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 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....

Portland Real Estate Migration

Portland Versus California: What’s driving migration?

September 25, 2015

The Oregon real estate news sites have been abuzz with renewed angst from Portlanders about the migration of Californians to Oregon’s biggest metro area. From writing angry comments below news articles to actually slapping “no Californians” stickers on real estate agents’ for-sale signs, some people are really having a hard time accepting that someone from out-of-state might come buy a home in Portland. They are concerned that out of state buyers will continue to raise real estate market prices in Portland and decrease home affordability and availability. While home affordability and availability is an important and relevant issue, migration has a significant impact on the entire Oregon economy and affects far more than the Portland real estate market. Change is...

hot real estate market

July Real Estate Market is HOT in Portland

August 27, 2015

The Portland housing market was as hot as the weather last month, according to the latest report from the RMLS. What qualifies a housing market as “hot”? If you ask a real estate agent, the first thing he or she will probably say is “low inventory”. It’s supply and demand — when there are fewer houses on the market, the demand for them goes up, driving up prices and competition. That’s exactly how the Portland housing market looks right now, not just in the last month but for the last 6 months. The average inventory has been hovering around 2 months, and in July it was 1.7 months. When we see inventory that low for that extended period of time,...

portland home buyers

Portland Home Buyers are Ready to Retire

August 2, 2015

Is Portland’s housing market ready to accommodate the coming flood of retirees? According to the U.S. Census Bureau, the number of people 65 and older in Washington County (West Portland and suburbs) grew 24% from 2010-2014. That’s just the leading edge of the baby boom, the majority of whom are going to turn 65 in the next decade. According to the AARP, 30% of Portland’s residents are already 55 or older. It’s pretty easy to understand why Portland is getting attention as a retirement destination right now. Our temperate climate allows gardening practically year-round, our diverse community provides an abundance of opportunities to be engaged and active, and outdoor recreation opportunities abound within the city as well as around it....

urban growth boundary

Is the Urban Growth Boundary Good for Portland Home Values?

July 20, 2015

What’s the best thing about living in Portland? Some say it’s getting out of Portland! Not only do we have incredible wilderness areas and parks within a day’s drive, out-of-towners are always amazed at how quickly the city vanishes in your rearview mirror. Where’s the sprawl? Thanks to Oregon’s unique land use system, it pretty much doesn’t exist in rural areas surrounding Portland and other cities. This system traces back to 1974, when Oregon established 19 Statewide Planning Goals to protect farmland, forests and open space, encourage efficient development, and eliminate the costs of poorly planned development. And it’s worked! One of the most powerful tools land use planners have is the Urban Grown Boundary, or UGB. The UGB looks and...

real estate market

Marketing Matters for Portland Real Estate

July 15, 2015

Junior has a bet with his uncle Bill. He’s downsizing and selling his home in SE Portland, with the asking price of $249,000. Uncle Bill has a second home in Beaverton he’s selling so that he can buy a yacht. His real estate agent has it priced at three-quarters of a million. Which one will sell faster? There’s a lot at stake here — dinner at Portland City Grill. Junior is pretty sure he has the upper hand, though. He’s been reading the Portland real estate market reports on his smartphone and he knows that according to the RMLS’ 2014 data, homes in his price category make up the largest chunk of the Portland real estate market, representing 34% of...