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Portland Area Market Update

October 7, 2024 by Jessica Berger and Tekela Fisher Leave a Comment

As we move into fall, the Portland real estate market is showing mixed signals depending on price point and property type. The most recent market data reveals that affordability and interest rates are key factors driving buyer activity and competition.

Market Overview

Homes priced under $550,000 are flying off the shelf, with multiple offers and incredibly busy open houses becoming the norm. These properties are often receiving offers within the first weekend. This leads to buyers waiving contingencies to stand out in an increasingly competitive landscape. The recent dip in interest rates had the largest impact on these lower-priced homes, which sparked a surge in buyer demand and intense bidding wars.

portland home

However, homes listed above $550,000 are experiencing a slower market pace. Properties in this range are typically sitting for a couple of weeks before receiving serious interest—unless they are priced aggressively or offer something truly unique, like exceptional design or prime location. As a result, sellers in this price bracket need to be more strategic in their approach, ensuring their homes are staged well and priced to attract discerning buyers.

Overall, the average sale price for the Portland metro area rose slightly, increasing from $600,500 to $611,900, which represents a modest 1.9% growth compared to last year. This suggests a steady market environment despite varying activity levels across price points.

Most Expensive Sale in September

The most expensive home sale in September was a breathtaking estate located in Portland’s prestigious Dunthorpe neighborhood. This 5-bedroom main residence, complete with a 4-bedroom guest house, boasts just under 10,000 square feet of luxurious living space. The property was meticulously remodeled from the studs out by the previous owners and is situated on over an acre of beautifully landscaped grounds.

Originally listed for $5.9 million, the home sold for $5.38 million after being on the market for just over five months. The Dunthorpe neighborhood, known for its privacy, top-rated schools, and proximity to both downtown Portland and Lake Oswego, continues to attract buyers seeking a blend of elegance and convenience.

What to Expect as We Enter Fall

Looking ahead, we anticipate the Portland market to hold fairly steady as we move into the fall season. While interest rates are expected to remain stable, we may see a gradual cooling of buyer activity as the year-end approaches and the holiday season kicks in. This typically results in fewer listings and a slight slowdown in overall transaction volume.

For sellers, it’s essential to stay proactive by pricing competitively and ensuring your home is in tip-top shape before listing. For buyers, this could be an opportunity to explore higher price points that have seen reduced competition, especially if you’re not in a hurry and have the flexibility to negotiate.

Whether you’re buying or selling, working with a knowledgeable realtor can make all the difference in navigating these shifting market dynamics. If you have any questions or want to know more about specific neighborhoods, don’t hesitate to reach out!

October Events

September 24, 2024 by Jessica Berger and Tekela Fisher Leave a Comment

It’s officially fall and I can smell the pumpkin spice from here! Luckily there is still no shortage of things to this month, and with any luck, the nice weather will stick around for most of October! Check out this list of events going on around Portland! We also have a list of some haunted houses below if you are feeling spooky!

First Thursday

Stroll through the art galleries in the pearl for an evening of art, music, and wine! Parking is difficult so public transit is recommended

The Pearl District

Free

October 3rd

5pm – 10pm though gallery hours vary.

Portland Greek Festival

The Portland Greek Festival is celebrated as the largest Greek Festival on the west coast with more than 15,000 people attending. This cultural experience features Greek food, music, dance and shopping! This year the event is going cashless and using wristbands to help you sample all the delicious offerings!

3131 NE Glisan St

$5 Admission

October 4th – 6th

Hood River Hops Fest

The Hood River Hops Fest is an annual celebration of beer’s bitter friend, freshly harvested hops.  Celebrating it’s 20th year, they will be hosting over 25 breweries and allowing you to purchase a commemorative cup, or bring your own glass!

