Posts Tagged ‘portland real estate market’

New Listings & Pending Sales In Portland Housing Market Continue to Drop Off

Monday, February 17th, 2014

Happy Presidents Day everyone!

Taking a look at the daily numbers for today we’re still seeing a measurable, albeit expected drop off in pending sales and new listings. Pending sales which were averaging around 55 a day are now barely averaging around 40 per day:

 

 

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McDonald Group Real Estate Trends: It’s Still a Buyer’s Market in Portland

Wednesday, September 15th, 2010

The latest market report for the Portland Real Estate market shows a steady level of continued price reductions on homes for sale around the Portland Metro area. Back in August we talked here on the McDonald Group Real Estate blog about the Portland Business Journal article stating that thirty-two percent of Portland homes for sale in early summer experienced at least one price reduction, ranking  Portland No. 16 on Trulia’s list of price reductions in America’s 50 largest cities. Those numbers are sticking around.

A buyers market is one in which there are more homes available that there are people ready and willing to purchase them. With so many options to choose from in the Portland Real Estate market, buyers have the opportunity to pick up ridiculous deals on homes for sale in Portland that would otherwise be snapped up for much more. The buyers market means more options, lower prices, and higher competition amongst sellers, which makes homeowners and Portland real estate agents more willing to compromise and negotiate price reductions on all types of homes.

Signs of a buyers market in Portland are everywhere – this is the time to upsize or move into a more desirable area, as there are literally hundreds of gorgeous homes at rock bottom prices, including luxury foreclosures, high-end short-sales, bank-owned homes, and affordable listing prices on homes priced well below their previous market value. A balanced buyer/seller market has around 5 or 6 months of inventory. The Portland Real Estate market is currently just below 11 months. If you’re trying to sell a home in Portland, you’re going to need to price competitively and think about upgrades to make your house more attractive to the increasingly savvy buyers. The average sale price in the Portland Real Estate market is around $297,000 and homes for sale in Portland typically stay on the market for around 121 days. There’s really no good way to tell how long this buyers market will last, so be sure to take advantage of these record low prices, record low interest rates, and the amazing supply of affordable dream homes out there on the Portland Real Estate Market.

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Portland Realtor Guide: NEW Buckman Neighborhood Profile at Your Road Map to Home

Friday, August 20th, 2010

Check out the new neighborhood profile detailing the neighborhood of Buckman in Southeast Portland, filled with quirky culture, classic Old Portland homes, and some of the best dining and shopping in town. The Buckman neighborhood is progressive and proud, and provides easy commuting access downtown via the Burnside, Hawthorne, and Morrison bridges. Buckman includes parts of two of the most popular retail districts in town, Hawthorn and Belmont Streets, complete with vintage stores, great brunch spots, and open parks.  Combining the best of urban accessibility and comfortable, small-neighborhood atmosphere, Buckman is quintessential Portland.

If you’re looking for homes, condos, or other real estate in Buckman or other Portland neighborhoods, check out this information page filled with the best restaurants nearby Buckman, top hikes and green spaces, and neighborhood resources. Relocating to a new area can be hard, but it’s a lot easier when you’ve got the best real estate agents in Portland on your side.

Contact the McDonald Group realtors to find out about homes for sale in Buckman, or Click here for more information!

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Portland Real Estate Trends: Homeowners Slashing Prices

Thursday, August 12th, 2010

In a report published in the Portland Business Journal yesterday, we learned that thirty-two percent of Portland homes for sale, listed since the beginning of this month, experienced at least one price reduction. That ranked Portland No. 16 on the website Trulia’s list of price reductions in America’s 50 largest cities.

The average reduction for Portland homes was 9 percent, just under the national average of a 10 percent reduction on 25 percent of newly listed homes. With historically low interest rates, cutting-edge sustainability renovation rebates and low remodeling costs, and a high supply of beautiful homes for sale with great Walk Scores, this is a perfect time to grab a great deal.

As Scott McDonald of the McDonald Group said back in June, “We all know mortgage rates are low right now, but Freddie Mac really put a light on it by saying they are currently lower than they have been since they began tracking this data in 1971 and MSNBC.com states the last time they were this low was in the 1950′s. Yup, the economy stinks right now, but if you’re in a position that’s somewhat insulated from economic trends and are thinking of buying a home, now really is the time.”

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July 2009 RMLS Market Action Report & Commentary

Monday, August 17th, 2009

The latest RMLS Market Action Report is out and posted on our site along with our commentaryrmlsmarketaction / summation of the numbers and comments on what we’re seeing in the market and how that is represented in the numbers. Additionally we blogged a while back about which homes are selling and why, a blurb about that in this month’s commentary as well as a link to an eye opening PDF; head over and take a look!

~Scott McDonald – You’re Portland Oregon Real Estate Agent

Some interesting stats showing what homes are selling in Portland

Friday, July 24th, 2009

So we’ve been saying it for a while now, the low end of the market is moving, everything else is still hurting. Well, Coldwell Banker sent agents a flyer for a quick reference showing exactly what we’ve been talking about. The market under $300,000 is up 9% from last year, the markets over that price range are down and the down market doing the best is down -26% from last year. Interesting cheat sheet of stats.

