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Portland Blog - This Week in Portland, Feb 20 - 27, 2010
Hello, Portlanders. I hope you had a great week in Portland and enjoyed all our moments of sunshine, spring flowers...and even flowering trees! While driving downtown, I saw a pink haze out of the corner of my eye, and looked over and saw the pink cherry trees were blooming already. Already!! I know there are fears of another cold snap that might kill off all the pretty spring flowers, but for now I am enjoying them and hoping for the best.
Last night we went out to celebrate my husband's birthday and we had a great time at the Sound Track Sector 9 show at the Crystal Ballroom. It was an awesome sold out show, so I hope you made it in if you wanted tickets. STS9 is a jazz/funk jam band. (If you're into jazz, here comes the Portland Jazz Festival!) While I was sitting there in the balcony, I met a girl who was visiting from San Francisco. She loves Portland and of course we struck up a conversation (I feel like Portland's ambassador, sometimes :-) We are indeed fortunate to live in a big little city, with just enough things to do, great music, live entertainment, and of course let's not forget the beautiful environment.
If the Olympics don't inspire you to get in shape, nothing will. Some of our former Portland Winterhawks team members are now Olympians. I won't be an Olympian in my lifetime, but I am doing my best to get fit so I can thoroughly enjoy our Portland outdoors this summer. Once again I made it out to the Forest Park, Upper Macleay trail for a trail run. I am training for my first ever 5K workout. If you want to get in shape too, I suggest you check out the "Couch to 5K workout plan". It walks you through progressively more challenging workouts over a series of weeks, so you can get yourself from couch potato to fit in no time. You can download the "C25K" workout for iPhone and Droid, or just do a quick web search and you will find the printed/web version. If you're looking for Portland hikes, check this website, PortlandHikers.org.
There is a lot going on in Portland this week. Here is your weekly Portland events rundown...
Featured Portland Events
Legally Blonde - The Musical - Keller. It’s here, and it’s “AN ELLE OF A SHOW” (Time magazine). The hilarious MGM film is now a smash hit musical, and now LEGALLY BLONDE THE MUSICAL is coming to you. Legally Blonde The Musical follows sorority star Elle Woods, an underestimated blonde who doesn’t take “no” for an answer. When her boyfriend dumps her for someone more “serious,” Elle puts down the credit card, hits the books, and sets out to go where no Delta Nu has gone before: Harvard Law. Along the way, Elle proves that being true to yourself never goes out of style. After turning Broadway and MTV hot pink, this “Feel-Good Song and Dance Juggernaut” (New York magazine) is “The Best New Musical Around!” (WOR).
Portland Baby Boomer Lifestyle Expo - Portland Expo Center - Whether you are already retired, or 35 and just starting to think about it, The Baby Boomer Lifestyle Expo is for you! You put in your time at work, you put in your time raising your kids, this is your time! Make the most of it! Save The Date! Feb. 20-21, 2010
OCAC - Art on the Vine Auction - Oregon Convention Center - OCAC Fundraiser: Art on the Vine Auction
Fine art, wine and travel packages are up for bid.
Portland Jazz Festival - The Portland Jazz Festival is a celebration of jazz music, Black History Month, and the City of Portland. Throughout the Festival there will be numerous events, including headlining ticketed concerts; free showcase performances highlighting regional talent; community performances co produced with our partners; and numerous educational opportunities.
Rose City Collectors Portland Market Show - Shop Approx. 200 Tables of Antiques & Collectibles from Past to Present, and Collectors from miles around.
The Butterfly Lovers Dance - Dance - Chinus Cultural Productions presents The Buttefly Lovers Dance with dancers from the famed Beijing Dance Academy Resident Dance Company - Tuesday, February 23rd - Wednesday, February 24th
Portland Photo of the Week
The Portland Photo of the week is Kurt R for this lovely image of a Mt Hood sunrise. Thanks to everyone for uploading and sharing their Portland photos, it is great to see what shows up on the site each week. We pick one photo each week and if your image is featured you will get a bag of Portland Coava coffee. Come upload your Portland pix!