Hood River Waterfront

$20-$35 – TICKETS

October 5th: 11am – 7pm

    Hood River Harvest Fest

    • You will find the valleys best fall bounty at this festival, produce, honey, flowers, plants and more! You can also find handcrafted gifts, live music, multiple food carts, and a bounce house area for the kiddos!
    • Hood River Event Site
    • $12, kids under 12 are free – TICKETS
    • October 11th – 13th
    • Friday 1pm – 6pm
    • Saturday 10am – 6pm
    • Sunday 10am – 5pm

    Spirit of Halloweentown

    • Each year, St. Helens, the filming site of the otherwise forgettable Halloweentown, remembers its brush with the dollar DVD bin with The Spirit of Halloweentown, a fun, family-friendly celebration of the spookiest holiday around.
    • St Helens, OR

    $40 online – TICKETS

    Weekends: September 28th – October 27th + October 31st

    Portland Film Festival

    • The festival focuses on people, ideas, technology, skills and artistry behind filmmaking and provides both entertaining and educational opportunities to the public.
      Portland Film Festival is Portland Oregon’s largest film festival by filmmakers for filmmakers.
    • Mcmenamins Kennedy School
    • $99 – TICKETS
    • October 16th – 20th

    Giant Pumpkin Regatta

    • The West Coast Giant Pumpkin Regatta is one of the most unique fall Festivals in Oregon. Since 2004 people from around the country have gathered to watch costumed characters paddle giant pumpkin boats in a series of races.
    • Lake of the Commons – Tualatin

    Free

    October 20th, 10am – 4pm

    Haunted Houses

    • Oaks Park Scaregrounds
    • The Fear PDX Haunted House
    • Underhill Haunted House
    • BeerQuest Haunted Pub Tour
    • Haunted Shanghai Tunnel Tours

    We hope to see you at some of these awesome events!

    Looking for something else to do? Check out our best of lists!

    August Events

    July 31, 2024 by Jessica Berger and Tekela Fisher Leave a Comment

    Can you believe we are almost to the end of summer? Well to celebrate we have an insane number of events for you! There are also so many street fairs and one day cultural events that they have their very own list at the end. You can also watch the world famous Hood to Coast relay!

    First Thursday

    Stroll through the art galleries in the pearl for an evening of art, music, and wine! Parking is difficult so public transit is recommended

    The Pearl District

    Free

    August 1st, 5pm – 10pm

    Dahlia Festival

    Celebrate the season of dahlias. Stroll through almost 40 acres and a beautiful display garden of stunning dahlias featuring over 370 varieties. The beautiful fields are open from August to September each year.

    Swan Island Dahlias

    Free

    Wednesdays-Sundays, 9am-5:30pm

    Pickathon

    The three-day festival on 80 acres just outside Portland attracts a range of indie, rock and rap artists as well as the bluegrass troupes that gave the event its name. The lineup is geared toward new music discovery; don’t worry if you haven’t heard of most of the artists that’s half of the fun!

    Pendarvis Farm

    From $205 – TICKETS

    August 1st-4th

    Concerts in the Park

    For over a century, local musicians of all genres and traditions have been entertaining crowds in Portland parks every summer. Listen to diverse beats like improvisational African jazz or Celtic folk-rock and enjoy a bite from local food vendors like Pips Original Doughnuts as you jam out with other community members.

    Citywide

    Free

    Thursday, Friday, Saturday 6:30pm

    Vanport Jazz Festival

    The Vanport Jazz Festival, presented by Moda Health and the Portland Trail Blazers, honors the city of Vanport and the voices that formed Portland’s jazz community. Near the historic 1948 flood site, the event transforms Colwood Golf Course into a cultural revival, welcoming nationally renowned artists and breathing new life into Portland jazz.

    Colwood Golf Center

    Starting at $65 – TICKETS

    August 2nd-3rd, times vary

    Portland Hot Sauce Expo

    Enjoy the taste of a huge variety of hot sauces at this annual exhibition. The expo includes free hot sauce tastings, a selection of craft beers and specialty cocktails, snacks ranging from barbecue to vegan bites, and the “Stage of Doom”.

