Almost five years ago, I wrote this post on “Who Buys New Construction Condos?” It provided a demographic breakdown that the Oregonian published of the 200 pending buyer contracts:
52% are between 20-30 years old
20% between 30-39
20% between 40-49
6% between 50-59
2% 60 and older
54% are local to the Portland area
11% are from Portland suburbs
18% from Oregon, outside of the Portland area
9% from California and Washington
7% from the rest of the U.S.
At the time, $240,000 bought 823 SQFT. The auction list has an 847 SQFT unit listed for a minimum selling price of $130,000. That doesn’t mean it will sell for that price.
The John Ross responded to the Atwater auction last year by reducing prices on units which drove a wave of new sales.
[photo from John Ross Auction site]