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 Home Prices Increase

Portland Home Prices Rose 10% in 2015

December 18, 2015

As 2015 draws to a close, no one will be surprised to learn that we had a great year for the real estate market here in Portland. Here’s a look at the latest data:  What’s up? In this month’s RMLS report, which gives figures for November 2015 as well as year-to-date stats and comparisons with 2014, it’s hard to find a category that didn’t show improvement. From closed sales, which rose almost 20%, to average sales price, up 6%, all of the numbers went up this year. Then there’s inventory, which of course is down. Last year in November it was at 3.2 months, but November 2015 showed just 2 months of inventory. In fact, starting in March 2015, inventory...

portland real estate market

Portland Real Estate Market – 2015 Fun Facts Mashup

November 25, 2015

Last month, the Portland Business Journal did an analysis of the RMLS data and came up with the 25 hottest neighborhoods in Portland — by the number of days on the market and the total number of sales per zip code. All numbers are for the third quarter of 2015, aka the summer peak-sales months of July, August and September. To make it more interesting, we’ve mashed these numbers with some fun facts about Oregon: Between July and September, a total of nearly 10,000 homes were sold. If the entire population of Astoria, Oregon bought a home in Portland, that’s how many they’d buy! More homes sold in the suburbs than in the heart of the city – which makes...

portland real estate 2016

Portland Housing Market Forecast for 2016

November 20, 2015

National Real Estate Housing Forecast for 2016: Zillow Research – 2.4% increase Kiplinger – 3% Corelogic – 4.7% Freddie Mac – 5.1% Portland, Oregon Housing Market Forecast for 2016: Zillow Research – 5.8%   Four reasons why home prices will increase nationally in 2016: 1. Consumer confidence rates continue to increase without signs of slowing down. 2. Mortgage rates remain low and are not expected to rise quickly. 3. The threat of rising prices (and interest rates) will accelerate buying growth. 4. There are more jobs to go around, the unemployment rate fell in 2015 to around 5% nationally and is expected to continue to fall in 2016. Four reasons why home prices in Portland will increase more than the national...

portland real estate streetcar

Portland Streetcars Boost Real Estate Development

November 18, 2015

“What’s old is new again,” could be the unofficial motto of the Portland Streetcar. While nostalgia plays a big role in its appeal, the bottom line for busy Portlanders is that the streetcar will get you where you need to go. The proof is in the pudding: The Real estate development along those Portland routes has gotten a big boost from streetcars over the past 15 years. According to new research funded by the Portland Streetcar group, the entire corridor has brought in $4.5 billion in new real estate development since construction began in 1998. The comprehensive study was released in July 2015, and looks specifically at this unique form of transportation and how it has affected the real estate...

how does a home sell

How Does a Home Sell? 2015 Marketing Report.

November 11, 2015

Home owners want to know, how exactly does a home sell? NAR (National Association of REALTORS®) creates a comprehensive report each year that shows how homes sell across America. Here are some of the highlights from the National Association of Realtors Profile of Home Buyers and Sellers 2015 Report: For the last three years in a row, 92% of buyers used the internet to find their next home. They rated online home searching as the most useful element in their home search process (buyer’s agents rated a close second!). 87% of sales were internet driven in combination with a real estate agent. 9% of sales were due to open houses (most often held by real estate agents) and yard signs....

Portland Home Styles

Most Popular Home Types In Portland

November 9, 2015

Ranch, bungalow, modern; townhomes rowhouses and lofts — Portland has all the options. Ever wondered how we stack up to other metros? The Washington Post breaks it down in a city-by-city housing comparison showing the most popular home types for major US cities. A city’s housing mix says a lot about its culture, although the most important defining factor seems to be population. For example, Philadelphia and New York City showed the lowest percentage of single-family homes, between 8-10%. However, while Philly relies heavily on rowhouses (also known as townhouses) for about 60% of its housing, NYC has most of its residents living in apartment dwellings of 20 units or more. Portland’s streetscapes are iconic for their unique and charming...

Portland Real Estate market

Portland Real Estate Nearly Stronger than Pre-Recession

October 22, 2015

Federal Reserve policy makers met last month to decide whether to raise the federal interest rate, and their decision to keep it at the near-zero level reverberated through the real estate industry. The rate fell six years ago in response to the crash in the housing market, and the extended period of low interest has boosted home prices by encouraging more people to buy homes. The Portland housing market is a great example of that housing recovery. Looking at the RMLS report for September, the numbers are close to what we saw before the housing crash of 2008 and subsequent recession (which hit Portland real estate market prices around 2011-12). Although September is always a month of cooling after a...

for sale by owner portland

For Sale by Owner? Go Ahead, Sell for Less

October 19, 2015

In this hopping Portland sellers’ market, homeowners may be tempted to forgo the real estate agent and sell their home For Sale By Owner. No paying real estate agent commissions (or maybe just pay the buyer’s agent commission), setting the price you want to get for your home — sounds great, right? As a real estate agent for over a decade here in the Portland metro area, I would advise you to consider all of the facts when deciding to list your home as a FSBO if you want to sell it for its maximum value. The key is to attract multiple buyers and offers, which isn’t as easy as it sounds even if your home is in a desirable...

Portland real estate asbestos

Portland Home Demolitions Reveal Asbestos

October 16, 2015

Like a zombie on Halloween night, a terror has been unleashed on Portland this fall, one that homeowners thought was safely sealed away. While not quite as threatening as the undead, asbestos is a public health threat that hasn’t been well controlled by government regulators. Asbestos, a material that was commonly used in buildings until the 1970s, isn’t harmful unless it enters the human body, usually by inhalation. Although older homes with asbestos hidden in floors and ceilings pose little to no threat to those who live in them, the problem arises when the homes need to be torn down. Every home has its lifespan, and as the City of Portland seeks to expand housing options for its growing population,...

Milwaukie Real Estate

Milwaukie: Portland Real Estate’s Next “Hot Spot”?

September 29, 2015

Portland’s real estate market is definitely hot, and that’s a categorization that supersedes seasonal fluctuations. For the past several years, home values have gone up and demand keeps growing, with homes lasting just a few weeks on market before being snapped up. Now, that heat seems to be spreading to nearby areas. Home buyers are realizing that they can get a lot more home for the same amount of money if they look outside the City of Portland and into the Metro Area. Most recently, the spotlight has been shining on Milwaukie, Oregon, located southeast of Portland along the Willamette River. Why? Start with the new MAX light rail line that connects the two cities in a 30 minute ride....