    OMSI

    Starting at $10 – TICKETS

    August 10th – 11th,

    Bridge Pedal

    Portland’s annual Bridge Pedal is a community celebration of the city’s iconic bridges and biking culture. Join your friends and neighbors for the one opportunity each year to bike or walk on Portland’s car-free streets and bridges

    Multiple Locations

    Starting at $40 – TICKETS

    August 11th

    Adult Soap Box Derby

    Put down your video game controllers and step away from your Mario Kart. The best way to race isn’t on a screen; it’s down an extinct cinder cone volcano in Southeast Portland. The annual PDX Adult Soapbox Derby, pits grown-up kids against each other, with each team designing and assembling their own downhill racers in pursuit of maximum speed or big laughs.

    Mt Tabor Park

    Free

    August 17th, 10am – 4pm

    Hood To Coast

    If you aren’t running this relay (timberline to seaside) you can still cheer runners on as they make their way towards the coast. OR avoid the areas if you don’t want the interruption to traffic.

    Various Locations – MAPS

    Free to watch

    August 23th-24th

    Culture Festivals and Street Fairs

    • Fremont Festival – August 3rd
    • Chinese Festival – August 3rd
    • St. Johns Art Walk – August 3rd
    • Obon Festival – August 3rd
    • India Festival – August 11th
    • Multnomah Days – August 17th
    • Kenton Street Fair – August 18th
    • Pan African Festival – August 24th
    • Hawthorne Street Fair – August 25th
    • Portland Middle East Festival – August 25th

    We hope to see you at some of these awesome events!

    Looking for something else to do? Check out our best of lists!

    Phaya Thai Express

    July 12, 2024 by Jessica Berger and Tekela Fisher Leave a Comment

    Hey Portland friends! We just discovered a great new spot on Hawthorne Blvd that we’re excited to share with you—Phaya Thai Express. This fast-casual Thai spot has quickly become one of our go-to places for delicious, authentic Thai food, and we think you’ll love it too. Whether you need a quick lunch, or a low key dinner. Phaya is sure to meet your needs and be delicious while it is happening.

    Walking into Phaya Thai Express, you’re immediately greeted by the inviting aromas of freshly prepared dishes. The setup is simple and fun—you get to build your meal from a base of either white rice or brown rice and grains, and then choose from an array of mouthwatering dishes displayed cafeteria-style.

    On our visit, we decided to try a bowl with two selections. First up was the NY Steak Curry, featuring juicy NY steak, galangal, and a southern Thai curry that packed just the right amount of spice. It was hands down our favorite of the night.

    2 entree meal from phaya thai

    We also tried the Prik King Catfish, which included fried catfish in a house curry with rhizome root and basil. The combination of flavors was fantastic, with the basil adding a fresh twist to the lightly spicy curry. And of course, we couldn’t resist ordering some crab rangoon. These crispy treats, stuffed with real crab and served with a sweet and sour dipping sauce, were the perfect starter.

    We also tried a couple cocktails so that we could test out the full experience. I had a gin cocktail, which came with jasmine, giffard pampelmouse, and lemon. It was tart and well rounded. We also tried the hibiscus mezcalita which was very smoky and tart. It was made with mezcal, hibiscus syrup, aperol, lime and a chamoy rim.

    Something for Everyone

    One of the things we love about Phaya Thai Express is how inclusive their menu is. Whether you’re vegan, vegetarian, or need gluten-free options, there’s something here for you. The variety ensures everyone can find their new favorite dish. If you arent into cocktails they had multiple non-alcoholic mocktails and sodas. There is also a large outdoor patio for you to enjoy during these lovely sunny months.

    Whether you’re grabbing a quick lunch, having a casual dinner, or planning a get-together with friends, Phaya Thai Express is a great choice. The food is flavorful, the atmosphere is welcoming, and it’s conveniently located on Hawthorne Blvd.

    So next time you’re in the neighborhood, swing by Phaya Thai Express and treat yourself to some incredible Thai cuisine. We promise you won’t be disappointed!


    Have you been to Phaya Thai Express yet? Share your favorite dishes and tips in the comments—we’d love to hear from you! Looking for something else? You can see our other favorite places to eat around the city HERE

    Canard – Oregon City

    June 1, 2024 by Jessica Berger and Tekela Fisher Leave a Comment

    Hot Spot of the week is the new outpost of Canard in Oregon City! We recently headed over there for a leisurely business lunch, and it is the perfect spot for exactly that. This new restaurant offers some of the Canard classics, plus some new and interesting dishes.

