Fall Housing Report

Real Estate
Numbers for pending and sold homes throughout the Portland metro area are cooling off with the return of the school year and the end of the (traditionally busy) summer real estate buying season. The seasonal fluctuation of the local Oregon housing market is normal and may be influenced by such factors as family's school year, increased vacation time in the summer in addition to buyers being more apt to shop for homes during summer's longer and warmer days/evenings. The biggest story in real estate for this season seems to be consistently low inventory of available homes for sale in Portland, Oregon. The year-on-year graph to the left clearly shows 2015 in red with September, 2015 showing only 5,657 active listings compared to 7,438 available properties for the same month a…
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Portland Homes: Quartile Data

Real Estate
Portland, Oregon: Housing Quartile Data In Review Real estate quartiles are a method of data review that takes all of the residential properties in a given area and divides them into groups organized by price percentile. As an example, if there were 100 real estate listings each quartile would have 25 properties each and represent 25% of the properties in an area. Quartiles are arranged by price so that the 25% of properties with the most expensive prices would make up the top quartile, the upper/second quartile is made up of properties in the 51-75 percentile group and so on. This quartile data gives a worthwhile window into the landscape of a housing market that offers more background than looking at gross sales or average prices in all quartiles together.…
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Portland Housing Sustainability: Summer 2015

Portland Housing Sustainability: Summer 2015

Real Estate
[caption id="attachment_7379" align="alignright" width="200"] Conditions in the Portland Housing Market: Summer 2015[/caption] As of July 31th, 2015 the median list price for residential real estate in Portland, Oregon is $449,350 and showing a strong upward trend. In contrast, the average asking price is $589,851. There are 1181 property listings currently listed with 91 days being the average number of days on market. But, will this strong seller's market last? Or, as we eclipse the highs of the previous housing bubble, will the housing market be preparing for a pause, settling or new downturn? Current indicators show that this is a strong "seller's market" and market action is holding steady and inventory of available listings is also steeply increasing. These upward trends reflect the increased competition amongst well-qualified buyers trying to…
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Short Sales in 2015

Real Estate, Short Sales
How Short Sales Have Changed in the Year 2015 Increases in home values in the Portland area, defaulted properties going to foreclosure and home owners completing short sales are all contributing to a reduced amount of short sale inventory. However, high demand from well-qualified home buyers and a pronounced dearth of available homes for sale in Portland mean that short sales remain a viable option for sellers with negative equity as well as cost-conscious consumers looking for a good deal on real estate in Portland, Oregon and surrounding communities. Further slowing down housing inventory turnover are home owners who are upside down that may be holding out on selling in the hope that prices will increase further and allow them to sell at a higher price that would leave them…
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