Category Archives: Portland

Portland Home Prices Jump by Double Digits

September 18, 2013
Market: Portland, OR

Average home prices in Portland rose 14% year-over-year to $321,900 in August, sustaining the city’s streak of double-digit annual price increases, according to the Regional Multiple Listing Service. Prices remain 17% behind 2007 levels, when the housing market was at its peak.

New listings and pending sales also saw increases of 10.3% and 9.5% in August, respectively. Experts estimate it would take 3.1 months to clear the market of its unsold inventory, well below the 6-month level considered characteristic of a healthy market.

Read more at the Portland Business Journal.

Single-Family Home Prices Increase in Portland, Across the Country

July 30, 2013
Market: Portland, U.S.

Portland’s housing market is mirroring the rise in single-family home prices across the country. The S&P/Case-Shiller Home Price Index reports Portland-area home prices averaged an increase of 2.2% to $316,900 from April to May. While they remain 18% below their pre-recession peak, May’s prices represent a 12.5% jump year-over-year.

Throughout the U.S., home prices continued to improve, with Denver and Dallas posting all-time highs, and Atlanta, Chicago, San Diego, San Francisco, and Seattle with home prices rising 3% or more in May. The West had the biggest increases, with home prices jumping annually by 24.5% in San Francisco, 23.3% in Las Vegas, and 20.6% in Phoenix.

Read the full article at Portland Business Journal.

Portland Multifamily Vacancy Dips Even Further

July 23, 2013
Market: Portland, OR

According to NAI Norris, Beggs, & Simpson, the multifamily vacancy rate in Portland fell to 2.04% in the Q2 2013, driving average rent for one-bedroom-units up $29 to $826 or $1.15 per square foot. The high occupancy should ease slightly as the 5,000 units currently under construction are completed. In addition, 10,000 units are proposed to begin construction in the next year, concentrated primarily in the downtown area.

Read the full article at the Portland Business Journal.