We saw an increase in Portland metro real estate inventory to 11 months in the recently released RMLS Market Action. For the last few months I’ve been tracking the local Portland RMLS areas as well so that we can see how area specific real estate can be. The upward trend continued on the east side of the Willamette River but on the West side there were some declines.
I agree that there are a lot of great features that the Portland Metro area has to offer, especially the green factor. Portland’s real estate is one of the best deals on the West Coast as it has the lowest cost of living out of all the major West Coast cities. However, people from other parts of the country may not feel this way. Portland’s real estate is higher than most of the Mid-West and the South; but then again, Portland has way more to offer. Residents can save money by using one of our many public transit systems, such as the MAX, the WES, the Streetcar, the Tram, or on of the many Tri-Met bus lines. The city is also ranked the #10 most walkable city in the country. There are also many other ways to be green in the Portland area, including buying one of the many sustainable homes and condos that are currently for sale and being built. Remember, when living in Portland you are never too green!
I agree with Jordan. To compare Portland’s real estate prices to Boise, Idaho or Tuscaloosa, Alabama is not fair. This city has a list of awesome things that create higher prices. But the earnings are also higher here than the aforementioned cities. So it balances out.
Heck, Jordan and Dong look more like SPAM than my previous posts!
Neither of them obviously live here or are oblivious to the job market, incomes, TriMet’s recent rate hike and cut in bus lines, etc, etc.
Dong, do you know that teachers can afford houses in Sioux City, Iowa? Not only my hometown but recently mentioned by Coldwell Bankers as one of the most affordable places to live.
Jordan, do you know that the Max line is powered by a coal burning plant in Boardman? Do you know that our ‘green’ standards are a joke aka green washing compared to European standards.
So do realtors have a pact to post happy thoughts on each others’ sites to keep folks ignorant of the continuing drop in RE prices?