consistently outstripping supply, inventory suffers. But what happens now that we’re entering the busy season for Portland real estate? The weather is getting nicer, and more folks are getting those vaccines. So will Portland see more homes go on the market? April...

home buyer showings to sell a home

How Many Showings to Sell a Home? 2021 Update

April 9, 2021

The Portland real estate market has been quite volatile since the advent of COVID 19 in early 2020. No one predicted the seller’s market we are in now. After COVID 19 hit, home became more important than ever to the entire country, somehow at the same time dramatically decreasing inventory and dramatically increasing buyer demand. While we are in the traditionally hot spring sellers season, it feels hotter than anything I’ve experienced as a local sellers agent since 2003. Inventory should increase over the span of the year and this fall should be a much easier time to buy in the Portland real estate market. How many buyers will come through my home before it sells? Many homeowners are watching...

Drone aerial view of downtown Portland showing the World Trade Center Portland from Waterfront Park in early morning sun

Portland Real Estate Market: April 2021 Report

March 26, 2021

Back in January, we predicted that March of 2021 would be possibly the best month during which to sell a home. And certainly, if nothing else, we hit a new peak seller’s market. This peak will likely last through April and run into May (though it may start slowing down in May as inventory typically rises every year each May). For the month of April we can expect the Portland real estate market to continue to be a lopsided seller’s market for houses (less so for condos, but that could be changing). Buyer traffic has been up, days on the real estate market continue to go down as demand outstrips supply, and home values continue to increase. Overall, then, March...

Hawthorne Bridge by waterfront condominiums over Willamette River in downtown Portland Oregon United States America

Portland Real Estate Market Report: March 2021

March 12, 2021

We’ve been following the low inventory in the Portland real estate market for a while now. But now that we’re into March – marking a year since the pandemic came into being full tilt – we’re also likely looking at a huge change in inventory on the horizon. We believe that a lot of folks have been holding off on listing their home during Covid-19. On top of that, as unfortunate as it is, foreclosures will likely spike once stays on foreclosing end, which will happen eventually. So while low inventory is one of the biggest Portland real estate market news stories so far in 2021, a wave of new inventory may be the next big story. Let’s take a...

On a white background, a small house with a window in the form of a heart lies in a cart from a supermarket. Horizontal photo. The concept is housing affordability

Portland Home Affordability Rate: 2021 Report

March 5, 2021

Housing affordability is a universal and complex topic. So is the global pandemic we’re all navigating. Portland’s shortage of inventory hasn’t helped housing affordability over the past year, nor has it shown any signs so far of slowing. When it comes to buying a home in Portland, how should prospective buyers wade these troubled waters? First and foremost, let’s educate ourselves. How is affordability calculated, and how does it affect the average buyer? What are the primary forces influencing the market right now? The more you understand about the Portland real estate market, the more you’ll be able to cash in on the most affordable home for you. How Affordable Is Portland Real Estate? According to the latest RMLS data,...

Fake Classified Ad, newspaper, real estate concept.

Top 5 Real Estate News Stories of 2021 So Far

March 3, 2021

As much as we may be sick of hearing about it, the long and the short of it remains that Covid-19 continues to dominate the biggest real estate news stories. While some aspects of the market are undeterred by the pandemic – buyer demand, notably – others remain markedly affected. As 2021 unfolds, the virus still complicates real estate trends. Today we’re rounding up the top five real estate news stories. But we’re also parsing how national trends intersect with local ones. From the Federal Reserve’s interest rates to the government vaccine roll out, let’s take a dive into how the Portland real estate market has been affected by national forces, local idiosyncrasies, and a global pandemic. 1. Record Low...