Portland Real Estate Market

20Oct 2017 by admin

Fall 2017: Portland Real Estate Market

[caption id="attachment_8314" align="alignleft" width="300"] Median List Price of Portland Homes For Sale[/caption] Summer is over and Fall is here with plenty of cold, rainy wind... and of course, the ubiquitous comparatively sluggish real estate market. I say "comparatively sluggish" because housing in our city is still selling quickly and inventory remains very low by the measures of conventional wisdom. Nonetheless, average days on market for residential homes for sale is increasing while market action is waning. Current median asking price for properties in Portland is $518,000 and the average list price is $635,476. Following the waning market action, prices have been settling down a bit from their all time high in the spring/summer but even still, ever since the Great Recession, Portland's real estate market is continually defined by (lack…

26Sep 2014 by admin

Metro Area Homes For Sale Report 09-26-2014

Portland Real Estate Market

Home prices in Portland have been relatively flat lately, and the market is generally showing signs of what may either be seasonal slowing or possibly home values settling. Surrounding areas like Gresham, Oregon are also seeing a decrease in home purchases punctuated by dramatic increases in days on market. For Beaverton, Oregon the story is much the same with days on market steeply increasing while market action seems to be in a slow slump. Close-in, desirable areas like Lake Oswego are seeing very mixed signals like dramatic increases in days on market, sharply declining inventory, and a decrease in buyer activity via the market action index. Below we'll examine the city of Portland along with select surrounding areas including Gresham, Beaverton and Lake Oswego in greater depth. Portland, OR Housing…

22Sep 2014 by admin

Portland Metro Area Real Estate Report 09-18-2014

Portland Real Estate Market

Portland Real Estate Update: Overview The residential real estate market trends have been generally somewhat negative with a few areas that seem to be more neutral, depending on the price and demographic. For Portland and the surrounding areas within this study it is noted that days on market are increasing (the rate of increase varies from slight to strong increase in days on market). While nobody can predict future profits and losses in Portland real estate, it's important to note that factors such as days on market can and do act like a barometer or weather-vane and can often be used to help get a sense of where the market may be headed. Similarly, the market action index which measures buying activity from well-qualified buyers has also been negative in…

09Sep 2014 by admin

Portland Metro Housing Update 09-09-2014

Portland Real Estate Market

Real Estate Market Report For Portland, Oregon & Surrounding Communities With Portland, OR and many of its surrounding suburbs seeing average time it takes residential homes for sale to sell increasing the market appears to be slowing down. This is not surprising given the fact that we're reaching the end of the busy summer buying rush and moving into the usually slower paced Portland real estate market typical of the fall and winter months. Uncertainty remains as to whether what we're witnessing is nothing more than the normal, seasonal price fluctuation seen amongst homes for sale in a healthy economy or if these are early signs of a general softening following the very robust price increases seen post-recession. If you need to sell your home or if you have questions…

29Jul 2014 by admin

Distressed Sales Information 1st & 2nd Quarters

Portland Real Estate Market

Distressed property sales in the Portland metro area dipped in the second quarter of 2014 as the spring buying season heated up. Short sales dipped from being 6.1% of total sales to being 4.1% of total sales for the first and second quarters of 2014 respectively. Bank owned foreclosures (REO) properties experienced a less abrupt drop from 4.9% down to 4.7% when the first quarter of 2014 is compared to the second quarter of this year. Inventory of available homes offered on the market throughout Portland remains quite low and this low inventory may be fueling the drop in short sales as rising prices move more sales into the non-distressed category. Also, national politics may be playing a role as congress has failed to reach an agreement extending the Mortgage…

02Jul 2014 by admin

Wall Street Speculation Driving Up Home Prices

Portland Real Estate Market

Investors Buying Short Sales & Foreclosures In Bulk, Profiting Big This article is opinion based on available data from a variety of news and financial sources. This article is not legal, tax or financial advice. The author is a real estate broker licensed in the State of Oregon, and an short sale specialist in Portland. [caption id="attachment_6950" align="alignleft" width="300"] Wall Street Back To Gambling On Real Estate[/caption] While recently reduced numbers of short sale transactions and foreclosures have pushed real estate investment money back into flipping and renovating, in the height of the recession many major financial interests were buying short sale and foreclosure homes in bulk and trading them as a commodity. Now, these investment companies appear to be slowing their rate of purchase as the supply of distressed…

27Feb 2014 by admin

February 2014 Market Update

Portland Real Estate Market

Happy New Year to the Portland residential real estate market. And, now that February is coming to a close we're able to process the numbers for January of 2014 and the numbers look encouraging. Pending sales in January were up a whopping 36% compared to December. Similarly, average price for residential listings in Portland improved in January 2014 ($317,200) when compared to January 2013 ($287,700). Portland Real Estate: Sold Home Prices Improve Dramatically Year on Year average sold prices have improved 12.6% across the residential market whereas the median sold price increased by 13.6%. time on market has also decreased somewhat, which may indicate more buyers but may also be influenced by fewer short sales which can increase closing times dramatically. One of the most notable factors is the extremely…

30Jan 2014 by admin

Beaverton Housing Report

Portland Real Estate Market

This weeks existing home sale report brings good news tempered somewhat by mixed signals. Let’s look at the good news first. It is a sellers market believed to be inspired by low inventory. Limited supply has given Beaverton home sellers advantage over buyers simply because there isn’t much available for buyers to pick through. That does not give sellers unbridled power to jack prices sky high as bank appraisers and valuation guidelines are tempering this rapid run-up of perceived value. Prices can only naturally appreciate so fast and it appears that another real estate bubble may be in its nascent stages. Would-be investors are to praise or blame for the current run-up of prices and run-down of inventory. When selling a Beaverton home the investor driven price structure can be…

28Dec 2012 by admin

Home Sales Rise as Economy Stalls

economy, Portland Real Estate Market

Lackluster holiday spending and low US consumer confidence did not detour home buyers the last quarter of 2012. Home sales are up for the last couple months as buyers take advantage of low interest rates and depressed property values. Local Realtors had a Merry Christmas cashing commission checks in November and December as Portland RMLS reports a 5% month over month gain in sold home volume. MERS and its legal woes have also contributed to reduced inventory; with the embattled company's foreclosure practices now being called in to question in landmark court cases across the nation. MERS Foreclosures Challenged In Landmark Cases The latest burst of closed real estate transactions in combination with the low number of new listings has caused extremely low levels of available inventory. At best the…

17Jan 2012 by admin

Current Portland Housing Trends

Portland Real Estate Market

Recently released pending home sales figures suggest a bright future for not only the Portland housing market, but also the national level. The national pending transactions index released by the National Association of Realtors has risen for a second month in a row. The index has also risen past 100. This is important because the only other time the index has broken 100 since the housing boom collapsed is when the home owner tax credit was in effect. According to Portland realtors the fact that the index has returned to it's current level a year since the home owner tax credit has been in effect implies that the housing market is recovering seemingly on its own without the addition of any form of stimulus. Real estate trends analysts are hopeful…