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Hey Portland! Our Real Estate Market Defies National Trends

We're different and we know it. You won’t find us running with the pack or playing by the rules.

Lawless pdx

They may call us ‘scenesters’, but that’s just not who we are. Flying below the radar smacks of our autonomous Pdx spirit, so is it any wonder that the current state of our local real estate market is still such a secret? While much of the nation is experiencing a slow down in the housing market, our town is still thriving! We’re a sparkling example of an independent community with priorities that define us as caring, supportive and locally involved. And it’s paying huge dividends….

~ We’ve seen an 8.9% gain in the median sale price for the second quarter of 2007 as compared to the same period in 2006, far outdistancing the national average of just 1.8%. Who else can say that?

~ Industry experts say that steady job growth, a inflow of newcomers, and fewer sub-prime mortgages made to high-risk buyers have helped bolster our home values and have led to a delinquency rate of only half the national average.

~ Growth constraints in our Oregon land use planning system is one of the reasons we're faring so much better. Our thoughtful perspective on development has impeded the unchecked over-building so prevalent in other housing markets. We protect our exquisite surroundings.

~ We have a nearly balanced buyer and seller market as defined by the national industry standards (NAR) with a 5+ month supply of inventory. We have something for everyone.
Downtown Pdx

This really is the perfect time to buy…

If you’re even considering making a home purchase, you have an abundance of properties to choose from with interest rates that are very affordable. If you have good credit, cash reserves and a plan to hold on to your property for a few years - and why not? You love it here, right?
- then you should be taking advantage right now while the market is still hot.
Portland real estate is an excellent investment!

Sellers... You still have an advantage…

If you've built equity in your home and if you price your property realistically, you can take advantage of our recent 12-day decrease in average days on market. The imports love our low-key, open-minded attitude, and they’re pouncing on our properties. This is an excellent time to sell!

Resources: PSU Center for Real Estate, RMLS and Oregonian

Posted by Allentown PA Real Estate Broker * Jennifer Monroe * on 11/05/2007 10:40 PM

Comments (58)

beautiful portland, home buyers, home sellers, investments, portland oregon real estate market, jennifer bukaty

This post has been included in Oregon Information Multnomah County, OR Information Portland, OR Information

58 Comments on Hey Portland! Our Real Estate Market Defies National Trends

NOV

2007

Jennifer- I like the way you explained the thriving market in Portland. My brother and his family all live in Portland. I have been there many times when I lived in Seattle. It is beautiful there. Katerina

NOV

2007

This is why our investors love this area so much!

Jennifer - This is a nice and informative post for Localism. Very well done - I learned from this one.

Jennifer... Sounds like things are progressing nicely in Portland.... Here's to continued success!

Hi Jennifer,
Sounds like Portland is the happening place in the country right now. What a great market for you and your clients. Go sell some real estate girl!

Hi Jennifer, that five month supply just popped out at me. Good selling.

Jen, concise yet thorough explanation of the market for Portland buyers and sellers. Nice job!

Jennifer,

Great Localism post. I bet there are plenty of other areas that are thriving as well. Those are the stories we all need to hear and read, instead of this gloom and doom crapola we're given every day. Now, go sell something!!

Jen... I want to be an import!!! It's great to actually see a market that is not only stable, but improving...FANTASTIC...

Jennifer, I really enjoyed how your presented the market statistics for Portland in this post. I've always heard that Oregon is a beautiful state and it's been one of the few at the top of my list to visit some day. The picture of the city is very striking....

((-:

Nicely done amiga! Real Estate, in my view, is a regional market and what happens Nationally may not affect certain areas nearly as much, it's good to know that yours is one of them. Need any Mortgage Guys out there?

Oh, & by the way.....MWA!

Katerina... I used to live in Seattle and loved it! But I need to get out of the city quickly and Oregon let's me do that at the drop of a hat. Both markets are still going strong, so not a bad place to be. Thanks so much for your comment.

Todd... And why WE love it so much too, eh?? ;-)

Thanks Loveseat! It's long overdue....

Dan... Portland is the place to be right now, that's for sure. It will be interesting to see how long we can ride this wave. Thanks for your support, as always!

I'm doing it Cynthia! I love this job!!

Sandra... Move here! I'd love to help you buy a terrific house in my neighborhood! We could really be homies then ;-) Thanks for supporting me!!

Thanks Keith! I sure wish buyers and sellers understood better what that means for them. This couldn't be a better environment for everyone involved. It shakes out to be a pretty fair playing field. Thanks for supporting my Localism effort!

Thanks so much Brian! It's tough to make this kind of information meaningful. This is my first attempt here. I appreciate your input.

Andrew... I couldn't agree with you more! Nothing is ever perfect for everyone, and the big ruse in my mind is that buyers ever thought they were in a good market over the previous few years. They were getting hammered and are paying a bit of a price now. Funny how the media was able to take them for a ride. Or not funny. Thanks for your perspective!

Lisa My Lisa.... You already know you can be my little import any day of the week! Just get on over to that Delta counter! Mwa!!

Jo-Anne... We've discussed how much time I spend out your way,... maybe it's time we talk about you visiting here! It is absolutely beautiful and if anyone could appreciate it, it would definitely be YOU! Portland is rather striking, in both conventional and unconventional ways. Thank you for your support!