    Canard Oregon City

    We started, as usual with some lovely cocktails. I had the Standard OG, a nice dark cocktail in the vein of a Vieux Carre. Jessica gave the Old Habits a spin, which was bright citrusy and a tad spicy from the jalapeno. Both were well-mixed and tasty!

    For lunch we started with the shrimp cocktail lettuce wraps. This dish is a refreshing twist on the classic shrimp cocktail, with the shrimp nestled in a leaf of butter lettuce and topped with a Thai cocktail sauce. It’s the perfect light lunch option that won’t leave you feeling weighed down.

    If you’re feeling more adventurous, try the foie gras dumplings. These little bites of heaven are bursting with rich and savory flavor. The dumplings are filled with foie gras and are bathed in dashi and hoisin that perfectly complements the richness of the filling.

    For a wonderful vegetarian option, don’t miss out on the seven spice squash. This dish features tender slices of Delicata squash that are seasoned with a blend of seven spices, and served alongside cashew cream, lemongrass, and grapefruit. It’s a perfect side dish to pair with any of Canard’s other offerings.

    Not only does Canard offer amazing food, but the restaurant itself is a sight to behold. The chic and modern decor creates a cozy and inviting atmosphere that will make you feel right at home. Whether you’re grabbing a quick bite on your lunch break or enjoying a leisurely meal with friends, Canard is the perfect spot.

    In terms of location, Canard is conveniently located in the heart of Oregon City. So, whether you’re a local or just passing through, it’s the perfect spot to stop and refuel during your day.

    Have you tried out Canard’s new Oregon City location yet? What were your favorite dishes? Let us know in the comments!

    5 Reasons to Move to Portland, OR

    May 31, 2024 by Jessica Berger and Tekela Fisher Leave a Comment

    Portland, Oregon, is a city that offers a unique blend of vibrant city life, stunning natural beauty, and a strong sense of community. Whether you’re seeking outdoor adventures, a thriving food scene, or a commitment to sustainability, Portland has something for everyone. Here are five compelling reasons to move to Portland and make it your new home.

    1. Outdoor Adventures

    Portland is a paradise for nature lovers, surrounded by breathtaking landscapes that offer endless opportunities for outdoor activities.

    • Hiking in the Columbia River Gorge: Just a short drive from the city, the Columbia River Gorge offers stunning hikes with waterfalls, panoramic views, and lush forests. It’s a hiker’s dream destination.
    • Exploring Forest Park: Within the city, Forest Park provides over 80 miles of trails, making it one of the largest urban forests in the country. Perfect for a weekend walk or an early morning run.
    • Cycling on the Springwater Corridor: Portland is also known for its biking culture. The Springwater Corridor, a multi-use trail, is a favorite among cyclists and offers a scenic route through the city and beyond.
    • Water Activities on the Willamette River: The Willamette River is ideal for kayaking, paddleboarding, and even dragon boat racing. There’s no shortage of adventure in Portland.

    2. The Food Scene

    Portland’s culinary landscape is diverse and innovative, catering to every palate.

    • Food Truck Culture: Portland’s food truck culture is legendary. From Korean BBQ to vegan comfort food, the city’s food trucks offer a world of flavors. These pods are a favorite lunchtime destination for locals.
    • Farm-to-Table Restaurants: For a more upscale experience, Portland’s farm-to-table restaurants emphasize fresh, local ingredients. Chefs here are passionate about creating seasonal dishes that highlight the best of the Pacific Northwest.
    • Portland Farmers Market: Don’t miss the Portland Farmers Market, where you can find everything from organic produce to artisanal cheeses. It’s a great way to support local farmers and discover new ingredients.
    • Salt & Straw Ice Cream: For a sweet treat, head to Salt & Straw, where you’ll find unique ice cream flavors crafted with local ingredients. It’s a must-visit for any foodie.

    3. Arts and Culture

    Portland’s creative spirit is evident in its thriving arts scene.

