Portland Condominium Sales for November
Portland condominium sales were down for the month of November. For the month of November, in our designated area of coverage from The Pearl District, Downtown to South Waterfront and in the price range of $200,000 and higher, 35 sales closed. Pending sales were also down this month which is not unusual for this time of year. What is unusual is the high number of showings that active condominiums are getting. Part of this could be due to the low inventory levels we are seeing.
Leading the way in sales once again for the month of November is Atwater Place in South Waterfront and Encore in The Pearl District. Atwater Place and Encore each had 3 sales for the month. For the first time in a while, there were no condos that sold in $1,000,000 and higher price range. This will change next month as there are several $1,000,000 condos that are in a Pending status. 77% of the condominiums sold this month were under the $500,000 range. This will change dramatically next month as we see many more condominiums and lofts above that range in a pending status, including 6 at Atwater Place that Priced from $515,000 to $1,150,000.
Remember, if you are in the market to buy a Portland condominium, work with a condominium specialist! Why risk what may be one of your largest purchases with an agent that does not fully understand this market? If you are thinking about selling your Portland condominium, why not select an agent that has marketing that is directed towards buyers everyday?
In our next blog about Portland condominiums we will be discussing Portland penthouses!
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