Introduction and Market Trends | 2014 Portland Real Estate Market Report

by | Feb 17, 2014 | How to Guides, Market Reports, Video

http://www.youtube.com/watch?v=Wp_wrZJz1yY&rel=0

2014 Portland Real Estate Report

Welcome to the 2014 Portland Oregon real estate report! My goal is to give you an inside view on what happened in the Portland real estate market in 2013 and my projections on where we are headed in 2014. I will start by sharing market trends and current opportunities. You will have access to home inventory and sales volume numbers and you can get updated reports each month on sellpdx.com.  I will cover the unique benefits of owning real estate including positive leverage. You will learn about the team of professionals that make up a successful real estate team and the roles they serve. We will discuss distressed properties which are becoming rarer but still present an opportunity for investment. Finally I will share a case study including an actual APOD (Annual Property Operating Data) of a triplex I purchased and remodeled in Portland.

This report will give you a great working knowledge of the Portland market and a starting point for your real estate investing journey. You can access fantastic tools, guides, and videos at sellpdx.com/resources.

My hope is that you learn from this report and get started investing in real estate. Feel free to share this report with friends, neighbors, family, and co-workers. If you find this report valuable share the link on your social media pages so others can find it and get started on their journey as well.

Market Trends in Portland

Residential: The top story of 2013 was the long awaited recovery hitting full stride. Interest rates moved up to the mid 4% range after hitting historic lows in 2012. The Portland metro area home prices are up 12.7% year over year according to the Case/Shiller index – this includes Clark County in WA. According to RMLS the Metro area is up 13% which shows the bounce in the market.

Apartment vacancy is at 2%. The low vacancy and rising rents have created an apartment
boom with 16,000 new units to be built in the next two years. This should level out rents and move vacancy up a few points but after years of almost no building there is still high demand.

Commercial: Cap rates have actually gone down on Class A properties but they are being
bought primarily by REITs and other institutional investors. Smaller local properties under the 5 million dollar mark are offering much higher returns to attract local buyers. Apartment cap rates have also dropped and rising rents are increasing apartment prices as well.

Portland Market Summary

2012

2013

Change

New listings

32,300

35,900

Up 10%

Closed sales

23,438

26,782

Up 12.5%

Inventory (in months)

4.7

3.4

Down 28%

Average sale $

$275,000

$311,000

Up 13%

Median sale $

$235,000

$265,000

Up 12.8%

Average days on market

112

83

Down 26%

 

If you are planning on buying, selling, or investing give me a call or email anytime. My team and I can personally help you in the Portland area and also help you find the right agent in your city. (503) 901-8100 or nick@sellpdx.com.

To read the entire 2014 Portland Real Estate Market Report, click here.

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