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March 2020 Portland Market Stats

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The statistics for March of 2020 are available, and as we look back, this gives us the best look at how the beginning of the pandemic affected our local market. Kate Brown issued stay at home orders on March 24th, so the housing market had not yet been affected by the pandemic. The quick and dirty breakdown of the numbers indicates that everyone was gearing up for the busy season. We saw a huge push of new listings, newly pending homes, and new closings. We also saw the average home price jump up and the days on market drop down. Keep on reading if you want a more in-depth look!

Portland Metro

Looking at the numbers for Portland, you can see that we were heading into a very strong market. March is always the beginning of our busy season. Many people believe June is the best month to sell a home, but here in Portland, it tends to be March or April. We saw a 25% jump in new listings in March compared to February and a 24% jump in closed sales. That shows that even though we are finally starting to get more inventory, there are plenty of buyers out there.

So far for 2020 we are at a 4.1% appreciation. This is a healthy and normal amount of appreciation. So while you may not be making a ton of money year over year, real estate remains one of the safest investments you can make. Also, a quick note about the market as I am writing this, we are in the heat of our lockdown, and while we did see real estate slow for the first 2 weeks, things seem to be picking up right where they left off. We have seen many new listings come onto the market, and everything close-in at a mid-range price is still selling quite quickly and often with multiple offers. If you are waiting for the market to tank before you jump in to buy, it isn’t going to happen.

Selling

If you are considering selling your home, now is an excellent time to get into the market. People are out looking for homes right now and I fully anticipate that when the stay at home order is lifted, we will see a huge push of new listings. More listings means more competition and less buyers for your home. We don’t have a crystal ball but the way things feel right now, it doesn’t seem like we are going to be as hurt by this as the media is tending to portray. Timing is always a personal choice, but if you are ready to move and thinking of selling, let’s come up with a game plan to ensure that you net as much money as possible. If you want an individual valuation, reach out to us and we can discuss details. You can also get an instant home value by clicking here.

Buying

If you are thinking about buying, these numbers may seem a bit intimidating to you, but know there will be many more homes coming on the market very soon. With interest rates being historically low, even if you do end up competing on a home, chances are you are still getting a great deal. You also never know when the perfect home is going to come on the market, so if you are thinking of looking, it doesn’t hurt to start now to see what is out there. You can search all the homes in the area HERE.

East Portland

Everything on the Eastside performed well last month. Days on market are down by more than a week, which means things are selling really quickly. 51 days seems like quite awhile, but if we remove the outliers, this number is much closer to 9 days. North Portland saw a huge jump in average sales price for March and is almost equal to that of Southeast Portland. With the Vancouver/Williams corridor becoming so popular, and all the new construction going up, prices have been jumping very quickly in North Portland. There are still affordable pockets, you just need to know where to look.

West Portland

Unlike last month, we saw the average sales price climb back up for West Portland. This number is back to where we were at the beginning of the year. We also saw the days on market climb a bit. It is only 1 day longer than last month, so this number is pretty arbitrary. As previously mentioned, the Westside has the majority of the luxury listings and condos, both of which simply take longer to sell. Numbers are staying pretty consistent on this side of the river, so you should be able to plan out into the future if you aren’t ready to make a move yet.

We hope this helps to breakdown the March market in the Portland area. If you have any specific questions about your neighborhood please send us a message! You can fill out the form below or reach out to us on Facebook. We are always happy to discuss how this specifically affects you and your home value!

Cooking

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We are still stuck inside and with dine-in restaurants being closed for the foreseeable future in Oregon, now is the perfect time to pick up a cooking hobby! I am a total foodie, and while I prefer to have other people cook for me, I can also whip up a pretty tasty meal. Below are some of my favorite recipes for cooking, baking, drinking, or throwing yourself a mini dinner party! You could even have your friends cook the same meal and do a virtual dinner party via Zoom, Skype, or Google!!

Easy Meals

I’m a mom of a toddler, so easy is basically my go to these days. These recipes taste delicious, are quick, and don’t involve too much prep work!

  1. Salmon Bowls
  2. Super simple grilled salmon, tossed with healthy veggies with a Mediterranean flair. Easy and super healthy too!

