Redfin Portland Loves Its Luxe Homes

Dated: May 28 2014

Views: 1590

While local home sales may be stalled — largely because of a supply shortage —one end of the market is going gangbusters.

Redfin, the Seattle-based online real estate market, reports sales of Portland’s luxury properties are running 52.6 percent of last year while the rest of the market is down 3.5 percent. Redfin calculates that the minimum price to qualify for the top 1 percent of homes in Portland is $975,000 with an annual household income of $167,000. Forest Park, Forest Highlands and Southwest Hills accounted for the majority of luxury homes sold in Portland.

30.9 percent of luxury home buyers in Portland pay cash for their properties.
Nationally, sales of the top 1 percent of homes are running 21.1 percent ahead of 2013 while the balance of home sales are down 7.6 percent. Read More Here...
cb
Blog author image

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....

1 comments in this topic

  • Posted by Beth Harlow
    06/01/2014
    Thanks Mark for being on the leading edge of realestate. The new website is excellent which is what we can always count on from you. Looking forward to finding a new place with you. Frank & Beth Harlow

Latest Blog Posts

The Biggest Myths About Moving To The Suburbs

For generations, people have been drawn to big-city life by the irresistible lure of career opportunities, cultural riches, and the sheer excitement of rubbing shoulders with hundreds of thousands

Read More

Home Price Index Sees Greatest Gain In Over 2 Years

The S&P CoreLogic Case-Shiller index of home prices in 19* U.S. cities rose 5.7% in August from a year ago, the greatest year-over-year gain since 2018, driven unsurprisingly by tightened supply

Read More

6 Home Upgrades Buyers Want In The COVID19 Era

If you imagined 2020 was the year you would finally list your house for sale, you may have hit the brakes on those plans when the coronavirus pandemic arrived.But now, we’re more than six months

Read More

Builder Confidence Breaks Previous 35 Year Record High

The National Association of Home Builders and Wells Fargo Housing Market Index rose two points to 85 in October – the highest score the series has ever recorded since its inception 35 years ago

Read More