Portland Real Estate Market – 2015 Fun Facts Mashup

Last month, the Portland Business Journal did an analysis of the RMLS data and came up with the 25 hottest neighborhoods in Portland — by the number of days on the market and the total number of sales per zip code. All numbers are for the third quarter of 2015, aka the summer peak-sales months of July, August and September. To make it more interesting, we’ve mashed these numbers with some fun facts about Oregon:

Between July and September, a total of nearly 10,000 homes were sold. If the entire population of Astoria, Oregon bought a home in Portland, that’s how many they’d buy!

More homes sold in the suburbs than in the heart of the city – which makes sense because that’s where most of homes are in the Portland area. The “hottest neighborhood” in this category was Forest Heights/Bethany, with 372 homes sold. Beaverton/Aloha, Foster/Powell, and Oregon City/Happy Valley also ranked high, each selling more than 300 homes this summer.

The average home in Portland sold in 44 days. That’s a 15% increase from the previous quarter. That’s also the gestation period of the gray squirrel, many of which can be seen scurrying through the neighborhoods of Portland.

The “hottest neighborhood” by this measure was Ladd’s Addition/Hawthorne, where homes sold in a brief 17 days! Also hot were North Tabor, Milwaukie, Piedmont/Concordia and Beaverton/Aloha, all selling homes in less than 20 days. That’s about how long it took the Lewis and Clark expedition to reach the Pacific Ocean, after scouting it out from their camp at what is now Portland.

This quarter, the greater Portland region saw 9,772 home sales, up from 7,933 sales for the summer of last year (2014). That means sales grew 23% year-over-year. If the city of Portland were to grow that much, we would encompass the city of Vancouver, Washington, too!

There are a total of 101 zip codes in the Portland metro region. The 25 top neighborhoods (grouped by zip code for this report) accounted for more than half of the sales this quarter.

Looking for more information on the Portland housing market? Your Portland listing agent and buyers’ team are standing by.