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

Top 7 Real Estate Apps – 2019 Update

June 14, 2019

Ten years ago, the best your phone could do to help you with home buying or selling was to allow you to check your email for updates from your real estate agent. Today, representing you in a real estate transaction is just about the only thing your smartphone can’t do. This summer, as the Portland real estate market heats up, buyers and sellers need to have the best tools at hand to beat out the competition. From shopping for homes to planning remodels, here’s our guide to the best real estate apps on the market this year.  1. Biggerpockets App Want to enter the world of real estate investments? BiggerPockets has emerged in the last few years as the #1...

Should Seller Pay Buyer’s Closing Costs? – 2019 Update

May 31, 2019

1. Why does the buyer think the seller should pay? Many times sellers have not purchased a home in a while and it is easy to forget just how much it costs upfront for the buyer. The buyer must pay for the home inspection out of pocket (now typically around $500 or more for older homes), pay for the appraisal out of pocket (now often over $1,000), pay the downpayment (typically 5 to 20% with only 20% getting the best loans) and put down earnest money immediately (included as part of the downpayment and typically 1% of the sales price in our area), and pay loan origination costs and closing fees. That is a lot of money upfront. Even for...

Top 5 Portland Real Estate News Stories: First Half 2019

May 24, 2019

We’re already halfway through 2019 which means it’s time to take a quick look back at some of the top Portland real estate market news stories. From slow growth to fast-moving fraudsters, here’s our guide to what Portland home buyers and sellers should know about real estate in and around Portland.   Growth has slowed. After years of median home price increases in the high single and even some double digits, Portland’s real estate market has stabilized a bit. As of this April, the median home price has grown just 1.2% this year, with prices falling in some market sectors. It’s not an alarming change for those who have been in the real estate business for a long time, but...

New Max Line for Tigard, SW Portland Coming 2027.

May 20, 2019

Getting to the West Hills and suburbs southwest of Portland is going to be easier in a few years, thanks to a new MAX light rail line. The line will transform what’s known as the Southwest Corridor — Barbur Boulevard/Highway 99W going out to the cities of Tigard and Tualatin — with commercial development. And, if a coalition of Portland and Tigard planners get their way, there’ll be new housing to go along with it. Massive New Max Line The twelve-mile, yet-to-be-color-coded Southwest Corridor extension of the MAX system will be the longest line built since the completion of the Blue line in 1998. If all goes according to plan, the line will open in 2027 for a price tag...

Escrow Earnest Money Fact or Fiction – 2019 Update

May 17, 2019

True or false: The average length of time a home spends in escrow has gone down over the last ten years, thanks to technological improvements. False! Escrow is a very important period of time in the home sale transaction, one that real estate agents don’t expect to see shrinking anytime soon. Yes, electronic signatures are great, but it still takes an average of 30-45 days to get a home from accepted offer to final closing, and that’s a good thing. During the escrow period, buyers can have a home inspection done, and sellers can complete any requested home repairs. The appraisal has to be ordered, performed, and reviewed. The title company can do their work ensuring that the fine details...

What Sells Better: Vacant, Seller, or Tenant Occupied Homes? – 2019 Update

May 10, 2019

Any good real estate agent in Portland will tell you vacant homes sell best (staged or not), followed by seller occupied, and then in last place – tenant occupied homes. But the numbers are so drastic, especially from first to third place, it might surprise you. When you look at these numbers year over year it also gives key insight into the entire Portland real estate market as a whole. Process used: I’m researching this element of the Portland real estate market using data from our local MLS, the RMLS, looking at sold homes from 6 months ago to the writing of this article 5/9/19. My target area is the city of Portland proper and the homes I’m using are...

top real estate website by traffic

Top 10 Real Estate Websites by Traffic – 2019 Update

April 29, 2019

If you read a real estate traffic article that still lists Yahoo Homes on it – you know that article is out of date by many, many years! (I’m looking at you Ebizmba.) Yahoo Homes is completely gone and has been for a long time. It is hard to get accurate data on the most trafficked real estate websites, but we’ve found it. The top real estate websites have incredible power to sell homes. According to the National Association of Realtors 95% of home buyers will use the internet to find their next home. Very few homes are sold because of open houses, print ads, yard signs, or any other marketing medium. This is why as the number one home...

portland real estate market airbnb

Airbnb vs. Portland Real Estate Market – Good or Bad?

April 22, 2019

The multi-billion dollar startup that allows homeowners to enter the hospitality business is transforming the Portland housing market. What’s the true impact on renters, homeowners, buyers and real estate investors, and what is the city going to do about it?  ABCs of Airbnb In case you weren’t already familiar, Airbnb is a service that allows individual homeowners to list their spare room or the entire house as a short-term rental. Although its corporate headquarters are in Portland, and over 5,300 Airbnb listings are offered here, worldwide it has more than 4.5 million listings in over 190 countries. Although there are 15+ different sites that allow Portland homeowners to list short-term rentals, the vast majority are using Airbnb. How Portland Handles...

top 10 portland neighborhoods

Top 10 Portland Hottest Neighborhoods – 2019 Update

April 12, 2019

Over 9,400 homes sold in Portland in 2018, according to the RMLS, and a new analysis from Portland Monthly and geographers at Portland State University shows that most of those homes were in East Portland. The below list is based on the number of homes sold in a neighborhood last year, which means that more dense neighborhoods or those with higher populations are going to rank higher. So keep that in mind as you review the top 10 Portland neighborhoods for closed sales last year. A lot has changed in the Portland real estate market over the past couple of years. Notably, the average number of days a home spends on the market before it is sold has gone up,...

portland condo market 2019

Portland Condo Market – 2019 Update

April 9, 2019

The Portland condo market has seen better days. For starters, where are the new condos? For the last ten years Portland has only added 794 condo units and in the same time period added thousands of apartments. In fact, that is one of the major reasons for the Portland condo market cooldown – all the cranes we’re all watching have ended up constructing apartments or offices, seemingly anything but new condos. Despite the lack of new Portland condos, it has been increasingly tough to move them. Portland condo inventory has increased dramatically over time. Active Portland condos on the spring market: April 2017 – 360 for sale in April. April 2018 – 575 for sale in April. April 2019 –...