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 research

Portland Real Estate Market Research Guide

September 13, 2019

As a real estate professional, numbers are my secret superpower. Numbers paint a picture of the Portland real estate market, allowing our team to effectively market your home, or, for buyers, closely match the offer we write to what the seller is willing to accept.  These days, it’s possible to find numbers measuring Portland real estate market activity for each neighborhood or suburb of Portland, and they change daily. Even if you understand what all the numbers mean, they can vary from source to source — the RMLS, Zillow, etc. — so who do you trust? We’ll get to that in the second part of this post, but first, here are the basic metrics to track if you want to...

home not selling what to do

My Home is Not Selling. What can I do? – 2019 Update

September 6, 2019

Portland Real Estate Market, Then and Now For the greater Portland metro area home prices have been increasing across the board from 2012 to 2016. In 2017 things changed. High priced homes and some high-end luxury properties started to decrease in value, but most of the residential housing market still increased in value. In 2018, high-end and middle value condos decreased in price and a significant portion of the Portland luxury market decreased in price. In 2019, the majority of condos decreased in price, nearly all homes over 600,000 decreased in price, and only lower priced homes, say under 400,000 actually saw appreciation in the Portland real estate market in 2019. Portland Real Estate Market, The Future We just completed...

portland real estate market forecast

2020 Portland Real Estate Market Forecast

August 30, 2019

Here is our first 2020 Portland real estate market forecast. We will follow up with a final forecast in January. Below are early housing market forecasts from other sources about the entire country’s real estate market in 2020 and Portland Oregon’s housing market specifically. There are not a lot of early predictions, which is why we will follow up with a final forecast in early Jan. for 2020. National Real Estate Market 2020 Predictions Zillow Housing Forecast = +2.2% CoreLogic Housing Forecast = +5% Portland Real Estate Market 2020 Predictions Zillow Portland Forecast = -2.1% My prediction = -3% Will my Portland Home Value Increase or Decrease in 2020? First we have to determine what type of Portland home you...

portland affordable neighborhoods housing

Top 10 Affordable Portland Neighborhoods – 2019 Update

August 26, 2019

Growth has been the story of the Portland real estate market almost since it was established as the endpoint to the Oregon Trail. Back then, a home could be purchased for a few hundred dollars, but where are we now? Overall, less affordable — it’s true. The average cost of a square foot of home in Portland is $295, a fact that has driven many to the surrounding suburbs. However, compare Portland to other west coast hotspots like the San Francisco bay area ($498/square foot) and Seattle ($521/square foot), and suddenly our city looks like a much better investment. Within the Portland real estate market itself, of course, there is great variability. Affordability varies from neighborhood to neighborhood. Overall, the...

How Long to Sell My Portland Home? – 2019 Update

August 9, 2019

Longer than you’d think! The average days it takes a home before it receives an accepted offer on the Portland real estate market and goes pending is charted by RMLS, our local multiple listing service. The below picture shows how many days on average it has taken for the last five years to get an accepted offer on a Portland home in our real estate market. This snapshot was taking in June of each year for comparison. You’ll notice in the above chart that even when the Portland real estate market was the absolute hottest (2016) the average time it took to sell a home was about one month. Right now that has turned into a month and a half...

zillow opendoor ibuyer

iBuyer Warning. Read before selling your home to Opendoor, Zillow, etc.

July 22, 2019

This July, real estate giant Zillow joined startup Opendoor (and other ibuyers) to begin buying homes directly from homeowners in the Portland real estate market. Through the trend known as instant offers, or ibuyers, customers can fill out a quick online form and get an offer on their home in one or two business days. Should Portland home owners be tempted to request an “instant offer” and cash out their home the digital way? iBuyers are quick to point out the advantages: Not only will home owners supposedly save time in waiting for a traditional buyer to make a serious offer on the home, but they will also save the hassle of showing the home. So what’s there to lose?...

portland real estate market summer

Portland Real Estate Market – 1st Half 2019 Update

July 15, 2019

If you’ve been following Portland real estate market news lately, the stories are conflicting. Prices are up, prices are down. Homes are selling fast, the housing market is cooling off. It can be hard to get a good read on what is happening based off various market news reports looking at one small real estate segment or another. It is important to look at the Portland real estate market as a whole, and then break it down into the smaller parts. Quick note, this article is focused on the Portland residential market, not commercial or rental. Portland Real Estate Prices are Stable Now and will Drop Soon Overall Portland real estate market prices in 2019 are up a mere 0.7...

Top 5 Costly Home Selling Mistakes

June 24, 2019

Are you selling a home in the Portland real estate market this summer, or just considering putting it on the market? As your pro real estate team, we want you to get the best possible sales price for that home. Here are five big price-killers, costly home selling mistakes, to avoid. 1. Selling a Home at the Wrong Time During early summer, buyer activity is at its peak, but inventory is also high, meaning your home could be overlooked. Generally, spring is the best time to sell a home in Portland, when inventory is low and eager buyers are hitting the market. Early summer is also good, but we don’t recommend listing in August, unless you can’t avoid it. Inventory...

portland home value estimate

Portland Home Value Estimate – 2019 Update

June 21, 2019

Curious about your Portland home value estimate? The Portland real estate market has been up and down for the last few years with some housing segments increasing in value and others decreasing. So it is important to know what your best sources of information are for finding your home value. 3 Ways to Find your Home Value Sure you can read the titles and get the basic idea, but the real tips are in the paragraphs themselves, so don’t skim read this one! 1. Free Online Home Value Estimates The Zestimate, a home value estimate from Zillow, gets a lot of press. As a top Portland real estate agent with over 1,000 sales, I’m often comparing my pricing research with...

Top 3 Economic Forces in the Portland Real Estate Market

June 17, 2019

A generation or two ago, Oregon would have been considered a nice place to live, but not necessarily a hotspot for real estate investment. Today, the dynamic has been turned on its head, with Portland emerging as an influential U.S. city and the Oregon economy continually growing, bringing home values up with it (prices over 600K are dropping in most areas, but under that are still appreciating, for more on the luxury and condo Portland real estate market cooling go here). But can this growth be sustained long term? Fortunately, we don’t have to guess at the answer to that question — thanks to the Regional MLS and state economists, we have data. Here are the top 3 reasons we...