In case you missed the word flyer linked above you can get the report here too :-)

Scott McDonald – Your Oregon Realtor

June 2009 RMLS Market Action Report & Commentary

Friday, July 24th, 2009

Boy have we been busy…The last RMLS market action report came out about a week ago andrmlsmarketaction I’m just now able to sit down and get my commentary and this blog entry in and the latest June 2009 RMLS Market Action Report shows why; the market is moving folks! We’re seeing lots of activity, lots of buyers, FHA in just about every transaction these days, seller paid closing costs in most as well and of course that first time home buyer tax credit. Things are a rollin’ however we are concerned that come the end of November we could see things come to a screeching halt. Check out the RMLS market action report and our commentary on it to find out why.

~Scott McDonald, Your Portland Oregon Real Estate Agent

May 2009 RMLS Market Action Report & Commentary

Monday, June 22nd, 2009

The May 2009 RMLS Market Action Report was released a few days ago and being the busy season with a lot of transactions in rmlsmarketactionescrow I just didn’t have the time to do my write up on it until today, but it’s there now! Indicators are basically what we’ve come to expect in this market, significant depreciation, -13% overall since this time last year, and high inventory though we did manage to shave 4/5′s of a month off that from 11 down to 10.2 months. Read our write up on the Portland Real Estate Market and from that page you can also download the full report.

~Scott McDonald and www.YourRoadMapToHome.com your Oregon Real Estate Resource and source for homes for sale!

What we’re seeing: Market activity picking up, homes priced right are moving

Friday, May 29th, 2009

We’re seeing lots of new activity in the market and RMLS’ posting of Oregon and Washington lockbox activity numbers shows the increased activity:

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Heading into summer we normally see an uptick in activity, but we didn’t see such a significant uptick as we are seeing now last summer.

Competition is gaining in the market and while it’s still primarily bank owned homes and short sales priced to attract multiple offers getting the buyers, from what we’re seeing it doesn’t appear to be limited to the rock-bottom-jaw-dropping priced homes any longer; we’re seeing homes priced a bit closer to market asking prices getting multiple offers now too. To give you an idea of what I mean, when asking prices are around say $130 per square foot in a given area, listings that are priced around or under $100/psf have been moving fast for months and are usually bank owned or an occassional short sale. Now however, we’re seeing $115-$120/PSF getting multiple offers as well; it’s not a massive increase but we’re seeing it regularly now. Buyers a year ago weren’t across the board savvy in terms of going after short sales and bank owned homes, but they are now. The demand for “bank owned” and “short sales” (in quotes as they are obivously buzz words at this point) seems to be generating a lot more competition out there, at least from what we’re seeing.

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April 2009 RMLS Market Action Report & Commentary

Friday, May 15th, 2009

RMLS released the April 2009 Market Action Report yesterday, a day early – strange. Anywho, it’s out and our commentary rmlsmarketactionon the numbers is available in the usual spot on our website under the RMLS Portland Market Action Report link. The numbers as they have been recently are mixed, some good, some not so good. Also, RMLS changed the report files once again, instead of having individual counties plus an all counties version as they recently changed to, they apparently changed it again and decided to discontinue the all counties report so only by county/area reports are available now. As such we will have the Portland & Vancouver market reports available on our site. Give it a read and download the report here.

~Scott McDonald, your Portland Real Estate Agent

February RMLS Market Action Report and Commentary

Monday, March 23rd, 2009

The RMLS Market Action Report is out for February 2009 and my commentary on the numbers is up on our site now. rmlsmarketactionIf you’re just interested in a quick “whats up in the market” take a look at my commentary as it’s just the relevant Portland market information, if you have some time to kill and want to read all 52 pages of the multi-county report feel free to do so, you can download it from the same place and have at it.

~Scott McDonald – McDonald Group Realtors : Everything. Portland. Real Estate.

It’s that time of month again! My write up on the RMLS Market Action Report for January 2009

Monday, February 23rd, 2009

The RMLS Market Action Report for January 2009 and year end county numbers is out, well actually a few days ago…ok, a week…rmlsmarketactionI was late what can I say? You know what I can say? Business is POPPIN’ and today was the first chance I’ve had to breathe in the last week to get to doing my monthly write up on the report.

The numbers are of course grim for the most part, but we’re all use to that by now but there is a glimmer of light in the report, like a single star in the sky on an overcast night…but it’s a light! Take a peak at my write up summation of the January 2009 RMLS Market Action Report on the Portland Real Estate market. .

November 2008 RMLS Market Action Report

Monday, December 15th, 2008

RMLS has released the November issue of the Market Action report. The news of course and as expected is not good, we’re continuing to decline with a current inventory of 15 months and closed sales of only 1,041 which is the lowest we’ve seen since 1993! Listings are down as well which is good however the closed and pending sales are down by a higher percentage and we need to see that trend reverse for a Portland real estate market recovery to happen. Take a look at my comments on the market action report here and you can also download the full report to review on your own from that same page.

October 2008 RMLS Market Action – My Summation

Friday, November 14th, 2008

Right around the middle of each month RMLS sends out their “Market Action Report” for the previous month; Octobers market action report just came out today. Each month I do a write up on it, sort of summarizing it and post it on our website. The report and my summation of the report are both now posted.

Overall the numbers are as expected; we are after all in a down market. Some of the numbers however are showing slight improvements like for instance the Milwaukie / Clackamas areas moved from a depreciation rate of -6.7% to -5.4%.

Read my take on the market action report where you can also download the report itself. And if you want to see a historical perspective on the market, the archives of my summaries and the reports themselves are at the bottom of the page.