|Filed Under:||Real Estate / Local Market|
|Posts on Regator:||331|
|Posts / Week:||0.9|
|Archived Since:||March 4, 2008|
The 2011 Portland real estate year starts with a dive off a short cliff. Just over a thousand homes closed escrow — a fairly typical result for the last few years. But the average sale price ($248,900) plummeted to its lowest levels since May 2004 and median prices ($215,000) were comparable to those in February [...]
NPR shared an interesting story outlining the dichotomy of why people are continuing to migrate to Portland despite a lack of employment opportunities and racial diversity. In short, it noted the typical stereotypical responses — outdoor...Show More Summary
On a somewhat surprising end to 2010, December home sales in Portland perked up, registering the highest number of closed sales since the tax-credit-fueled binge in May/June. For the year, unit home sales were virtually unchanged versus 2009, although the total dollar volume of sales dipped 3.7%. Average home prices slipped 2.7% when compared to 2009; [...]
The winter slog has hit Portland, and I’m not talking just about the weather. As anticipated, November sales volume for the metro real estate market was light, but steady…sort of like drizzle. The 1,279 closed sales were nearly identical to October’s total. The time-on-market figure climbed to 140 days on average for closed transactions. Available inventory [...]
Fred Armisen pokes fun at Portland and its hipster scene in his new show, Portlandia. (Media link here if video doesn’t appear below.) You’ve got to admit, some of it’s true More clips. © %FIRST Ares - visit the author for more great content. [...]
In our slow-moving economy, recent home buyers have been particularly price-conscious, guarding against overpaying in what continues to be an unsettled housing market. The past couple years haven’t made the value/price equation any easier...Show More Summary
Portland’s real estate market begins its off-season with slumping sales and drifting prices. October results show just under 1,300 homes went to new owners throughout the Portland metro area. The 10-year average for October home sales is approximately 2,250 units, so closed sales are well below ‘normal’. Pending sales (homes under contract) sit at 1,632 which [...]
Over the years, I’ve posted links to many reviews of the Portland lifestyle…most penned by a fawning NY Times writer wandering about town for a long weekend or so. This gem, Twice Charmed by Portland Oregon, however, was written by local author Katherine Dunn (Geek Love) for the Smithsonian Magazine. Dunn moved here as a teen [...]
With September and October typically being the last months of the year with any serious sales volume, Portland’s real estate market may be heading for an early hibernation. September 2010 saw just 1,399 homes change hands, off 36% of the typical September average (measured between 2000 and 2010). Nearly 1,600 homes are on the books as [...]
Jon Stewart has a knack for putting a fine point on it. Actually, a serrated edge: The Daily Show With Jon Stewart Mon – Thurs 11p / 10c Foreclosure Crisis www.thedailyshow.com Daily Show Full Episodes Political Humor Rally to Restore Sanity And there’s more: The Daily [...]
Like the weather pattern in Portland this summer and early fall, the Portland real estate market in August could be described as cool and mild. Pending and closed sales in August were well below normal averages. Compared to a year ago, closed sales fell 25%. The pending sale total of 1,688 was on par with July, [...]
NPR reports on the rising trend of all-cash housing transactions, including a resurgence of house flippers.
As foreshadowed by May and June’s low pending sales, the July closed sale total tells the real story of the non-tax-credit-stimulated housing market in Portland. From a high of 2,050 closed transactions in May, the market has cooled to around 1,400 closings during what would normally be the peak home buying and selling season (the [...]
Reader Darin points us to a Yahoo/Bloomberg article touting Washington and Oregon as the top two housing markets to rebound by early 2014
For a second month in a row, the Portland housing market shows that it is clearly returning to its pre-tax incentive pace. This means low sales volumes when compared to historical averages in what would normally be the peak home-buying and selling season. It’s as if everyone moved their calendar up by a couple months. March [...]
The NY Times reports that homeowners with mortgages in excess of $1 million are defaulting at a 1 out of 7 pace.
The homebuyer tax credit binge is over and all that’s left is the hangover. As expected, closed sales in May were very strong, at over 2,000 transactions closed, but pending sales in the first post-tax credit month were just 1/2 of April’s performance. Relatively low listing activity is keeping inventory down in the 7 months [...]
The Senate on Wednesday approved a tax credit extension for homes in escrow through September 30.
Last summer, the HGTV show “My First Place” came to Portland and selected a couple of my clients to follow and film as they purchased their first home together. As their agent, I was sorta obligated to go along with the deal. I mean, who would turn down free publicity, right? Well, the episode finally airs this [...]
Portland’s strong, springtime home-buying activity continued through April, with nearly 2,000 homes selling and another ~3,000 entering into contract. The sale pending number is the highest since May 2007 and is comparable to figure we saw during the bubble-buying period between 2004 and 2007. Sale prices bounced up a tick from last month, but are still [...]