Jason... You know I do! Double MWA right back! (and then some...)

Jennifer - The list of places i need to visit keeps growing. BTW, how was the party at The Safari?

I have to tell you Tom, my girlfriend and I were just there Saturday night and I thought about how much I missed you all!! It would have been some party alright!!

Sorry to hear you had to come back from your getaway so soon. Hope Debbie is feeling much better :-)

Okay, what is MWA??? I love your enthusiasm for and love of Portland...I think I would love it there too! I just started "The Golden Notebook". I can tell I am going to love Doris Lessing!

Okay, my graphic is "farkleberry":)

Diane! ... Those stupid berries!!! I think AR is secretly making fun of us :))

I LOVE Doris and can't wait to hear what you think of her. Keep me posted... and a MWA is a big, wet, sloppy kiss. At least, thats the way I give them :))

MWA!!

Jennifer, this time I have "yellowberry"! Anyway, you are now my official interpreter for text messaging type language. I know LOL, BTW, etc. but there are times I don't have a clue. BTW, "The Golden Notebook" is over 600 pages so it may be a while before I can give you a full report. Have fun!

At least you do it with style and a little razz! :)

Sandra, my darling....I'd be laughing if I wasn't already laughing!!! Don't tell me you're CONFUSED??? LOL!

Go play your turn already......

Awww Keith.... that's nice to pretend!!! But what are friends for after all????

I know Diane... I'm giving you 36 hours!!! Doris is one of those FAST women!!!!

Congrats on your localism feature! Katerina

NOV

2007

I had no idea Katerina! Thank you for letting me know :) I'm rather surprised....

Hi Jennifer,

It sound like your market is much like ours. The house I just listed has been on the market for 11 days now with a lot of activity. Tomorrow we'll be looking at 3 offers. If any one of these people had written an offer last week they could have had it with no competition. "Those who hesitate..."

Susan... We should count our lucky stars! I hope your sellers appreciate their good fortune as well! I know you'll council them wisely. Keep me posted as to what they decide to accept. Real estate is still fun here in the beautiful Northwest!!

Congratulations on your feature, Cupcake... You deserve it! MWA!

Thank you my beloved Lisa! Sure surprised me!!

MWA!!!! (are you feeling loved yet??)

Jen... keep it comin'...more is good! ;o)

(you shouldn't be so surprised!)

Only by you little girl....

NOV

2007

Jennifer ~ Must be the blessing of the Northwest. In Spokane we are doing very well too. Everywhere I go I have to tell people to look at the local market not what the national media is saying.

Your post is very well done!

I'm rather agree with you about that Joddie... It IS the blessing of the Northwest and I for one, am not about to question it! Spokane is a beautiful place and I'm aware of the growth going on up there. Hope it's keeping you busy! Pretty town!!

I really appreciate your nice compliment too :-))

NOV

2007

Hey Jennifer - I'm trying to place where I've seen that graffiti ... SE, I'm sure... I sense railroad nearby but I can't put my finger on it -

speaking of great deals ... any more info on that condo?

Still thinking... I keep going back to SE 12th or 11th or Felony Flats - there is a building with cigarette shack in it on 12th near Washington - There is a 'Price is Right' store on 12th and Division but I also see it on Foster - WHERE IS THIS PLACE, JENNIFER??? :-)

I'm loving this Sara, and if I didn't love YOU I'd let you wonder a little longer ;-)

So it's on SE Foster and 51st on the side of the subway building and I caught it on my way home from work the other night and decided it was perfect for a post about our market. But I'm not saying it isn't sprayed someplace else. Could be our new motto!!!

Oh, and watch that snide Felony Flats stuff... I'm sitting on the border ya know!!

Well... I was right, though 0 Whew! Thanks for finally letting me know :-)

Dave used to live two houses from that Subway on 52nd between Foster and Powell - He'd always have to pick up needles out of the yard before he mowed.

Don't get me wrong, I think it's a great area!

NOV

2007

I'm glad to hear that you have a balanced market. We now have a 3 year supply of homes on the market.

By the way, thanks for commenting on Why I Unsubscribed From Your Blog

Hey Dan... Nice of you to drop by... I loved that post and will keep reading you...

JUN

2008

Well I finally signed up for an account, so my name should actually show up when I comment from now on. Sorry to stalk your blog, it's just great reading.

Invisible Commenter... Stalking my blog? Whatever for? If you signed up (past tense), then why aren't you using it now??

JUN

2008

Beats me. I entered a profile and all that, but I apparently need to log in or something for my comments to register as my own? Would a liberal gypsy woman be willing to give a semi-newbie some guidance?

Liberal Gypsy Woman? Actually, she is a Conservative Sinless Man. I'm your huckleberry Invisible Commenter:-)

Sardi... What?? You're not mine??

I will have to check out your blog now, Jason Sardi, but I doubt that you are my huckleberry (whatever that means). I'm thinking I like it here with the skirt! LOL!

JUN

2008

ABS - You're into Scottish Guys:-) Huckleberry just means having one's back. It's in the movie Tombstone.

Thanks for taking the OTHER side Sardi :(

Drama Queen:-)

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