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

buy a home in portland real estate market

10 Reasons to Buy a Home in Portland in 2020

March 13, 2020

Buying a home is a goal that’s easy to put off until “next year”. Here are ten reasons why this year, 2020, is the year to become a homeowner in Portland!  Real estate values have cooled, but not for long. Five years ago, we were seeing rapid, 7-8% annual gains in Portland home values as the market rebounded after the Great Recession. More recently, 2017-19 saw a period of limited growth, and some home values even dropped a bit in the midrange of the market. In these first couple months of 2020, we’re seeing a strong real estate market with good indicators of growth: a strong Portland economy, low unemployment, and high demand for homes. We predict the Portland real...

california and portland takeover

Is California Taking Over Portland? 2020 Update

March 6, 2020

Anyone who spends much time talking to newcomers in Portland (and as real estate agents, we do a lot of that), will notice one thing over and over: There are a lot of Californians coming here! Note the following recent trends:  Nearly 40,000 Californians move to Oregon every year (source: Oregon Employment Department) Every year, 20,000 Oregonians also move to California (Oregon Employment Department) 30-40% of Oregon’s incoming population over the past few years has been made up of Californians (Oregon Office of Economic Analysis) Should we pay attention to this? Yes, real estate market trends and population dynamics are closely linked. But the story is more complicated than how many Californians are coming here. In other words, Portland’s population...

school ratings change home value

School Ratings Impact Home Values: 2020 Update

February 21, 2020

A lot of things matter when it comes to the final sale price of a home – its size, location, age, even energy efficiency. But one major influence we’ve seen emerging in the real estate market over recent years is school ratings. In 2020, home buyers and sellers alike need to be aware of how the schools near their home are rated, and how that rating can affect home values both now and in the future. Why School Ratings, Why Now? As real estate agents, we have to know and respond to market forces, even as we try to combat misconceptions about what makes a school, home or neighborhood desirable or undesirable. It’s difficult in the case of schools because...

top real estate websites by traffic

Top 10 Real Estate Websites by Traffic – 2020 Update

February 14, 2020

Real estate websites have a huge impact on the housing industry. Nearly every American spends time on one real estate website or another, looking for homes for sale, researching home prices, and staying in touch with the real estate market. NAR, the National Association of Realtors, reports that 95% of home buyers will search for their next home online. This report specifically focuses on websites buyers are using to search for homes. We pay extra on the top real estate websites. It is obvious where home buyers are, and we watch the numbers closely. Because most home sells are due to internet marketing, we track where the buyers are engaging online and pay extra money direct to real estate websites...

escrow earnest money fact fiction real estate

Escrow and Earnest Money FAQ – Fact or Fiction

February 7, 2020

“Escrow” is a hard-working word in real estate. It’s also the process (Or is it just a period of time? We’ll get to that in a minute) with a number of pitfalls for first-time home buyers and sellers. On the other hand, even experienced real estate agents have been known to believe some of the escrow and earnest money myths that circulate regularly. In this article, we’ll break down some of the “facts and fictions” you’re most likely to hear about escrow in 2020. Fact or Fiction? “Escrow” refers to a bank account, not a period of time, so you shouldn’t say “in escrow”. Fiction! Escrow is both – in fact, you could say that escrow is three things: A...

portland real estate market forecast

2020 Portland Real Estate Forecast (final)

January 31, 2020

This is our final Portland housing forecast for 2020, updated from our first prediction written in August. In this article we are going to address the financial market indicators that bolster a relatively stable real estate market prediction. We are going to address interest rates, housing affordability, foreclosure rates, construction rates, and crime statistics. See the initial 2020 forecast for a break down on your home’s value forecast based on specific criteria, such as its price range and the type of home you own. Of course for an exact home value estimate or forecast of your property, if you’re considering selling in the next year or two, call us direct and have us out to meet with you. Portland Real...

best time to sell a home in real estate

Best Time to Sell a House in Portland – 2020 Update

January 24, 2020

In 2020, the Portland real estate market is split. Some parts of the Portland real estate market are cooling and are firmly considered a buyer’s market, while other segments of the Portland real estate market are still hot and considered a seller’s market. See our full 2020 Portland real estate market forecast here. In general, Portland condos downtown are in the buyer’s market category (your best buy in Portland right now) and many luxury homes in the Portland market (not all areas, but most) are in the buyer’s market category. But anything close to the city under 450K in price is most likely firmly in a seller’s market. All of the above will continue for the entire 2020 year, but...

buy portland condo real estate

10 Things to Know Before Buying a Condo in Portland

January 20, 2020

Half of the condos in Portland are downtown. A recent real estate search found that nearly half of the condos currently on the market in Portland are located in the downtown area, including the Peal District, Nob Hill, Goose Hollow and South Waterfront neighborhoods.  Portland condos are green. For those wishing to do without a personal vehicle, buying a condo may be the best way to do it. From a downtown Portland condo, shops, restaurants and offices are steps away. Portland’s mass transit system — including light rail, streetcar and bus — will get you anywhere you need to go in the metro area. And many Portland condo highrises are built to the highest green standard available: LEED Platinum. Most condos are...

what makes a home sell in real estate

What makes a Home Sell? – 2020 Update

January 10, 2020

There are more ways in 2020 to sell a home than ever before. We discussed the four major ways to sell a home in this detailed real estate podcast: Now we want to build on that and explain the science behind the methods, what exactly makes a home sell in the U.S. in the year 2020 (and beyond). Thankfully every year the National Association of Realtors does extensive research to determine just that, all the forces that cause a home to sell. The profile of home buyers and sellers report is so comprehensive that anything that doesn’t make the NAR list of what causes a home to sell, simply doesn’t make an impact on the real estate market at all....

portland real estate market review

Top 5 Portland Real Estate Market News Stories – 2019 Recap

December 20, 2019

Like previous years, 2019 was one in which technology dramatically shifted the age-old practice of buying and selling real estate. On one hand, the increased access to real estate market data that we now enjoy allows both buyers and sellers to make better decisions. On the other hand, technology has also clouded the real estate market by inserting iBuyers and corporate investors into what has primarily been a person-to-person exchange. In addition to these stories, we’ve covered important news on affordability and housing here in Portland, including local changes to the way new housing is developed. All in all, we published over 100 articles here on the real estate blog in 2019! Now we’re asking what we can learn from...