How is the Portland condo market? Well, based on April Portland condo sales, it’s going pretty well. For the month of April there were 54 sales in the $150,000 and up market which includes the Pearl District, Downtown and South Waterfront. This is down just 4 sales from last month but the pending sales jumped this month with 79 in a pending status. Sales were evenly spread out between low end condos and Portland’s million dollar condos. This month there were 5 condos that sold above $998,000. This includes a Cambridge condo that is just walking distance to NW 23rd, priced at $1,440,000 that sold for 3.6% off of it’s original list price. Also selling in April was one of my favorite Portland townhouse units at Park Place, this Jeffrey Lamb designed Portland townhouse sold for $1,125,000. Stats for the $500,000 and higher market showed average days on market at 84 with an average of 3.5% off of the listed price. In the $500,000 and lower market, average days on market were 49 with sales happening at 1.7% off of the list price.
Remember, if you want to sell your condo in this market for top dollar, don’t just list it with a typical agent that will put it in the MLS and wait. Will it sell? Sure, in this market at some point it will sell. Why not try to maximize your returns though by having a great marketing program in place? We believe that the better the marketing, the better the possible returns. It does not matter whether you are selling real estate or widgets, marketing works! Like the recent AT&T commercials suggest…”It’s not complicated, more is better!” And not only is more better…better is better! Visit us at Portland’s #1 condo search website.