University Park Neighborhood Report - Portland Real Estate Market
by Ross Seligman
University Park is located in North Portland and is bordered by Cathedral Park, St. Johns, University Park and Linnton neighborhoods. For more information on University Park, click here: http://www.portlandneighborhood.com/universitypark.html
In my monthly Portland real estate report, I always talk about how each individual neighborhood is a micro-market. If you are looking to buy or sell in a particular neighborhood, the most crucial information that you need to know is what is going on in that neighborhood. In this situation, the overall Portland market report is less important and the national real estate report is just about useless. This posting is a real estate report for the University Park neighborhood of all homes in all price ranges. Feel free to request particular neighborhoods in which you are interested in buying or selling and I am be happy to do a report, just contact me on this forum or at: http://www.propertiesofportland.com.
If you are looking for homes in University Park, visit this link where you can search for homes by particular neighborhood:
http://www.propertiesofportland.com/index.cfm/page/51539/parent/426...
The first thing you will notice about individual neighborhoods as compared to the overall Portland reports are that the numbers can be wildly different month to month. Basically, the bigger the pool of data you are working with, the smoother the stats become. As we focus on smaller areas, many different things can happen month to month.
On to the report:
Here is the overall chart of inventory, sold, and pending for the University Park neighborhood from 11/08 to 01/10:
The University Park neighborhood had a very strong 2009. In January 2010, the University Park neighborhood had 11 closed sales, 32 Pending Sales, and 153 on the market.
More stats for you from your friendly neighborhood real estate statistics nerd:
One year change from January 2009 to January 2010:
Inventory (how many homes on the market for sale): Down 0.6%
Homes sold: No Change
Homes pending sale: Up 45.5%
Chart for average price per square footage:
In the past 15 months, the average price per square footage in the University Park neighborhood has been between $110 and $151/sq. ft. In January 2010, the average price per square foot in the University Park neighborhood was $130.
One year change from January 2009 to January 2010:
Change in Price Per Square Foot:
January 2009: 115
January 2010: 130
Percentage Change: Up 12.6%
Days on Market, Sold/List Price:
This chart is showing us two things. First, how many days on the market that a home is spending, on average, before being sold. In January 2010, the average time on market for a home in the University Park neighborhood was only 38 days.
The second thing that this chart is showing you is what percentage of the listing price the owners actually are getting when the house is sold. This is a great indication of the pressure on prices. In January 2010, sellers in University Park received, on average, 99% of their listing price.
Change from January 2009 to January 2010:
Time on Market: Decreased 39.7%
Sold/List price % difference: Increased 4.2%
Average price for sale vs. average price of sold:
Months of inventory gives a time line of how long it would take for all of the current listings to sell. Anything above 4 months is considered a buyers market. This figure is a good indicator of supply and demand. December 2009 reflected a relatively balanced market in University Park, leaning toward the buyer's favor with 5.5 months of inventory. The very next month, however, saw a drop in sales from the holidays and created an inventory figure of 13.9 months for January 2010. This is way in the buyer's favor. I expect this to drop just as sharply next month since 32 homes are pending to close in February.
By the way, This does NOT mean that it will take 13.9 months for your home to sell. That figure was, on average in January, 38 days, remember? It is a figure that means that, if not another home were to come on the market in University Park from this point forward, in 13.9 months there would not be another home to sell. They would all be sold.
Visit my website where you can contact me and search all Portland Metro Area listings from the RMLS: http://www.propertiesofportland.com
The Best Deals in Portland This Week: Feb. 15 - Feb. 22
Each week, Ross selects some awesome Portland real estate deals. This week you have a chance at a gorgeous historic home in Irvington (The Lion and the Rose B&B). Check it out:
1. 1503 NE SCHUYLER ST Portland, OR 97212 - Irvington - $1,675,000
Read the Best Deals in Portland article for more homes and deals.
Finally our big move...looking for some guidance.
Moving in May
Solar Ambassador - Solarize Portland
Thinking about Moving
Alberta - Construction Complaint
You can post your own questions to the online Portland neighborhood, here.
All PortlandNeighborhood.com content is protected under copyright.
