High End Condos are selling in Portland!
And with that we are seeing inventory levels that we have not seen for many years. With many Portland condos selling and not many new listings coming into the market, we are now at 4.7 months inventory ( a sellers market) for the condo market that includes The Pearl District, Downtown and South Waterfront condominiums. Somewhat of a surprise is the number of higher end condos that have sold or went pending this month! At The Casey in Portland, two units priced above a million sold ( $1,375,000 and $1,170,000) and one priced at $979,000 went pending. The Westerly condominiums also had a unit that sold for $1,050,000 (8.6% off its list price) and another one went pending that was priced at $1,095,000. Additionally in the million dollar arena, unit #1401 at The Pinnacle finally went pending…priced at $1,150,000. It will be selling at a minimum of 11.5% of its original asked price. Unit #1532 at 937 Condominiums sold for $1,050,000.