Recipe

  1. Shrimp Tacos
  2. Grilled shrimp topped with simple fresh ingredients for a great punch.

Recipe

  1. Chicken and Dirty Rice
  2. Super flavorful one-pot meal with chicken thighs and andouille sausage.

Recipe

Slow Roasts

Sometimes you just need to let things simmer. I love my Dutch oven and firmly believe that everything just tastes better after it has cooked for 3 hours. These are my top slow-cooked choices!

  1. Pork Green Chile Verde
  2. Slightly spicy, super meaty, crazy tender pork, just the way a good green chili should be. Pro tip – shred up the pork after its cooked, it’s even more tender that way.

Recipe

  1. BBQ Pot Roast
  2. This pot roast came out so much better than I anticipated. It is amazing on its own or fantastic on sandwiches!

Recipe

  1. Braised Short Ribs
  2. Wolfgang Puck knows how to cook, so you can bet that this will be one of the best meals you have ever had.

Recipe

Dinner Party Ideas

It is almost my birthday, and because we are still social distancing, I plan to have a little dinner party for myself. Here are 3 multi-course meals that I have made before that turned out phenomenally! You could always practice some of these recipes and then have a celebration with friends when we can finally see each other again!

  1. Traditional NW Meal
  2. 4 course meal with pretty simple recipes to help ease you into hosting a full blown party (for yourself or your family)

  1. Mexican Inspired Meal
  2. 4 course meal with some of my favorite Mexican flavors. This is one that is simple to pull off but is sure to impress!
  1. Citrus and Seafood Meal
  2. This one is easily my favorite, but it does require some cooking skills to pull off the protiens. This can be done as the full 7 course meal, or you can take out one salad and one entree to make it 5 courses.

Baking

Maybe cooking isn’t really your thing and you would rather whip up something sweet? Here are some of my favorite things to make when I feel like spoiling myself.

  1. Lemon and Raspberry Macarons
  2. These aren’t exactly easy to make, but they are delicious and I have total faith in your baking skills.

Recipe

  1. Key Lime Cheesecake
  2. Key lime pie, and cheesecake are easily my 2 favorite desserts, so why not mash them up? Also DO NOT use regular lime juice, you will do this dessert a serious disservice.

Recipe

  1. Amaretto Apple Crisp
  2. This is so so so good, I think I have made it 6 times. Pro tip – add some Amaretti cookies to the crisp to really make the amaretto flavor shine!

Recipe

Cocktails

Lastly, if you really don’t actually want to spend a bunch of time cooking in the kitchen, we have you covered with some of our favorite drinks! If you don’t want to go and buy special things to make drinks, we also have you covered. THIS WEBSITE will send you recipes that match what you already have at home…it’s a game changer.

French 75

Literally what your dreams are made of.

  • 1.5 oz gin
  • 1 oz lemon juice
  • 1 oz simple syrup
  • 1/4 C sparkling wine
  • Shake gin, lemon, and simple syrup over ice for 30 seconds, top with sparkling wine.

White Peach Sangria

It’s the perfect no fuss sunny day beverage.

  • 1 bottle pinot gris
  • 1/2 cup Peach Vodka
  • 1/2 cup Peach Schnapps
  • 1 cup soda water
  • 3 sliced peaches
  • 1 cup raspberries
  • combine all ingredients and serve over ice. If you want it to be more boozy, soak the fruit overnight in the peach vodka.

Perfect Margarita

Honestly, this one is hard to beat.

  • 2 oz white tequila
  • 1 oz cointreau
  • 1 oz lime juice
  • 1/2 oz agave syrup
  • combine all ingredients and shake with ice. Strain and serve over fresh ice with a lime wedge.

Hopefully this will all keep you busy for at least a week while we put together another list of great things for you to do! If you missed the last couple weeks we did: Netflix Binges, Books to Read, and Running Playlists.

As always please stay safe and healthy and know that if there is anything we can do for you, we are definitely still here to help!

Paint Palette

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Color is such an important part of personalizing a home. But it’s also key in making your home a space others can see themselves moving into. We know you probably have lots of extra time on your hands, so here are our 4 tips to whip your home into shape!

*Not a fan of videos? Keep scrolling for the written version!*

Today we are going to be talking with you all about the power of paint and how it can make a huge impact in the home selling process for a very small investment.  We are all stuck in our homes for now, so if you have any plans for selling in the future, why not take this extra time to spruce things up?  Or, maybe you are just bored of your house colors in which case, this will provide a nice refresh!