    • Art Galleries: Art lovers will appreciate the city’s numerous galleries showcasing works from local and international artists. First Thursday in the Pearl District is a popular monthly event where galleries open their doors for evening receptions.
    • Live Music: Live music is a big part of Portland’s culture. From intimate venues like Mississippi Studios to larger stages like the Crystal Ballroom, there’s always a show to catch. The city’s music scene is diverse, featuring everything from indie bands to jazz ensembles.
    • Street Art: Portland’s streets are adorned with vibrant murals and street art. These pieces reflect the city’s creative energy and provide colorful backdrops throughout the neighborhoods.

    4. Sustainable Living

    Portland is at the forefront of sustainable and eco-friendly practices.

    • Public Transportation: The city boasts an extensive public transportation system, including buses, light rail, and streetcars, making it easy to get around without a car. This commitment to public transit helps reduce the city’s carbon footprint.
    • Green Spaces: Green spaces are abundant in Portland. The city is home to over 275 parks, including community gardens where residents can grow their own produce. These spaces promote a healthy, active lifestyle and a strong sense of community.
    • Eco-Friendly Initiatives: Eco-friendly initiatives are everywhere. From zero-waste stores to city-wide composting programs, Portland residents are dedicated to sustainable living. It’s a city where being environmentally conscious is a way of life.

    5. Community and Lifestyle

    Portland is known for its welcoming and inclusive community.

    • Diverse Neighborhoods: Portland’s neighborhoods each have their own unique charm. From the historic homes of Irvington to the trendy boutiques of the Pearl District, there’s a neighborhood for everyone.
    • Community Events: Community events are a big part of life here. Street fairs, farmers’ markets, and neighborhood festivals bring people together and create a strong sense of belonging.
    • Friendly Locals: The friendly and inclusive nature of Portland’s residents makes it easy to connect with others. Whether you’re chatting with a barista at your favorite coffee shop or joining a local club, you’ll find a warm and welcoming community.

    Bonus: Affordability

    Portland is the most affordable major city on the West Coast.

    • Cost of Living: Compared to other West Coast cities like San Francisco, Seattle, and Los Angeles, Portland offers a more affordable cost of living. Housing, groceries, and utilities are all more budget-friendly, making it easier to enjoy a high quality of life without breaking the bank.
    • Value for Money: Despite its affordability, Portland doesn’t skimp on amenities. You’ll still enjoy top-notch dining, entertainment, and cultural experiences without the hefty price tag found in other major cities.

    There you have it – five amazing reasons, plus a bonus, to move to Portland, Oregon. Ready to make the move? Let us help you find your dream home in this incredible city. Contact us today to start your journey to Portland. We can’t wait to welcome you to your new home.

    June Events

    May 24, 2024 by Jessica Berger and Tekela Fisher Leave a Comment

    June is the start of festival season in Portland and we have some good ones to kick things off! Portland’s biggest party is also this month with the kickoff of the City fair and Rose parade! We have all the events happening at the rose festival listed at the bottom of the page!

    First Thursday

    Stroll through the art galleries in the pearl for an evening of art, music, and wine! Parking is difficult so public transit is recommended

    The Pearl District

    Free

    June 6th, 5pm – 10pm

    Portland Beer Week

    Every June, PDX Beer Week features limited-edition brews, a lineup of events, and beer specials at bars and brewpubs citywide, overflowing with so much hop fever that the “week” spills into ten full days of thirst-quenching fun.

    Various Locations

    Prices vary – more info coming soon

    June 1st

    Juneteenth

    Juneteenth commemorates African American freedom and emphasizes education and achievement. It is a day, a week, and in some areas, a month marked with celebrations, guest speakers, picnics and family gatherings. It is a time for reflection and rejoicing. It is a time for assessment, self-improvement and planning for the future.

    Albina Park

    MORE INFO

    June 15th

    Festival of Balloons

    The Festival of Balloons in Tigard (a suburb 30 minutes southwest of downtown Portland by car) brings more than a dozen brightly colored, colossal hot-air balloons to the sky every June.

