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NORTH PORTLAND — North Portland Neighborhoods — from Cathedral Park to Overlook — are the next hot market for finding a home in Portland’s hot, hot housing market.
According to Red Fin, North Portland home prices were up 18.7% compared to last year, selling for a median price of $493K. That may be a lot to you, but compare it to the median price of $1.2 million for a home selling in the Grant neighborhood, or $652K for the Sellwood-Moreland neighborhoods.
The hot Portland real estate market is being fueled by record-low interest rates.
And North Portland homes are selling faster than last year, too. On average, homes in North Portland sell after 6 days on the market compared to 7 days last year. There were 125 homes sold in April this year, up from 87 last year.
People moving into north Portland neighborhoods love it for its accessibility to the Willamette River and Forest Park. And they love it for the million dollar views of those two locations, as well as the iconic St. Johns bridge, from the Cathedral Park neighborhood.
They also love its neighborhood charms, such as along the University or Portsmouth neighborhoods. And most of North Portland neighborhoods have easy access to grocery stores, restaurants and other needed amenities that can be found along the Lombard Street corridor.
According to a United Van Lines analysis of about 125 metropolitan areas, Portland ranked 18th as a moving destination in 2020. That’s down from ninth in 2019, but still ahead of regional magnets such as Denver and Salt Lake City. Oregon remained the third-most popular state to move to, trailing South Carolina and Idaho.
Nathan is an award-winning freelance content marketing producer (words, video, audio, strategy). He also is an award-winning newspaper reporter. He has an MBA and a BA in Editorial Journalism. He is a past director of SEMpdx’s digital marketing conference, and past director on the Society of Professional Journalists’ executive committee. He has two great kids, likes to sail, ride his road bike, and make beer.