We want our homes to feel like us, so often times we tailor them to suit our own tastes. Things like cozy furniture, bright and textured rugs, wall art and the right light fixtures can really reflect a style and personality. Sometimes we even go a little risky and do accent walls. Things like painting our children’s bedrooms to mimic night sky. or We will add a little DIY wallpaper. While these are all AMAZING ways to customize spaces, when it comes to preparing your home for resale, these colorful wall colors can really start to restrict your buyer pool. If you’ve never tried selling a home with bright orange walls, then you probably don’t even know the power a simple color change can make. We want to do everything we can to sell your home as quickly as possible. 

The good news is that a fresh coat of paint can change everything.  Here are our top 4 tips! 

Tip 1: Your Door

 First things first, let’s consider your front door. It’s a smaller project and might offer you a little more creativity. You have probably seen black, gray and white doors, but this is actually where we want to see a pop of color.  If you have a lighter palette of colors on your home, try a rich navy blue or vibrant red.  If you have a dark color palette, like a grey or navy, try a bright color like sunny yellow or a lively teal.  You want to wow people before they even get inside. 

Tip 2: Keep it Uniform

Secondly, When it comes to interior walls, the trend here is to keep everything flowing with a neutral color. The idea is to create a blank canvas to help people envision themselves living there. You also want to think of it like flooring… We want it to be uniform throughout the home. Choose a neutral that you love.  You don’t have to carry that color through the whole home, just make sure that every room is in the same color family. You can do slightly lighter versions of the color in the bedrooms and hallway, and slightly darker version in your dining room or family room.  Exceptions to this are your smaller, tighter spaces like bathrooms without natural light. Those will benefit from whiter brighter paint that helps bounce light around and make the room appear wider and taller.

Tip 3: Keep it Neutral

Now that we know the look we’re going for, let’s talk color. The biggest trends right now are any and all whites, soft grays, and taupe. These might not seem like exciting choices, but they are all incredible popular. And that’s probably because they are so versatile and suit a variety of house styles from modern to traditional. Here you can see the colors that Sherwin Williams sells the most of, notice a trend?  If you hate the idea of painting everything white and grey, go for a greyed out version of your favorite color. Blue-greys will still look neutral but offer a bit more color and personality. 

Tip 4: Know your finishes

Lastly, another thing about paint is that not all textures are created equal. Usually when you go to Home Depot, Lowes or your favorite local home improvement store, you will be able to select a finish. Keep in mind the location of the room that you’re painting. Since kitchen’s are such a busy part of a home, go with a satin or semi-gloss finish.  Bathrooms should be in a semi-gloss or gloss, and all the other rooms should be in an eggshell finish.  

We have seen it many times, beautiful homes go on the market with crazy colors. Prospective buyers just can’t see past them.  Having a realtor that understands the current trends is more important than ever.  We can’t currently come to you, but, if you need some help picking out colors, we are happy to do a video chat and give you some tips. Just reach out to us!

Best Netflix Binge

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We are going to switch things up for our Hot Spot of the week! Since we are all social-distancing and self-quarantining we are going to be bringing you different things each week to help keep you entertained. This week we are focusing on Netflix shows! A good Binge-a-thon can be a great way to take your mind off of things and help you relax. Here are our favorite shows that you can currently find on Netflix listed alphabetically.

If you are able to buy gift cards or do takeout to support your local businesses, please do, we really want to see them on the other side of this!

Netflix Originals

Altered Carbon

Set in a future where consciousness is digitized and stored, a prisoner returns to life in a new body and must solve a mind-bending murder to win his freedom.

Black Mirror

An anthology series exploring a twisted, high-tech multiverse where humanity’s greatest innovations and darkest instincts collide.

Cheer

Follows the cheerleaders of Navarro College as they prepare for the biggest moment of their lives.

The Crown

Follows the political rivalries and romance of Queen Elizabeth II’s reign and the events that shaped the second half of the twentieth century.

Glow

A look at the personal and professional lives of a group of women who perform for a wrestling organization in Los Angeles during the 1980s.

Love is Blind

Singles who want to be loved for who they are, rather than what they look like, have signed up for a less conventional approach to modern dating.

Ozark

A financial adviser drags his family from Chicago to the Missouri Ozarks, where he must launder money to appease a drug boss.

Russian Doll

A cynical young woman in New York City keeps dying and returning to the party that’s being thrown in her honor on that same evening. She tries to find a way out of this strange time loop.

Stranger Things

When a young boy disappears, his mother, a police chief and his friends must confront terrifying supernatural forces in order to get him back.