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Last night we went out to celebrate my husband's birthday and we had a great time at the Sound Track Sector 9 show at the Crystal Ballroom. It was an awesome sold out show, so I hope you made it in if you wanted tickets. STS9 is a jazz/funk jam band. (If you're into jazz, here comes the Portland Jazz Festival!) While I was sitting there in the balcony, I met a girl who was visiting from San Francisco. She loves Portland and of course we struck up a conversation (I feel like Portland's ambassador, sometimes :-) We are indeed fortunate to live in a big little city, with just enough things to do, great music, live entertainment, and of course let's not forget the beautiful environment.
If the Olympics don't inspire you to get in shape, nothing will. Some of our former Portland Winterhawks team members are now Olympians. I won't be an Olympian in my lifetime, but I am doing my best to get fit so I can thoroughly enjoy our Portland outdoors this summer. Once again I made it out to the Forest Park, Upper Macleay trail for a trail run. I am training for my first ever 5K workout. If you want to get in shape too, I suggest you check out the "Couch to 5K workout plan". It walks you through progressively more challenging workouts over a series of weeks, so you can get yourself from couch potato to fit in no time. You can download the "C25K" workout for iPhone and Droid, or just do a quick web search and you will find the printed/web version. If you're looking for Portland hikes, check this website, PortlandHikers.org.
There is a lot going on in Portland this week. Here is your weekly Portland events rundown...
Featured Portland Events
Legally Blonde - The Musical - Keller. It’s here, and it’s “AN ELLE OF A SHOW” (Time magazine). The hilarious MGM film is now a smash hit musical, and now LEGALLY BLONDE THE MUSICAL is coming to you. Legally Blonde The Musical follows sorority star Elle Woods, an underestimated blonde who doesn’t take “no” for an answer. When her boyfriend dumps her for someone more “serious,” Elle puts down the credit card, hits the books, and sets out to go where no Delta Nu has gone before: Harvard Law. Along the way, Elle proves that being true to yourself never goes out of style. After turning Broadway and MTV hot pink, this “Feel-Good Song and Dance Juggernaut” (New York magazine) is “The Best New Musical Around!” (WOR).
Portland Baby Boomer Lifestyle Expo - Portland Expo Center - Whether you are already retired, or 35 and just starting to think about it, The Baby Boomer Lifestyle Expo is for you! You put in your time at work, you put in your time raising your kids, this is your time! Make the most of it! Save The Date! Feb. 20-21, 2010
OCAC - Art on the Vine Auction - Oregon Convention Center - OCAC Fundraiser: Art on the Vine Auction
Fine art, wine and travel packages are up for bid.
Portland Jazz Festival - The Portland Jazz Festival is a celebration of jazz music, Black History Month, and the City of Portland. Throughout the Festival there will be numerous events, including headlining ticketed concerts; free showcase performances highlighting regional talent; community performances co produced with our partners; and numerous educational opportunities.
Rose City Collectors Portland Market Show - Shop Approx. 200 Tables of Antiques & Collectibles from Past to Present, and Collectors from miles around.
The Butterfly Lovers Dance - Dance - Chinus Cultural Productions presents The Buttefly Lovers Dance with dancers from the famed Beijing Dance Academy Resident Dance Company - Tuesday, February 23rd - Wednesday, February 24th
Portland Photo of the Week
The Portland Photo of the week is Kurt R for this lovely image of a Mt Hood sunrise. Thanks to everyone for uploading and sharing their Portland photos, it is great to see what shows up on the site each week. We pick one photo each week and if your image is featured you will get a bag of Portland Coava coffee. Come upload your Portland pix!
University Park Neighborhood Report - Portland Real Estate Market
by Ross Seligman
University Park is located in North Portland and is bordered by Cathedral Park, St. Johns, University Park and Linnton neighborhoods. For more information on University Park, click here: http://www.portlandneighborhood.com/universitypark.html
In my monthly Portland real estate report, I always talk about how each individual neighborhood is a micro-market. If you are looking to buy or sell in a particular neighborhood, the most crucial information that you need to know is what is going on in that neighborhood. In this situation, the overall Portland market report is less important and the national real estate report is just about useless. This posting is a real estate report for the University Park neighborhood of all homes in all price ranges. Feel free to request particular neighborhoods in which you are interested in buying or selling and I am be happy to do a report, just contact me on this forum or at: http://www.propertiesofportland.com.
