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 housing inventory

Portland Housing Inventory is at Record Lows 2013

April 24, 2013

Can’t find a home? You’re not alone. Believe it or not, there are half as many (about 6,000) homes for sale in Portland this spring of 2013 verses the Portland housing inventory in spring 2011 (about 12,000 homes for sale). Multiple offers are becoming the norm in hot areas for any home that is priced at previous market prices. Across the board, homes are selling faster and for more in Portland. Now more than ever, you need a great Portland listing agent that can maximize the multiple offer situation or a Portland buyer’s agent who knows how to win in a multiple offer situation. Why are we seeing record low inventory in Portland? 1. Home builders in Portland have been...


portland real estate market

A Busy 2013 Spring for Portland Real Estate Agents

April 1, 2013

U.S. home sales are at three-year high, according an Associated Press story this week. Are Portland home sales following the nationwide trend? Judging from the February RMLS Report on the Portland real estate market that also came out this week, it looks like we’re on track to have a very fast-past year, indeed. Market inventory stands at 4.5 months, lower than the February inventory for the previous two years. Pending Portland real estate sales in February increased by 11.8% over last month. The RMLS reports that this is the best February for Portland pending sales since 2007. What does all this mean? Portland real estate agents are busy, and it’s a good time to be a home buyer or a...


Premiere Property Group

Top Growing Realty Company Expected to Hit #2 by end 2013

January 17, 2013

I choose to work with one of the fastest growing realty companies in Portland and I’m sure glad I did! Premiere Property Group in Portland is experiencing exponential growth and unprecedented expansion. We currently have offices in NE Portland, Clackamas, Vancouver, and Lake Oswego, with plans to open soon in Beaverton and Gresham. In 2012 Premiere Property Group hit # 10 in Oregon realty companies. Locally owned and operated, Premiere Property Group is a top 1% realty company in Portland. As a Top Portland Real Estate Agent, I always want to be working with the most progressive and forward thinking realty company to back up my real estate efforts for my clients. Honestly, I don’t think I could have made...


portland real estate market

Portland Real Estate Market Heading Up

January 2, 2013

The Portland real estate market is likely on an upswing, according to Lawrence Yun, chief economist of the National Association of Realtors and others who presented at the 2012 Realtors Conference and Expo. This is welcome news to nearly everyone involved in the real estate industry. As long as lenders are able to continue to lend, real estate market trends are almost all positive in the next few years, according to Yun. From inflation, to interest rates, to reconstruction, construction, fewer foreclosures on the market and pent-up demand for new homes, Yun touches on several areas that all point toward a positive next several years in real estate market trends. Because of these trends, rises in home sales are forecast...


top portland neighborhoods

Top Portland Neighborhoods for 2013 (part 1)

December 26, 2012

With 95 neighborhoods, the city of Portland has a place for everyone – seniors, families, first-time home buyers, and anyone looking for the convenience of urban life with the safety and familiarity of a good neighborhood. In 2012, we saw the Portland real estate market begin to pick up again, making 2013 the perfect year to invest in a home. Foreclosed properties and short sales continue to come on the market, and the savvy buyer might just find a screaming deal this year. Where are the great properties? All over the Portland, area, really. Young professionals continue to flood into the Pearl district and are starting to move into new developments in the south Waterfront and in North Portland. Southeast...


real estate inventory

Taking Inventory of the Portland Real Estate Market

December 3, 2012

The real estate industry keeps track of how it’s doing in funny ways. Mortgages are always going above or below water, but they never seem to get soggy. The real estate blogs are constantly searching for the mysterious “bottom of the market” (it must be down here somewhere!) Then there are the economic factors we like to pay attention to, the bulls and bears and consumer confidence indexes. Inventory is one of those head-scratchers in the real estate biz. To give an estimate of how the market is doing, it measures something that would never actually happen: Every homeowner decides they never want to move again and no new homes come on the market. In that case, how long would...


real estate maeket

Strong August Real Estate Numbers for Portland, U.S.

September 25, 2012

August’s home sales in the Portland area were the strongest in five years, according the Market Action report published by the RMLS last week. Home prices are also on the rise in Portland and across the US, a piece of good news that prompted coverage by the Associated Press and the Oregonian and gave hope to underwater mortgage holders. Does this month indicate that the housing market will soon recover to pre-recession levels? Nobody knows, but a closer look at the numbers will help Portland home buyers and sellers decide what their next steps will be. Last month, 2,311 homes were sold in the Portland metro area, which is a new record since 2007, before the housing market fell. High...


rent or own portland

Buy vs. Rent in Portland, How Long to Break Even?

August 7, 2012

According to a recent Zillow report the average time it takes to break even buying a home verses renting a home in the Portland metro area is 3.5 years. Depending on the neighborhood, it could take as long as 5 years or as short as 1.5 years. Ask your Portland Real Estate Agent which Portland neighborhood will give you a quicker return. Zillow took into account all the costs of renting including utilities and deposits and contrasted that with the costs of Portland homeownership including down payment, taxes, maintenance, utilities and more. Zillow also adjusted for future rent increases and future Portland home valuations. To summarize, it is a great financial idea to buy a Portland home if you are...


portland home prices

Portland Home Prices Rise, Zillow says 4.3% Higher 2013

August 1, 2012

For the first time since the housing market crash prices have risen nationally from one quarter to the next, in this case, from the first quarter of 2012 to the second. Nationally that rise barely occurred, .02%. In Portland we are looking at a 6% increase in the housing market this year. However, last fall and winter prices dropped in Portland over 10-12% and so from year to year homes are still cheaper in Portland than in 2011. Is this the beginning of a housing turn in Portland? Zillow thinks so and is forecasting a 4.3% increase in Portland housing prices in 2013. Other analysts are less optimistic pointing to an ongoing shadow inventory of foreclosed homes that have yet...


top websites for real estate

Top 4 Real Estate Websites: Zillow, Trulia, Yahoo, & Realtor

July 31, 2012

Continuing their dominance, Zillow, Trulia, Yahoo, and Realtor.com round out the top four used real estate websites, according to HitWize. For those who are unaware, Zillow powers Yahoo’s real estate sites making Zillow as a program both first and third. Realtor.com has slowly slipped from the top spot, but remains number one in a number of other important categories, like time on site. As a local Portland Realtor, my suggestion is to use Realtor.com, or my Portland home search program. While Zillow continues to be the most popular it also has the worst data. Homes shown as active on Zillow may have expired or sold months or even years prior. Trulia maintains a better data program, but still suffers from...