    Cook Park, Tigard

    $15 – TICKETS

    MORE INFO

    June 21st – 23rd

    Festival of the Arts

    For more than 50 years, the Lake Oswego Festival of the Arts has proudly presented unique art exhibits including more than 600 local, national, and international artists. Visitors can also experience live music on two stages, performances, kids’ activities, artist demos, and a variety of food. It’s free to the public (donations encouraged) and attracts thousands of festival-goers each year.

    Lakewood Center for the Arts, Lake Oswego

    FREE

    June 21st – 23rd

    Rose Festival Events

    • Celebration of Oregon Brewers Festival – May 24-27, May 31-June 2, June 7-9
    • City Fair, carnival and entertainment – May 24-27, May 31-June 2, June 7-9
    • Opening Night and Fireworks – May 24th
    • Rose Fest Wine Walk – May 30th
    • Starlight Run – June 1st
    • Starlight Parade – June 1st
    • Fleet Week – June 5th – June 9th
    • Junior Parade – June 6th
    • Grand Floral Showcase – June 8th- June 9th
    • Dragon Boat Race – June 8th
    • Rose Garden Contest – June 18th
    • Milk Carton Boat Race – June 23rd

    We hope to see you at some of these awesome events!

    Looking for something else to do? Check out our best of lists!

    Portland Real Estate Market May 2024

    May 1, 2024 by Jessica Berger and Tekela Fisher Leave a Comment

    Navigating Portland’s Dynamic Market in 2024

    It’s May which means it is time to look back on the previous month and analyze the real estate trends and market conditions. As we venture deeper into 2024, the Portland real estate market is showing signs of holding steady. While rates had started coming down, beacause of the positive jobs report and increased inflation, they went back up into the 7s again. This has again led to some uncertainty in the market. There are still buyers in the market, but the buyer pool is smaller than it typically is this time of year. We are still seeing appreciation month over month, up 2.3% from the previous month. Inventory still continues to be the main driving factor driving home prices upwards. If we do see rates stay down continuously, expect to see appreciation jump into the 5-6% range.

    The Most and Least Expensive Homes Sold Last Month

    The Portland real estate market is diverse, ranging from luxury to affordability. Last month’s sales highlight this range vividly.

    An exemplar of luxury, the most expensive home sold last month in Portland was located in King Heights. This beautiful property has 6 bedrooms, 7 full bathrooms and 1 half bathroom. With over 8900 square feet this home sits on just under 1 acre. This home sold for a remarkable $4,558,000. There were 4 other homes that sold in Portland last month for over 2 million showcasing the strength of Portland’s high-end market.

    Contrasting this luxury, the least expensive home sold offers a glimpse into the market’s affordability. Situated in SE Portland, this cottage has 3 bedrooms and 1 bathroom. The home also has just over 1100 sqft and sold for just $249,000. The home definitely needs a little bit of work, but if you are willing to do some sweat equity, this home was a great deal! There were multiple other homes that sold for under $250,000 but they were either condemned or tear-downs. There were however multiple cute homes in the $250-$300K range.

    For Sellers: Seizing the Moment

    While this spring market has not been as hot as markets in the past couple years we are still seeing multiple offers on homes that are priced well and showing well. This often means that the homes are fully or partially staged. The buyers that we are seeing in the market are very well qualified which leads to fewer sales falling apart. This is good news as sellers so if you are considering a sale. Now could be the perfect time.

    For Buyers: Know your Strength

    Inventory and interest rates have led to a less than ideal market for buyers this spring. Top economists were expecting rates to come down to ease affordability concerns but unfortunately they have held steady in the high 6% to low 7% range. With low inventory some homes are still seeing multiple offers so if you are looking in the 500-800 range and in the highly coveted neighborhoods, expect to be writing against other buyers. The good news is if you are open to doing some finishing work or painting, you can likely get a good deal and have the seller buy down your interest rate.

    Tailored Advice and Guidance

    Whether you’re looking to buy, sell, or simply explore your options in Portland’s real estate market, personalized advice is key. For strategies, market timing, affordability, or property valuation, feel free to reach out. Together, we can navigate the evolving landscape of Portland’s real estate market in 2024.

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