Portland Realtors: Spring 2017 Housing Report

economy, Real Estate
Portland Real Estate: Spring 2017 The Portland Metro Association of Realtors has just released its housing market action report for the previous month (February, 2017) and the news is somewhere between lackluster and mixed. While accepted offers were notably higher than in January, the levels of newly pending sales are 15% behind where we were last year. On the other side of the equation, new listings coming into the housing market this year were 12.9% below the number of new listings in February, 2016. Fewer listings and fewer sales is the theme for winter and spring for Portland in 2017 thus far. Closing transactions also dropped by 9.6% month to month and 7.9% when compared to closings in the same month a year prior. It's important to note that last…
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Portland Realtors: Fall Update

economy
Portland Real Estate Report: Plateau... Or Just Platitudes? In summary, home values in Portland, Oregon are being described as "hovering" at the moment. Various articles and Portland Realtors commenting on the local housing market have used terms like "plateau", "flattened" and even the somewhat ominous word "cooling" to describe our current conditions. The graph below shows that median prices hit highs at/near $550,000- in the spring of 2016 but have tapered off to our current median price of $499,700-. Recession has become a zeitgeist and the subject of scary campfire stories ever since 2008. Nonetheless, economic contractions remain a recurring certainty and a predictable part of all economies. -Richard E Lockwood Real estate agents note that this settling in prices may be due to our city's tradition of the market…
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August, 2016 Market Update: Portland, Oregon

Portland Home Values
[caption id="attachment_7591" align="alignright" width="300"] Graph of price per square foot. [/caption] Home values in Portland, Oregon may have hit their seasonal high in August, 2016. Median list prices are hovering $519,000 with asking price per square foot plateaued at $223-. Days on market is also holding at around 59 days. The words "hovering" and "plateau" will likely be ubiquitous among conversations with Portland Realtors as we seek to explain the metro area's pattern of seasonal price fluctuations. In any event, prices and the local housing market can be described as hovering at a plateau currently and many believe this is indicative of normal, seasonal changes in housing market conditions. Some market observers believe that the very recent past is a predictor of the future and feel that the housing market…
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Summer Housing Report: Happy Valley, Clackamas, Damascus

Real Estate
Local Realtors Serving Happy Valley, Damascus & Clackamas *Click the expanding tabs below to explore your market details In sharp contrast to Portland's recent bout of cool, temperate weather, local home values throughout the Portland metro area are continuing their meteoric rise. Today we focus specifically on real estate in a few surrounding areas of East County. Home Values Soar Around Portland, OR Oregon's seasonal housing market fluctuations notwithstanding, other factors such as new transplants to the area as well as improvements in the local economy both likely play a role in Portland's robust home price increases. The significant dearth of local rental opportunities may also be fanning the flames of increased home prices in that exorbitant monthly rent or simply being unable to find a suitable rental at all…
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January, 2016: Portland Housing, Economic Update

economy
From the Article: ...will bad news from Wall Street and Asia rain on Portland's parade or will the distant rolls of thunder merely echo nay-sayers beating the drum of chimerical doom & gloom? Despite recent upsets and a dismal start to the trading year on Wall Street, home-buyers in Portland, Oregon remain extremely bullish on the local real estate market. International issues such as China's burgeoning debt crisis along with foreign trading markets being flooded with newly available petroleum energy have led to record stock-market volatility; with many sources noting that the new 2016 fiscal year is the worst on record for many stock exchanges worldwide. In contrast, factors such as local job growth and strong demand for Portland's unique "Northwest" lifestyle mean that homes throughout the metro area are…
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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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Oregon City, Milwaukie Housing Update 10-04/2014

Portland Home Values
Home values in Oregon City and Milwaukie seem to have plateaued in recent weeks with, buyer activity slowly tapering off as we move from the busy summer real estate season into the cooling off period typical of autumn. For these Portland suburbs, average days on market has been trending upwards dramatically while at the same time the inventory of available residential listings in Oregon City have been sharply declining, while available listings in Milwaukie have only been mildly declining. At first, it seems like reduced inventory would stimulate the market and the truth is it may be, but only to an extent. However, if the supply of available homes for sale is declining somewhat and demand is dropping more dramatically then the balance may begin to shift in favor of…
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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…
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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…
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Should I Buy A House This Year? Q & A with a Realtor

Buying Real Estate
As a professional Realtor in Portland, Oregon people ask me whether or not they should buy a house this year quite often. My answer is that there are many factors to consider and ultimately YOU are the one who has to live with the outcome, not your real estate agent, not your friends or relatives. Is it time to buy real estate? Nobody can make this decision for you. This article is written by an Oregon Real Estate Licensee IS NOT legal counsel and IS NOT tax or financial advice. Realtors cannot predict or promise future profits or losses and this article is solely the opinion of Richard Lockwood as of the date of publication (I reserve the right to change my mind and at some point in the future…
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