Portland Real Estate Market Trends and Prediction 2020

Portland Real Estate Market Trends and Prediction 2020

If you are a real estate investor based in Portland, you already know that Portland housing market has a track record of being one of the best locations for long-term investments. And as 2020 approaches, you probably want to know whether or not it’s still wise to invest in Portland real estate this coming year. A number of reports claim that the housing market in portland is undergoing some changes might influence your decision to buy portland investment property. In this blog we are going to tell you the 2020 Portland real estate market forecast. We will follow up with a final forecast in January. Below are the early housing market forecasts from other sources about the entire real estate market position of the Portland. 

Before investing in the Portland real estate market it is essential to understand the factors that influence portland real estate market investment in 2020. From real estate investor point of view we have listed the influence factors. 

Positive demographic trend: With a metro population of 2.5 million, Portland is the 2nd largest city after Seattle. The population growth of the Portland has been increased for the last 10 years. New residents are moving to Portland from all over the country because it is one of the most safest and productive cities in the US. It is suitable for young adults looking to start families as well as the bachelors who need a single lifestyle.

Economy and job market: Economy of the Portland is stable due to its high employment rates. There are plenty of companies out there in Portland that gives thousands of opportunities to work and you could easily get the best Portland mortgage rates by contacting professional lenders.

Portland housing market forecast for 2020:

According to our real estate data and predictive analysis, the Portland housing market has a price to rent ratio of 23 which indicates that renting makes more financial sense for residents. If we talk about the luxury home market forecast it starts with $965,000. Your square property is 3,728 sq.ft on over. 25 acre a lot. You have 4 bedrooms and three full bathrooms. The average time to sell your home in Portland is now within 129 days. The top 25% of housing pricing are dropping but the bottom 25% are still increasing. The luxury and condo market in Portland are bringing down number for everyone else. The middle of the Portland market is performing fine, but as soon as you get the above average house pricing in our market much of anything over $450 k 

  • Median property price $658,000
  • Per sq foot $250
  • Cash on cash return 

Best neighborhoods in Portland for real estate investing. 

Now that we have established that Portland is a hood real estate investment city. You must be wondering where exactly in the city you buy a rental property. We have listed top 5 neighborhood to consider the best real estate investment. 

 Portsmouth

  • Median property price $372,934
  • Per sq foot $271
  • Cash on cash return 2%

Verson

  • Median property price $658,000
  • Per sq foot $250
  • Cash on cash return 

Eliot. 

  • Median property price $949,550
  • Per sq foot $400
  • Cash on cash return 2%

Final say:

We hope now you understand the Portland real estate investment in 2020. If you are willing to buy a property in portland you must contact a professional mortgage lender around.


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