Portlands Hottest Microhoods

Dated: February 19 2014

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FORGET GRAY HAIRS. Over the past few years, real estate has given us wrinkles. Falling home prices, rising foreclosures rates, and painfully long market times all etched lines into our continuously furrowed brows. But finally, finally, we get something to give us a grin. Prices in Portland are up 6 percent over last year, home sales are up 20 percent, and time on the market is down to 64 days (two weeks less than in 2011), according to the Regional Multiple Listing Service. In a joint-produced 2013 real estate report, the Urban Land Institute and Pricewaterhouse Coopers put Portland in the country’s top 20 markets to watch. Of course, we remain well shy of Portland’s peak median price of $302,000 in 2007 (in 2012, the median was $249,900), but our low inventory could help improve things. 

Portland’s home inventory supply at the beginning of 2012 sat at seven or eight months. Today it’s hovering around three, meaning the market meter’s arrow has moved from the buyers’ favor to sellers’. That led to an “adjustment” for clients intially, says Keller Williams principal broker Nick Krautter. “We had to counsel them that what had been happening for five years really just wasn’t happening anymore,” he says. Read More Here...
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Mark Ross

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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