If you are looking for homes in University Park, visit this link where you can search for homes by particular neighborhood:
http://www.propertiesofportland.com/index.cfm/page/51539/parent/426...
The first thing you will notice about individual neighborhoods as compared to the overall Portland reports are that the numbers can be wildly different month to month. Basically, the bigger the pool of data you are working with, the smoother the stats become. As we focus on smaller areas, many different things can happen month to month.
On to the report:
Here is the overall chart of inventory, sold, and pending for the University Park neighborhood from 11/08 to 01/10:
The University Park neighborhood had a very strong 2009. In January 2010, the University Park neighborhood had 11 closed sales, 32 Pending Sales, and 153 on the market.
More stats for you from your friendly neighborhood real estate statistics nerd:
One year change from January 2009 to January 2010:
Inventory (how many homes on the market for sale): Down 0.6%
Homes sold: No Change
Homes pending sale: Up 45.5%
Chart for average price per square footage:
In the past 15 months, the average price per square footage in the University Park neighborhood has been between $110 and $151/sq. ft. In January 2010, the average price per square foot in the University Park neighborhood was $130.
One year change from January 2009 to January 2010:
Change in Price Per Square Foot:
January 2009: 115
January 2010: 130
Percentage Change: Up 12.6%
Days on Market, Sold/List Price:
This chart is showing us two things. First, how many days on the market that a home is spending, on average, before being sold. In January 2010, the average time on market for a home in the University Park neighborhood was only 38 days.
The second thing that this chart is showing you is what percentage of the listing price the owners actually are getting when the house is sold. This is a great indication of the pressure on prices. In January 2010, sellers in University Park received, on average, 99% of their listing price.
Change from January 2009 to January 2010:
Time on Market: Decreased 39.7%
Sold/List price % difference: Increased 4.2%
Average price for sale vs. average price of sold:
This chart shows us what the average listing was and what the average sale was. In January 2010, the average price of a house on the market in University Park was $217,000. The average sale was $214,000.
More stats over one year:
Average active price: Down 11.1%
Average sold price: Up 14.4%.
Months of Inventory:
Months of inventory gives a time line of how long it would take for all of the current listings to sell. Anything above 4 months is considered a buyers market. This figure is a good indicator of supply and demand. December 2009 reflected a relatively balanced market in University Park, leaning toward the buyer's favor with 5.5 months of inventory. The very next month, however, saw a drop in sales from the holidays and created an inventory figure of 13.9 months for January 2010. This is way in the buyer's favor. I expect this to drop just as sharply next month since 32 homes are pending to close in February.
By the way, This does NOT mean that it will take 13.9 months for your home to sell. That figure was, on average in January, 38 days, remember? It is a figure that means that, if not another home were to come on the market in University Park from this point forward, in 13.9 months there would not be another home to sell. They would all be sold.
Visit my website where you can contact me and search all Portland Metro Area listings from the RMLS: http://www.propertiesofportland.com
The Best Deals in Portland This Week: Feb. 15 - Feb. 22
Each week, Ross selects some awesome Portland real estate deals. This week you have a chance at a gorgeous historic home in Irvington (The Lion and the Rose B&B). Check it out:
1. 1503 NE SCHUYLER ST Portland, OR 97212 - Irvington - $1,675,000
Read the Best Deals in Portland article for more homes and deals.
Heard on the Forum
Come join the discussions in the Portland forums, blog, and groups.Finally our big move...looking for some guidance.
Moving in May
Solar Ambassador - Solarize Portland
Thinking about Moving
Alberta - Construction Complaint
You can post your own questions to the online Portland neighborhood, here.
New PortlandNeighborhood Members
A huge hello and hearty welcome to our new members! We hope you love this wonderful Portland blog! If you love this site as much as we do, please invite your friends!All PortlandNeighborhood.com content is protected under copyright.
Tags: portland blog, portland events, portland jazz festival, portland real estate, this week in portland
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