Swimming Pools Reduce Home Value in Portland, Oregon, 2023 Report
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 the impact it will have on their home value and market experience. The research I’m conducting below refers to outdoor, in-ground pools only.
Swimming pools are expensive.
Below ground, permanent swimming pools cost a lot of money to install, a lot of money to remove, and a lot of money to maintain property. Swimming pools in Portland need to be installed with permits (here is the city page on permitting pools). There are new technologies that can help, such as solar heated pools and new wireless monitoring systems that notify you when you need to add or adjust the chemicals.
Swimming pools kill.
Swimming pools kill hundreds of pets and children each year (I wish this wasn’t true). Downing is the leading cause of death for children ages 1-4. While terrible to think about, it is something every potential pool owner needs to be fully aware of.
Swimming pools are fun.
Not trying to point out just the negatives here. Many families and individuals enjoy their pools and make sure to follow safety protocols to keep everyone safe.
Portland Sold Homes with Swimming Pools under 1 Million
On to the research. We are using RMLS data to create this report. I’m looking at all detached homes sold in the last twelve months with an exterior pool (not inside the home) in Portland, Oregon city proper. This would be from April 20th, 2022 to April 20th, 2023. In that timeframe, 111 detached homes sold with an exterior pool. About two-thirds of those homes, 74 of them, were sold for under 1 million.
|Under 1 Million in Price||Number||Sold Price Per Sq. Ft.||Sold For:|
|Homes with a Pool||74||280||5% Less|
|Homes without a Pool||7,041||294|
Portland Sold Homes with Swimming Pools over 1 Million
|Over 1 Million in Price||Number||Days on Market||Took:||Sold Price Per Sq. Ft.||Sold For:|
|Homes with a Pool||37||74||217% Longer||$499||38% More|
|Homes without a Pool||857||32||$360|
Swimming Pool Impact on Home Value Summary
Similar to our swimming pool report in 2022, homes with pools under 1 million in 2023 sold for less per sq. ft. than homes without a pool. But, luxury homes, or homes that sold for over 1 million in 2023 all sold for more if they had a pool than if they didn’t, a whopping 38% more per sq. ft. These luxury homes with pools also took a whopping 217% longer to sell in 2023 (they also took longer to sell in our 2022 report).
Work with a Portland Expert
If you’re thinking of selling your home in the next twelve months, our top 1% sellers agents would love to come out and take a look at your place. We charge less commission than most, and pay more to market our client’s homes effectively so they sell faster and for more. (By the way, when selling homes with pools this means taking professional photos on a sunny day along with some incredible drone photography.)
If you’re thinking of buying a home in Portland, Oregon with or without a pool, our top 1% Portland buyers agents would love to speak with you today. They are passionate about connecting buyers with the right homes and would love to hear what you’re looking for.
Use our local, incredible home search website to find your next Portland home for sale with a swimming pool.
Give us a call today at 503-714-1111, or chat with the bot on this site. We’d love to connect!April 28, 2023