Back by popular demand is my second installment of inventories by zipcode. This shows which parts of town and which types of property are selling and which ones are sitting. Inventory is figured in months with 6 months being balanced, less than 6 months favoring sellers and more than six months favoring buyers. If I missed your area just let me know and I’ll add it in.

Detached Homes:
97214 – 2.9 months
97217 – 2.9 months
97212 – 5.2 months
97203 – 5.2 months
97202 – 6.0 months
97232 – 6.5 months
97219 – 8.9 months
97210 – 9.2 months
97227 – 9.5 months
97201 – 18 months
97206 – 6.5 months
97213 – 7.2 months

Condos

97232 – 5.0 months
97214 – 7.8 months
97210 – 8.9 months
97202 – 11 months
97209 – 11 months
97219 – 12 months
97203 – 15 months
97212 – 19.3 months
97217 – 29 months
97206 – 12.8 months
97213 – 8.4 months

Popularity: 59% [?]

Spring 2008 Portland Report is now available. We’ll be throwing a party soon to celebrate so stay tuned

Spring 2008 Portland Report

Popularity: 48% [?]

News came out that the April inventory of homes in Portland actually went back up to February levels at 10.3 months. I had predicted, based on the activity levels in my office and among my clients that the inventory would continue to trend down. I will be taking a look at how detached homes close-in are faring because my experience in this arena feels more balanced than the metro inventory would suggest.

For example: I have a client looking in the $300k range. We identified 15 possible properties on Wednesday to look at that weekend and by Friday 5 of them were pending. Well priced homes that are staged or show very well are still going fast, many of them with multiple offers.

Look for another detached home update by zipcode this next week.

Popularity: 46% [?]

I am often asked the question, “What are the next hot neighborhoods in Portland.” I like answering this question because I feel I have a good take on what makes a great neighborhood. Also, as a Broker that handles commercial real estate, I know many of the developers in town and where they are planning new projects.

What makes a great neighborhood? In one word: Lifestyle = Parks, Transit, Restaurants, Bars, Entertainment

North Portland: Kenton
I love this place. Close it I-5 and Interstate MAX line. Denver has new cafes and shops openning up and Kenton Park is great all summer.

NE Portland: Hollywood
When you’re competing with Alameda and Irvington it’s hard to stand out but for buyers looking to walk their neighborhood this is the place. Close to Sandy which is changing to a more upscale corridor and more affordable than it’s surrounding neighborhoods.

SE Portland: Clinton
Two blocks south of the rapidly changed Division St. you can walk to all Division has to offer with a much quieter feel. Home of one of the best new sushi places [Bara], a theater, and great bars. Centered around 26th Ave to 21st Ave.

SW Portland: Multnomah Village
This is not a secret but I think this area will continue to build as the quaint small town center of SW Portland.

NW Portland: Downtown North of NW Thurman St.
Just above the Pearl District this area has a ton of new development slated for the next few years. A great place to buy an old warehouse and make some real lofts or try to find a rare old house in amongst the industrial neighbors.

Popularity: 53% [?]

For you reading pleasure I am sharing Portland State University’s Center for Real Estate’s Quarterly Report.

There is very good news for certain close-in home owners – skip to page 62

Report Here

Popularity: 41% [?]