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Portland’s Real Estate Trends

by Garry Egan

Like anything else, real estate has its ups and downs, so it makes sense to take a look at some of the trends that occur within Portland’s real estate market specifically. Since the market has been on the rise for a little while, it is definitely worth your time to look at where it came from and look into where it will probably go before you make any risky investments. Luckily, there are many reports published detailing these trends and what you should be expecting after this rise levels off.

Just looking at some of the more recent reports you can see the beginnings of trends consisting of changes in the market value of houses, the average number of days that houses are on the market, and the number of houses being sold compared to the number of houses for sale. Over the last couple years there has been a drastic increase in the price of houses, and an increase in the number of houses being sold, but there are fewer houses being put up for sale. This has also affected the value of houses in the area. According to quarterly reports, most houses are only staying on the market for about two months, and oddly enough, the higher priced houses are staying on the market for much shorter periods of time.

There are tons of reports published each year by different mortgage and real estate companies, so it is simply a matter of finding the most accurate ones. Once you have found some reports that you think are legitimate you can make a much more informed decision on the types of properties you will be looking at, and the areas you will be looking in. Plus, staying informed about current trends will help you to make a less risky decision when you are ready to purchase because you can estimate where the value of your property will end up in the future.