Existing home sales came in at a whopping 6,850,000, beating estimates with the highest print since 2006. Days on market fell from 36 days to 21 days on a year-over-year basis. Cash buyers remain at
Portland Area Apartment Sales Are Off And Running In 2016
Dated: March 29 2016
While last year marked a record for multifamily sales in the Portland metro region, 2016 has so far not eased off one bit.
The same month last year saw more transactions — 29 — but a lower total sale amount of $188.2 million, a difference of about 6 percent.
What powered February 2016's solid performance were higher averages for a range of metrics, from overall price to price per unit and price per square foot. According to Morris, the average price in February of this year was close to $9.1 million; last year it was at $6.5 million.
Likewise, average price per unit this past February was $177,364, while last year it was down at $120,737, a difference of 47 percent.
The first two months of both 2015 and 2016 recorded total sales close to $354 million. The total number of sales in the first two months of 2015 hit 53 while this year's total for the first two months came in at 47.
For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 25+ years in the industry, Mark has gained experience in....
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