Article in Friday’s (April 8) Portland Tribune by Peter Schulberg about Pearl District real estate says the market isn’t cooling off. There are nearly 3000 residental units in the area and only 84 are for sale according to the article. The search I just ran in the MLS system shows 40 active properties priced from $229,000 to $1,299,000 (when I search the 97209 zip code, I get a total of 63 listings). I’m not sure where the discrepency comes from.
The story updates my previous post about the Lexis. The Lexis will be converting to condos. The tenants that live there now will be given notice that they have 120 days to buy the unit they are in or move out. Prices will range from $150,000 for a 535 sqft studio to $500,000 for a 1380 sqft two bedroom.
The entire article is Pearl Real Estate is as Hot as Ever.