Portland Real Estate Market

The 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.

Bookmark this page for monthly Portland real estate market updates, annual forecasts, Portland condo market updates, HOA reports, Portland population rates, local short sale and foreclosure updates, and more.

If you’re thinking of selling your home in the next twelve months, Stephen would love to tour your home. Call today to set an appointment.

Stephen FitzMaurice, Realtor
4% Max. to Sell a Home
Cancel Anytime Policy
Licensed Since 2003
503-714-1111

If you’re considering buying a home in the next twelve months, Kami Price, buyers specialist would love to hear what you’re looking for. Call today to set an appointment.

Kami Price, Realtor
Represented Hundreds of Buyers
Licensed since 2004
503-773-0000

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...

portland foreclosure rate

The Foreclosure Rate is Falling in Portland and Across the Country

October 31, 2012

Foreclosure rates in the majority of US cities have hit a 5-year low, according to several sources. This is good news for just about everyone, current homeowners, sellers, and buyers alike. Fewer reported foreclosures can indicate that the economy is rebounding. When the foreclosure rate is down, it can suggest that less people are losing their jobs, getting behind on their payments and being foreclosed on. This can have stabilizing effect on the market, as it helps to fuel optimism and speculation about what the future may hold and can encourage more people to make a move either toward buying or selling as their income becomes more reliable. Also, lower foreclosure rates in many cases across the country are indicative...

Short Sale Tax Exemption

Short Sale Tax Exemption Could End Soon

October 17, 2012

Short Sale Tax Exemption / Mortgage Debt Relief Act of 2007 is set to expire on December 31st, 2012. If you’re wondering what I’m talking about and have had any portion of the mortgage on your principal residence forgiven by a lender or plan to in the coming year, you should read this article. For more information on Short Sale Tax, visit our article: “What is the Short Sale Tax?” For the last 5 years, the Mortgage Debt Relief Act of 2007 has allowed borrowers who fall into this category to fill out a form come tax time that keeps this forgiven loan amount from being taxed as income. Without this Act, these borrowers could have faced a potentially huge...

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...

portland real estate market

Portland Home Sales, Prices on the Rise

July 23, 2012

Good news for Portland home sellers: Prices may not be what they were before the housing bubble burst, but they are getting better. Compared to last year, the number of homes sold in the Portland metro area has also risen, shrinking the inventory of unsold homes. The most recent Portland RMLS report, which describes the state of the housing market in June 2012 compared with previous months and years, showed an 8.6% rise in the median sales price over the past 12 months. Still, we’re not at peak 2007 prices, which averaged $355,000 for a Portland home. Now, the average price is $285,000, but that’s after three solid months of improvement. Realtor.com, which publishes national real estate news, also found...

short sale assistance for military

New Short Sale Assistance for Portland Military Homeowners

June 30, 2012

New Frannie Mae and Freddie Mac policies will make it easier for military homeowners to short sale their homes when they must move because of a change in station. The Federal Housing Finance Agency announced June 21 that Fannie Mae and Freddie Mac will no longer be permitted to pursue a deficiency judgment, promissory note or any cash contribution from members of the military who have negotiated a short sale for their home. In Portland, short sales have taken off this year, and with recent federal regulations that have sped up the short sale process, more and more people are choosing this foreclosure alternative. In 2011, short sales made up 11% of all Portland home sales, up 2% from the...