Unbelievable

Based on the true story of Marie, a teenager who was charged with lying about having been raped, and the two female detectives who followed the path to the truth.

The Witcher

Geralt of Rivia, a solitary monster hunter, struggles to find his place in a world where people often prove more wicked than beasts.

You

A dangerously charming, intensely obsessive young man goes to extreme measures to insert himself into the lives of those he is transfixed by.

If you don’t want to stick to Netflix’s original series, here are some really great ones they have included in their library that originated elsewhere, they are all classics, so if you haven’t seen them yet, get started!

Breaking Bad

A high school chemistry teacher diagnosed with inoperable lung cancer turns to manufacturing and selling methamphetamine in order to secure his family’s future.

The Good Place

Four people and their otherworldly frienemy struggle in the afterlife to define what it means to be good.

Mad Men

New York’s most prestigious ad agencies at the beginning of the 1960s, focusing on one of the firm’s most mysterious but extremely talented ad executives, Donald Draper.

Outlander

An English combat nurse from 1945 is mysteriously swept back in time to 1743.

Peaky Blinders

A gangster family epic set in 1919 Birmingham, England; centered on a gang who sew razor blades in the peaks of their caps, and their fierce boss Tommy Shelby.

Schitt$ Creek

When rich video-store magnate Johnny Rose and his family suddenly find themselves broke, they are forced to leave their pampered lives to regroup in Schitt’s Creek.

Head over to NETFLIX to watch all of these shows. Did we leave your absolute favorite off of the list? Let us know in the comments so we can get it added. If there is anything else that we can offer during these difficult times, feel free to reach out!

February 2020 Market Stats

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Real estate by the numbers is out for the past month! The quick and dirty version of the February market is that inventory is still low keeping us in a seller’s market. Homes are appreciating by 5-7% over last year but dropped slightly compared to last month. And we are seeing many new listings as we get ready for the busy spring market. Read on below if you want details about your side of the river and the general market health.

Portland Metro February Market Numbers
Portland Metro

Looking at the numbers now just confirms what we were talking to our clients about last month. We saw more houses coming onto the market as seller’s were trying to get ahead of the spring rush. This push of listings also gave us more pending homes and therefore more sold homes. There are a lot of buyers out in the market and even though the inventory is climbing up, we are still seeing multiple offers on most close-in locations.

Many of us, myself included, expected to see more of a plateau in terms of appreciation, after the huge price jumps in 2017 and 2018. 2019 did see quite a bit of slowing, but so far this year the average sales price is up 5% over last year across the metro area. 4-6% appreciation is considered a steady and healthy market, so we should expect to see these numbers hold for at least a year or 2.

Selling

If you are considering selling your home now is an excellent time to get into the market. May-July are historically our busiest months for new listings, so if you want to take advantage of the huge buyer pool ahead of your competition, April could be the perfect month to list your home. Timing is always a personal choice, but you will likely net more money listing in the spring than early summer. If you want an individual valuation, reach out to us and we can discuss details. You can also get an instant home value by clicking here.

Buying

If you are thinking about buying, these numbers may seem a bit intimidating to you, but know there will be many more homes coming on the market very soon. With interest rates being historically low, even if you do end up competing on a home, chances are you are still getting a great deal. You also never know when the perfect home is going to come on the market, so if you are thinking of looking, it doesn’t hurt to start now to see what is out there. You can search all the homes in the area HERE.

East Portland

Overall the Eastside performed better than rest of the city in February. NE Portland saw the biggest jump in average home price, 2.5% since the beginning of the year, this is primarily due to some luxury listings closing. SE Portland continues to have the most new listings and the most closings because of its sheer size, at 247 closings, it had almost as many as NE and N Portland combined. North Portland is still one of the most affordable places to buy a home, with an average sales price of $407K you can still find cute homes in the 300K range.

East Portland February Market Numbers

West Portland

The Westside did vary a bit compared to the rest of the city, this is the only area that we saw the average days on market go up. The days on market are always quite a bit longer on this side of the river due to the condo sales. The condo market slowed substantially last year and this skews all the other numbers towards the negative. West Portland has a significantly higher average home price which also has a smaller buyer pool and therefore takes longer to sell.

West Portland February Market Numbers

We hope this helps to breakdown the February market in the Portland area. If you have any specific questions about your neighborhood please send us a message! You can fill out the form below or reach out to us on Facebook. We are always happy to discuss how this specifically affects you and your home value.

