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

Portland Real Estate Market: Economic growth drives home sales

July 31, 2014

Good news from the RMLS across the data fields for the month of June: The number of closed sales in the Portland real estate market is up over 4% from last year, the number of days on market continues to fall, and the average and median sales prices in Portland for June 2014 were both up nearly 9% from June 2013. In terms of pending sales, months of inventory and new listings, things are pretty much the same as last year, says the RMLS report. Nobody’s complaining: Portland’s real estate market is stronger than other metros across the country, and we remain a popular place to relocate to. Meanwhile, locals are moving up to bigger homes or building new. The...


Portland Pocket Listings – Bad for the real estate market

July 1, 2014

The phenomenon has been around for as long as real estate agents: When inventory is low and buyers aren’t finding what they’re looking for on the market, some Realtors will go door to door in the target neighborhood to find a home that the owners are willing to sell, or they will make a “secret” pact with home sellers they know. The practice is known as “pocket listing”, because the seller never lists their home on the public MLS. Instead, they sell to the buyer that the real estate agent has in mind, often for less than they might have if they had advertised to the entire public market. In the Portland real estate market last month, according to the...


portland home sales

Portland Home Sales, Acquisition Statistics, First Half 2014

May 21, 2014

Okay, so the 2014 Portland real estate market is not quite half over yet, but we are close and I find the acquisition numbers fascinating so far. In the last six months, 3734 Portland homes have sold and 961 Portland townhomes and condos. Of the regular Portland home sales, 762 or 20% were cash sales. A whopping 2533, or 67%, were conventional loan sales. 344, or 9% were FHA loan sales, and finally 95 or 3% were VA loans. The remaining 1% of sales were “other” financed, either seller financed, lease option, trade, or a rehab loan. In regards to townhomes and condos in Portland, 961 sold in the last six month. An amazing number of those sales were cash,...


portland real estate market

Portland Real Estate Market March 2014: Fresher than ever

May 7, 2014

Things that aren’t very good stale: Crackers, beer and the Portland real estate market. Luckily, Portlanders can fear no more this spring about stale real estate because the real estate market is fresh as a newly hatched chick (besides, here in the rainy Northwest, soggyness is a greater danger than staleness). According to a recent Trulia report, relative to the rest of the country, the Portland real estate market sells homes at one of the fastest rates in the nation. This month’s RMLS numbers back up the report. Inventory, an important marker of how quickly homes are passing from the hands of sellers to buyers, fell to 3.1 months in March. Average total time on the market was 85 days....


portland real estate market

Best time to sell a house in the Portland real estate market.

April 9, 2014

There is a lot of debate in the Portland real estate industry surrounding the best time of the year to sell a Portland home. What I’ve found listening to the debate is that most Portland real estate agents are talking about it based on their experience. Experience can be useful, but when you’re considering broad questions, a bigger data picture is much more useful than one agent’s experience. So I will share my experience as a top Portland real estate agent, but I will also use the official Portland real estate market data as obtained from RMLS. (You can also sign up here to get it for free.) Big data picture for the Portland real estate market. Take a look...


portland real estate market

Portland Real Estate Market News: Busy, Snowy February 2014

March 15, 2014

RLMS Market Action report for the Portland Metro Area, released this week, focused on February’ highlighted the number of closed sales in February, a whopping 1,467. According to the report, this was the best February in the Portland real estate market for closed sales since 2007. What does that mean? The average time on the Portland real estate market right now is 100 days, so it’s safe to say that it was a good winter for Portland home sales. Deals that were made in January, December, even November, closed last month and 1,467 happy home buyers and sellers went their separate ways. Following these leading numbers was the news that new transactions didn’t happen as prodigiously in February as they...


portland real estate market

Hot Real Estate Market, Hotter Portland Neighborhoods!

January 31, 2014

The new year is off to a good start for Portland real estate buyers, sellers and agents, according to the RMLS Report for the Portland Metro area for December 2013. The figure that stands out in this month’s real estate market report is that median and average home sale prices in the Portland area are up by nearly 13% compared to last year. Although the number of closed sales and new listings are down from November, the month of December overall pulled in ahead overall compared to the same month last year. And, the number of pending sales reached 1,484, the most for any December since 2006! What’s causing all of this positive Portland real estate market action? Portland always...


Premiere Property Group

Premiere Property Group is Now #3 In Oregon

January 22, 2014

Premiere Property Group, LLC has risen to new heights in 2014. A locally owned and operated Realty company in Oregon and Washington, Premiere Property Group now ranks as the third largest (with 269 active real estate agents) Realty company in Oregon! In 2013, I was the #1 top producing real estate agent at Premiere Property Group. Honestly, I’ve never been happier at a Realty company than here at Premiere Property Group. There is a reason why we are one of the fastest growing Realty companies in the Northwest. Premiere Property Group provides first class office space, and an excellent secretarial staff. Currently, my main office is located at 3636 NE Broadway St, Portland, OR, but there are a number of...


portland days on market

Average Days on Market in Portland Real Estate by Area 2014

January 20, 2014

Entering into the 2014 Portland Real Estate Market it is crucial to consider the average days on market in 2013. At the end of 2013 North Portland had the fastest average days on market at a speedy 45. Average days on market is a strong indicator of what part of town is truly up-and-coming and what part of town is starting to decline. Right behind North Portland was Northwest Portland (up in the Forest Heights area), coming in at 48 average days on market. Third place was a close fight between Lake Oswego / West Linn at 91 days and Northeast Portland at 92 average days on market. This will be a surprise to some, but West Portland came in...


real estate online shopping

Portland Home Buyers Shop Online, Buy With a Real Estate Agent

January 2, 2014

Forget Silicon Valley – did you know the city of Portland, Oregon is the tech hub of the Pacific Northwest? HP, Intel, Yahoo! and hundreds of other web and tech businesses have major operations in the Portland area. Portland residents are known for being wired, and not just on coffee. We pride ourselves in being able to access information with the touch of a screen or click of the mouse. What does all of this have to do with real estate? Well, besides the technology industry providing thousands of jobs, making Portland a great place to relocate, it’s interesting to note how technology has changed the real estate industry itself. Stop for a moment and consider how you would go...