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

rising real estate home prices

How Long Will Housing Prices Rise Nationally?

May 30, 2022

Big questions still loom large in the world of real estate, one of which is: “How long will housing prices rise?” While none of us has a crystal ball, we can look to recent past trends and what experts are saying to arrive at a well-informed answer. Here’s what we know. Will the Current Seller’s Market Still Hold in 2022? The hot, record-setting competitive year we saw in real estate in 2021 has maintained a strong seller’s market. The primary reason for this was the number of potential buyers outpacing inventory, which led to rapid price increases and even bidding wars in some areas. While this dynamic is expected to stay throughout 2022, higher mortgage rates will slow down the...

portland condo market 2022

Portland Real Estate Condo Market, 2022

May 27, 2022

Recent history. The Portland condo market took an absolute beating in 2020 after slowing down for years prior to the start of the pandemic. While the single family real estate market in Portland started booming by fall 2020 and hasn’t stopped skyrocketing (until very, very recently), the condo market in 2021 saw modest gains and recovery from an absolute frigid 2020. Now the condo market in Portland, having lived through the early stretches of the pandemic and the downtown riots that followed, is finally stable again in 2022. However, did the Portland condo market recover just in time for the greater real estate market to drop? Looking at the Utterly Terrible 2020 Portland Condo Market For much of 2020, only...

portland real estate market

Portland Real Estate Market Update, June 2022

May 13, 2022

We’ve all been waiting and wondering what it will take to shift the real estate market in Portland after two years of an unprecedented sellers market. Prices have continued to rise at record rates with inventory remaining low. While it is obvious this state of affairs isn’t sustainable, when the shift would happen and what would cause it have been big question marks for everyone. Interest Rate Hikes are Now, and Will Continue to Slow the Market How do I know that the interest rate hikes are causing a slowdown? We look at weekly buyer traffic reports. Typically from March to May home buyer traffic (visiting homes for sale to purchase them) increases and peaks in May. In 2022, home...

portland zip code map

Top 4 Portland, Oregon Zip Code Maps in 2022

May 4, 2022

Most people don’t think about the importance of zip codes when house shopping. However, understanding how these numeric representations of cities, their neighborhoods, and their districts work can play a big part in gaining valuable information when deciding where to live. Let’s first take a look at how zip codes work. How Do Zip Codes Work and What do They Tell Us? The necessity for zip codes to achieve expediency and accuracy in mailing anything in the U.S. is common knowledge. That was the U.S. Postal Service’s intent in 1963 when they first instituted use of the five-digit number at the end of any address to which a letter or package would be sent. Finding ways to streamline delivery at...

portland real estate market

Portland Real Estate Market, May 2022 Report – A Wild Ride

April 20, 2022

We live in interesting times. The Portland real estate market was scorching hot in the first quart of 2022 with no end in sight for skyrocketing home prices and crazy bidding wars. But mortgage interest rates are rising incredibly fast and in April we started to see the first slowdowns in the market. (Typically April is always hotter than March in Portland real estate, but probably not this year.) Buyer Traffic is Dropping in Response to Rising Interest Rates The above is for all Oregon homes listed in our local MLS, RMLS that is centered in Portland, Oregon. Buyer traffic typically never drops in April. Inventory will Remain Low through Spring and Summer There simply has been almost no inventory...

portland real estate market 2022

Top 5 Real Estate Market News Stories of 2022 so Far

April 8, 2022

We keep track of what’s going on in the world of real estate, both near and far. We wanted to see how it all looks now that we’re about to move into the second quarter of the year. We get that times are strange in real estate right now, but it’s a great time to buy, considering what’s likely coming down the pike. While price increases and low inventory are not news, there’s plenty more going on that’s worth your attention. Especially if you’re thinking of selling or buying in 2022. 1. The Fed’s Rate Hikes Will Affect Real Estate The Federal Reserve just approved a 0.25 percentage point interest rate hike, the first since December 2018, with six more...

Portland Housing Affordability Rate, 2022 Report

April 4, 2022

We recently wrote about Oregon’s growing population, with many of its migrants being Californians looking for more affordable housing. While this may come as a surprise to Portlanders who have faced increasing rents and home prices, Portland is still more affordable than many west coast cities. But what about those who have lived in the Portland metro area for years? How is the city’s level of affordability affecting them? And how does Portland’s affordability stack up against other cities in the country? We looked into it all and here’s what we found. What is Portland’s Affordability Rate in 2022? RMLS provides a quarterly affordability chart for the Portland metro area. They use the NAR formula for housing affordability: Affordability is...

portland real estate map

5 Essential Portland Neighborhood Maps

March 23, 2022

Maps have existed for thousands of years serving to help people get where they’re going and educate them about geographies and terrains. While we’re long past the practice of plotting maps on clay tablets and parchment, we all still rely on them every day. If you’re thinking about moving to Portland, if you’re new to the area, or even if you’re considering moving to a new neighborhood in the city, a variety of good maps can help. Many of Portland’s neighborhoods are self-contained entities full of plentiful resources within walking distance. It’s easy to stick close to home and not get too familiar with the city as a whole. But if you do plan to relocate, getting a broader view...

Portland Real Estate Market Report – March 2022

March 16, 2022

As we move into the spring Portland real estate market, we’re looking at the numbers to see what’s happening. Last month, we reported that experts are predicting a “brutal” spring market, and from what we’re seeing, they’re right. As always, we look to RMLS and Fidelity National Title for our data, and we’re reporting what we found here mixed in with our own experiences on the ground. Real Estate Prices Are on the Rise in Portland We checked the activity in Portland’s four quadrants and found that most of the activity, in terms of closed sales, happened in SE and West Portland. Some of the highest price increases in the past year also occurred in these areas, at 12.0% and...

How Many Californians are Moving to Portland? – 2022 Report

March 4, 2022

Californians have been migrating north to Oregon for years, and despite the pandemic, the past couple of years have been no different. While COVID did slow both in- and out-migration in early 2020, some population growth returned in 2021, according to the Portland State University Population Research Center (PRC). This isn’t to say that Oregon is experiencing a population boom. It isn’t. But, Multnomah, Washington, and Clackamas counties all saw increases in population with key factors being more affordable real estate and job availability. With home prices increasing as they have in the past couple of years here in Portland, it’s hard to believe people find them attractive, but they do. Especially when coming from California, where the median home...