This Week:
The median condo/townhome price in Portland’s Pearl District (PORTLAND 97209) this week is $479,500. Inventory is up and Market Action is trending down recently. While days-on-market appears to be trending lower, the overall conditions are weakening a bit.

Price
Again this week in this zip code we see a downward notch for prices. We continue to pull back from the market’s highs. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.

Because this chart is dynamic, the numbers on the chart may be different from mentioned in the post.

Supply and Demand
Local conditions are currently quite strongly in the Buyer’s Market zone (below 30). The 90-day Market Action Index stands at 9. With several months of inventory available at the current sales rate, buyers should find ample choice.

Because this chart is dynamic, the numbers on the chart may be different from mentioned in the post.

Quartiles
Investigate the market in quartiles - where each quartile is 25% of the homes:
- Most-Expensive 25% of homes
- Upper-Middle 25% of homes
- Lower-middle 25% of homes
- Least-expensive 25% of homes

Subscribe here to receive the full 10 page report for the Pearl District or any other zip code.

See Also: Pearl District Real Estate Statistics

It’s never Christmas without some drama.
The Grinch That Stole Hanukkah?
It seems a Holiday Menorah in the Pearl District’s Jamison Square won’t be reappearing this year following complaints from area residents.Two years ago, racial justice advocate Sam Sachs noticed that Jamison Square had a Christmas Tree in the middle of it. Sachs thought it would be great to see a Menorah for Hannukah as well, just like in Pioneer Square, so he called Multi-Services Inc., the company responsible for the decorations, and voiced his concern. Sure enough, last year, this Menorah appeared:

Menorah in Jamison Square

This month as the Christmas tree went up, Sachs looked forward to the Menorah, but it never appeared. Since today is the first day of Hanukkah, Sachs called Multi-Services Inc. and spoke with James Hanbrick, who is in charge of the decorations in the square. Sachs says Hanbrick told him that last year they received several complaints about the Menorah and that it was confusing to the residents of The Pearl District.
Read the rest of the story here.

This Week:
The median condo/townhome price in Portland’s Pearl District (PORTLAND 97209) this week is $489,000. Inventory is up and Market Action is trending down recently. While days-on-market appears to be trending lower, the overall conditions are weakening a bit.

97209 Condo Real Estate Statistics

If you can’t tell by now, I am all about statistics. I believe that the best way to buy and sell real estate is by the numbers. I look at the statistics for the Pearl District (and Portland as a whole) every week. Starting today, I am going to be doing a weekly update on the Condo market for the zip code 97209. I will have an executive summary to download as well as some commentary about whats happening in our neighborhood.

If a quick post isn’t enough for you I will have full reports available to those that want to subscribe to them. So that you can see the value of subscribing, I will have both the executive summary and the full report to download today. You can subscribe here for the Zip Code 97209, or any other zip code in the Portland metro area for that matter. Enjoy.

  97209 Condo Executive Summary 121408 (139.7 KiB, 0 hits)

  97209 Condo Market Update 121408 (407.2 KiB, 0 hits)

Finally. I know its been a long time coming, but I have finally worked out the bugs and have updated the stats pages for each building in the Pearl. Go to the sidebar on the right and scroll down until you find your building. These stats should be updated by the 7th of every month. Once the individual pages are updated, I will do a recap post (like this one) to talk about the Pearl as a whole. If that wasn’t enough stats for you, I will compare the Pearl stats to the overall Portland Metro area condo market when RMLS releases those numbers (roughly the 15th of every month). So here we go…

Check out the Pearl District Real Estate Statistics page here.
For the year-to-date, our average sales price is still up over last year (just over 11%) though last months sales show how the market is finally having an effect on the Pearl. The average sales price for the month was $387,242 which is only 65% of the YTD numbers. Part of this is seasonality; we only had 12 homes sell last month.
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