Pizzeria Otto

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We headed out to try some pizza this past week, and in a city that has SO much pizza, we really dug this place! Located in the hip Foster-Powell area this Neapolitan pizzeria does things a bit differently. The crust is soft and very thin. We typically think of thin crust pizzas as being slightly crisp, or perhaps chewy, but you can hardly even call the dough of this pizza a crust. They flash-cook the pizza in an incredibly hot wood-fired oven. This results in a crisp bubbly ring around the edges and a slightly gooey center.

Pizzeria Otto, neopolitan Pizza

We wanted to see what else they had to offer so we also tried a beet salad and one of their lunch paninos. The beet salad was fresh with a bright citrus dressing and a creamy goat cheese. It was everything that you have learned to love and expect from a good beet salad. The panino was surprisingly more like a pita made of pizza dough, but so delicious! They stuff the bread with salami, Italian dressings, Lil Mama’s peppers and tons of arugula.

The food wasn’t the only thing that we liked about this cool new location. The dining room is spacious, minimalist, and they have huge windows which let in tons of natural light. I could easily spend all day in this restaurant because it has a great vibe.

Pizzeria Otto Dining Room

We enjoyed everything that we tried and definitely plan on going back to check it out again. We went for lunch and learned that they offer happy hour pricing from 11am to 5pm. So go and get a personal pizza and a glass of wine for cheap for your next lunch date!

In light of the Covid-19 outbreak, Pizzeria Otto is offering takeout pizzas and salads, just call ahead, order, and support your local businesses through these hard times!

Website, menu, and order number can be found here.

Voysey

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This week we checked out the elegant speakeasy cocktail bar Voysey! This basement bar can be found by following the red light down the stairway at the back of Loyal Legion. If you don’t have a curious mind, you may not have even known this plush cocktail lounge existed.

Voysey Portland, that portland life

Voysey is run by veteran female bartenders and bar managers serving up their own personal cocktail recipes as well as fun twists on some of the classics. As a result, everything on the menu is very thoughtful. If you are not in the mood for cocktails the menu is simple – 5 beer choices and 5 wine choices with a little something for everyone.

Voysey speakeasy in Portland

There are lots of cozy seating areas and a strong vintage vibe. Pink and red lights add to the ‘old-world’ vibe of the space. The bartender who served us was incredibly friendly, checked in on us just often enough to keep our drinks full, and was super knowledgable about all things cocktail.

We will definitely be going back to check out more of the drinks! If you want to keep current with what they are doing, check them out on Facebook!

Have you been yet? Had you even heard about it? Let us know what you think in the comments!

January 2020 Market Stats

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The time has come to once again look back on the market and reflect on how healthy the market has been. January of 2020 was a great month for Portland. Home prices are up 6.3% from January of last year! Despite all the recession rumors, everyone that owns a home is still making money. Interest rates are still insanely low. If you are thinking of buying, do it now before home prices jump up even more. If you want to read more about all the specifics, continue on past the graphic below!

January 2020 Real Estate Market Statistics
What these numbers mean to you

We also saw a significant jump in new listings, pendings, and sold homes. Many people entered the real estate market after the holidays which explains this big jump. While it is good to see homes coming on the market, we are still sitting around only 2.2 months of inventory. If no one else puts their home on the market, every single home will be sold in just over 2 months. As a buyer, this means there will be competition on all those ‘Pinterest perfect’ homes and you should expect multiple offers. As a seller, this means there is almost no competition and as long as you are priced appropriately, you should expect to sell quickly.

Despite this, we surprisingly saw the average days on market climb as well. If you separate this stat out by price point it paints a very different picture. Homes under $500,000 are, on average, selling in 7 days or less. Houses up to $1 million are selling in about 30 days. Homes over $1 million are selling in 60-100 days on average. If you want specifics on how long your home may take to sell, send us a message and we will happily send you some data.

Ready to make a move?

You sometimes hear us say “now is the perfect time to move” but whether you are a buyer or a seller, there are some really strong cases to be made about 2020 being the right year to do it. If you want to look at homes currently on the market you can do so here. If you want an instant evaluation of what your home is worth, you can do so here. Take advantage of the current interest rates to get yourself into a new and amazing home! You’ll be glad you did.

Does our analysis match your perception of the market? How did you feel January of 2020 went? Let us know in the comments!