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

Best Time to Sell a House in Portland – 2020 Update

January 24, 2020

In 2020, the Portland real estate market is split. Some parts of the Portland real estate market are cooling and are firmly considered a buyer’s market, while other segments of the Portland real estate market are still hot and considered a seller’s market. See our full 2020 Portland real estate market forecast here. In general, Portland condos downtown are in the buyer’s market category (your best buy in Portland right now) and many luxury homes in the Portland market (not all areas, but most) are in the buyer’s market category. But anything close to the city under 450K in price is most likely firmly in a seller’s market. All of the above will continue for the entire 2020 year, but...

10 Things to Know Before Buying a Condo in Portland

January 20, 2020

Half of the condos in Portland are downtown. A recent real estate search found that nearly half of the condos currently on the market in Portland are located in the downtown area, including the Peal District, Nob Hill, Goose Hollow and South Waterfront neighborhoods.  Portland condos are green. For those wishing to do without a personal vehicle, buying a condo may be the best way to do it. From a downtown Portland condo, shops, restaurants and offices are steps away. Portland’s mass transit system — including light rail, streetcar and bus — will get you anywhere you need to go in the metro area. And many Portland condo highrises are built to the highest green standard available: LEED Platinum. Most condos are...

What makes a Home Sell? – 2020 Update

January 10, 2020

There are more ways in 2020 to sell a home than ever before. We discussed the four major ways to sell a home in this detailed real estate podcast: Now we want to build on that and explain the science behind the methods, what exactly makes a home sell in the U.S. in the year 2020 (and beyond). Thankfully every year the National Association of Realtors does extensive research to determine just that, all the forces that cause a home to sell. The profile of home buyers and sellers report is so comprehensive that anything that doesn’t make the NAR list of what causes a home to sell, simply doesn’t make an impact on the real estate market at all....

Top 5 Portland Real Estate Market News Stories – 2019 Recap

December 20, 2019

Like previous years, 2019 was one in which technology dramatically shifted the age-old practice of buying and selling real estate. On one hand, the increased access to real estate market data that we now enjoy allows both buyers and sellers to make better decisions. On the other hand, technology has also clouded the real estate market by inserting iBuyers and corporate investors into what has primarily been a person-to-person exchange. In addition to these stories, we’ve covered important news on affordability and housing here in Portland, including local changes to the way new housing is developed. All in all, we published over 100 articles here on the real estate blog in 2019! Now we’re asking what we can learn from...

Portland Real Estate Bubble – Housing Market Crash 2020

December 3, 2019

You have probably started hearing already that the Portland real estate market is cooling, and many now want to know if the real estate market here will crash, are we in a market bubble now and will it pop in 2020? Will the Portland Real Estate Bubble Pop in 2020? We are going to answer that question, I believe fairly definitively (minus any international market calamities that we could not possibly predict), in this article by looking at all of the major drivers within the Portland real estate market and they are these 5: Portland wage rates Portland employment rates Portland new home construction rates Portland housing affordability rates Portland population growth After analyzing these five local market questions, we...

Portland Housing Affordability Rate – 2020 Update

November 29, 2019

Most people can afford to pay 30% of their income on housing costs; more than that, and housing becomes unaffordable. The Portland affordability rate is different depending on whether you’re renting or buying. According to the most recent census data, the median household income in Portland is $73,000 per year. For those households, the monthly housing payment should be $1,825/month or less. But, according to Zillow’s Rent Index for Portland, the average renter in Portland is paying $2,072/month — 14% more than the affordable level for median income earners. Unaffordable Portland Rent at 114% of average income. By comparison, the median home price in Portland is $410,000 (according to the September 2019 RMLS report). Assuming a 20% down payment on that...

Pocket Listings Banned in 2020 – Portland Real Estate Market

November 18, 2019

Pocket Listings in Portland and throughout the U.S. have been a hot topic for a while. While some real estate agents argue for pocket listings in the Portland real estate market, most argue against them or at least want sufficient regulations in place to protect home sellers and buyers. Pocket listings are usually defined as homes for sale that are not listed publicly in a MLS system, but privately with a local Realty company who may also promote that listing to other local Realty companies or select networks of potential buyers. Pocket Listings Changes in 2019, more coming in 2020. Recently in 2019 RMLS, our local Multiple Listing Service here in Portland, Oregon created a coming soon feature for all...

Portland Property Taxes to Rise in 2020

November 11, 2019

Portland property tax payments are due November 15. For most homeowners, the bill will be more than it was last year. But if you were one of the many Portland homeowners whose property values stayed the same or even went down in 2019, wouldn’t it make sense that your property taxes would also go stay the same or go down? Unfortunately, it often doesn’t work that way in Portland.  How Portland Property Taxes are Figured To understand why Portland property taxes go up every year nearly regardless of real estate values, let’s take a quick look at how taxes are usually calculated. The standard way is to multiply the value of your home by the property tax rate for your...

Portland Rental Laws: 2020 Game-Changers

October 18, 2019

Right around $2,000/month: That’s what the median renter pays in the Portland metro area, according to Zillow. For those looking to buy an investment property, that might sound like a pretty nice number. Of course, those who do their research on renting out a home in Portland will soon find that it’s not as simple as it first seems. From property taxes to maintenance, owning a Portland rental can be costly. Then there are the Portland laws governing landlord-tenant relationships, which in 2019 are more complex than ever.  As real estate agents, we do encourage anyone interested in purchasing an investment property — or purchasing a primary home and renting out a bedroom, basement or Accessory Dwelling Unit — to...

Best Time to Buy a Home in the Portland Market – 2019 Update

October 15, 2019

Every year we post a best time of the year to sell a home update, and now we are starting a best time of the year to buy a home in the Portland real estate market. As you would imagine, these market times are in nearly opposite every year. Exception: if you need to sell and then buy again right after selling, make sure to read the real estate advice just for you at the bottom of this article. Best Time to Buy a Home – Month by Month Analysis January Inventory – Low Buyer traffic – Low Weather – Poor January isn’t the best time of the year to buy a home, but its not the worst either. Low...