Portland Condo Market Update
I’ve had my head in the condo market the past few weeks and have spent some time looking at the opportunities and pricing dynamics in the Portland area.
I’ve compiled a breakdown of current condos by geography, average list price, size, dollar per square foot, and market activity. DOM stands for Days on Market, and these averages are higher than single family residences in Portland right now.
Available condos and townhomes as of April 25, ranked by number of listings:
| Area |
Listings
|
Avg. List Price
|
Avg. Sq. Ft.
|
$ / sq. ft.
|
DOM
|
| West Portland |
326
|
$538,940
|
1,329
|
$377
|
101
|
| Beaverton / Aloha |
128
|
$235,972
|
1,732
|
$165
|
59
|
| Southeast Portland |
93
|
$267,103
|
1,167
|
$229
|
59
|
| Tigard / Tualatin / Sherwood / Wilsonville |
85
|
$235,941
|
1,318
|
$179
|
60
|
| North Portland |
81
|
$425,188
|
1,363
|
$312
|
60
|
| Northeast Portland |
59
|
$411,402
|
1,233
|
$253
|
71
|
| Lake Oswego / West Linn |
58
|
$366,884
|
1,595
|
$230
|
43
|
| Gresham / Troutdale |
41
|
$246,972
|
1,690
|
$146
|
88
|
| Hillsboro / Forest Grove |
32
|
$223,903
|
1,424
|
$157
|
53
|
| Yamhill County |
28
|
$224,112
|
1,568
|
$143
|
89
|
| NW Washington County |
17
|
$262,329
|
1,472
|
$178
|
46
|
| Milwaukie / Clackamas |
12
|
$390,733
|
1,652
|
$236
|
51
|
| Oregon City / Canby |
7
|
$233,786
|
1,385
|
$169
|
46
|
As expected, the downtown core of Portland features the lion’s share of units, averaging over $375 per square foot. New properties in the South Waterfront will push up to $500 per square foot when released. Downtown and North Portland average values are somewhat skewed by a number of very high-priced units.
An update on the ‘affordable’ Harrison: I attended the sales release with an interested buyer this weekend. As the second round of buyers viewed available units around noon, the starting price for a 2-bedroom unit was up to $306,000 and ranged up to $420,000 for around 950 sq. ft. There were no $255,000 2-bedroom bargains here.
Please contact me if you would like further analysis of for any of the geographic areas listed above, or if you would like to see listings.
Picture: The Gregory by Portland Ground: Pictures of Portland Oregon - Used under Creative Commons License.
Technorati Tags: Portland, condo, pricing, market+activity
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13 comments April 26th, 2006
