Sunday, April 15, 2007

Condos in the Pearl District

I was doing price comparisons for housing last year and kept a spreadsheet of a bunch of listings in the 97210 and 97209 zip codes. This past week I was running through the pearl district and noticed that there were a bunch of lock boxes on the outside of the marshall wells loft building and another building, each had over 10 (probably closer to 20) units clearly for sale. Buildings are going up all around the area as well. And, back to the price comparisons issue: same square footage units in these buildings were EXACTLY the same price this year. The local media is doing very little reporting about this. There are at least 130 units available (, search pearl district), and a bunch of listing s with similar square footage of the units I was looking at a year ago. Just a datapoint for any home shoppers. It’s a great area in Portland, but it appears to have hit at least a short term stability.

Another thing that happened last year was that there were several condos put up for sale, then taken off the market as winter approached. Those units are back up for sale, and I suspect holding at last year's prices.

I'd leverage this information in any purchase to your advantage.

No comments: