Portland Real Estate Blog

This is a top 100 real estate blog in the world according to Feedspot.com. In particular, this is a local real estate blog written by a top 1% real estate agent in the U.S., Stephen FitzMaurice, Realtor. Stephen regularly reports on the greater Portland metro area’s real estate market including annual housing forecasts and best time to sell or buy a home reports. He gives home selling and home buying professional advice. He also writes informative articles on Portland neighborhoods and suburbs as they relate to the real estate market. Finally, he writes to inform the general public about real estate agents, such as annual average real estate agent commission reports and more.

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vacant house sells better

What Status Sells a Home for More: Vacant, Seller, or Tenant Occupied? 2023 Report

May 8, 2023

There are a number of factors that cause homes to sell faster or slower and for more, or much less. Whether you’re picking the best time of the year to sell in (or the worst), whether you’re on the east or west side of Portland, whether your condo is downtown or elsewhere in the metro, whether your home is on septic or sewer, whether you have a swimming pool or not, whether your home is on a single level or multiple, there are many factors that drastically change how fast a home sells and for how much. Licensed since 2003, I’ve been writing these reports for the local Portland real estate market for years in order to inform the public...

home buyer tour

How Many Home Showings to Sell a Home? 2023 Report

May 5, 2023

My clients want to know, how many showings on average does it take to sell a home? So for a number of years now I’ve been writing a local research report on the topic. Thankfully, we do have access to the necessary data through RMLS. We get daily buyer traffic reports and inventory reports. The smart lockboxes we use locally record every home buyer showing. The MLS records when an offer is finally accepted and the homes goes into pending status. If you’re curious on the average number of days it takes to sell a home (annual reports), we have that for you. If you’re curious what the current real estate market is up to in the Portland, Oregon metro...

10 Reasons to Buy a Portland, Oregon Home in 2023

May 1, 2023

If there’s something I’ve learned in my 20 years as a Portland Realtor, it’s that conditions are never perfect for buying a home, though there are certainly times that are more ideal, but the decision to invest in a home is one of the most worthwhile decisions you can make. Homeownership can enhance your life in many ways, and there are excellent reasons to choose a home in Portland, Oregon specifically. If you are unsure or considering taking the leap toward homeownership, here is a list of ten reasons why you can feel confident about buying a home in Portland this year. 1. Portland Housing Prices are Rising Slowly According to a report from RMLS, the average home sale price...

swimming pool and home value

Swimming Pools Reduce Home Value in Portland, Oregon, 2023 Report

April 28, 2023

Swimming pools are a desirable feature in a hotel or resort, but for a owner-occupied home, it isn’t always preferred. There is no doubt that the addition of a swimming pool have a significant impact during the home’s experience on the real estate market. Swimming pools affect home values in different ways, depending on whether the property is expensive, such as luxury homes, or average priced for the area. We’re going to look at exactly how swimming pools are impacting homes on the market in Portland, Oregon in 2023. I’ve been selling homes in Portland, Oregon for 20 years now and know it is important for anyone considering adding a pool, or buying a home with a pool to understand...

portland condo market

Portland Downton Condos VS. Rest of Condos in the Metro, 2023 Report

April 24, 2023

Condos can be a great lifestyle choice for a home buyer that doesn’t have time or patience for routine home and yard maintenance issues. It can also be a great choice for a home buyer looking to purchase a second home, vacation property, or for someone who travels a lot and needs a low-maintenance homebased to return to. There are many reasons home buyers choose the condo lifestyle. Recent Market History for Condos in Portland, Oregon There are also many reasons why the Portland, Oregon condo market has been struggling since 2018. From 2017-2020 the heavy development of multiple luxury apartments in key locations (inner-eastside and downtown) have pulled potential condo buyers into high-rise luxury rental markets instead. Then the...

Mt. Hood, Oregon Real Estate Market, 2023 Update

April 21, 2023

Every month we feature a suburb of Portland and share an assessment of how its real estate market is performing. Check out our Portland Suburb Real Estate Market Reports to peruse a list of the suburbs we have profiled. This month’s focus is on Mt. Hood, and all the towns on it, a highly desirable area in which to live or own a vacation property for its beautiful mountain setting and plentiful outdoor recreation opportunities. Residents can take advantage of the nation’s longest ski season via six different ski areas on Mt. Hood or hike the nearby Columbia River Gorge to enjoy its scenic vistas. Mt. Hood is divided into smaller towns around the mountain, shaping distinct rural communities that are...

Cork Stripped Flooring: Better than Hardwoods?

April 17, 2023

If you’re looking for an earth-friendly material to replace or refinish your floors, whether in the interest of sustainability or to achieve a natural aesthetic or both, cork stripped flooring might just be the superior choice – even over the ever popular and time-tested hardwoods. There are several options in this category, but cork and hardwoods take the lead as both the most environmentally friendly and the most appealing to homeowners and homebuyers alike. Cork stripped flooring is made from the bark of the cork oak tree. Beginning when the tree is 25 years old, the cork is carefully harvested by hand with a small hatchet without damaging or hurting the tree. The cork is first punched into wine and...

Portland Real Estate Market, May 2023 Report

April 14, 2023

While spring warms the earth around us and nature responds with new growth, the housing market is also warming up with activity. Buyers and sellers are more motivated, and inventory is currently increasing as selling conditions become more desirable with a steady stream of new homebuyers entering the market. Housing Inventory and Buyer Traffic is Rising As expected, inventory is currently increasing as the market warms up to receive the influx of new buyers typically motivated by the advent of Spring. Right now we’re seeing a relatively low supply of homes compared to buyer demand resulting in slightly increased prices, and the current levels of each suggest that rising prices will continue for a short while at least (until inventory...

How Soon Can You Sell Your Portland Home After Buying It?

April 12, 2023

Buying a home is a big investment, one of the biggest in life for most people. According to the Zillow Group Consumer Housing Trends Report (2022), the typical homeowner will stay in their home for 14 years before putting it on the market. This allows substantial equity growth and avoids financial loss through capital gains tax, mortgage prepayment penalties, and more. However, with the impact of COVID19, many homeowners are selling sooner rather than later. In 2019, the Zillow Group Consumer Housing Trends Report found that the average homeowner will stay in their home for 15 years, so the global pandemic effectively lowered the average by a full year. There are many unavoidable life circumstances that can suddenly force an...

Portland Real Estate Affordability Rate: 2023 Report

April 10, 2023

Housing affordability in Portland is a concern that has been brought into the spotlight due to factors like rapid population growth (which has begun to drop), inflation combined with income rates failing to meet higher costs of living, and both increasing rent and high mortgage insurance rates. What is Portland’s Affordability Rate in 2023? To calculate housing affordability, The National Association of REALTORS® uses a formula that assumes a homebuyer has a 20% downpayment and a 30-year fixed rate mortgage of 6.36% (per Freddie Mac). RMLS utilizes this formula to generate a quarterly affordability graph for the Portland Metro area. As we can see in the graph above, a family earning the median income of $106,550 (per HUD) could afford...