Buying, selling and operating apartments in Portland

Portland Apartment Sales – Feb 19 | 29 March 2019

To download the individual sales report, right-click the link below and “Save As”:

 

<<<Portland_Feb19vsFeb18_AptSales>>>

 

Highlights:

  • Gross sales dollars Feb 19 YTD = $337.9M is a 4% DECREASE over Feb 18 YTD = $351M
  • $/unit Feb 19 YTD = $186K is a 10% INCREASE over Feb 18 YTD = $169K.
  • $/SqFt Feb 19 YTD = $217.85 is a 12% DECREASE over Feb 18 YTD = $248.28
  • CapRate Feb 19 YTD = 5.54% is a 3.5% INCREASE over Feb 18 YTD = 5.35%

The big jump in $/unit is 3 large sales = 69% of ttal gross sales.

Biggest item is the effect of the newest OR rent control law passed by the Legislature.  City of Portland rules are also giving pause to owners.  Interest rates (stable to flat) and strength of the rental market in Portland (especially for new construction) are the biggest threats/motivators.

I should have a 2013-2018 Portland Apartment Market History by mid-Apr 19.  If you like numbers, you’ll find this recap of the market for the past 5 years of interest.  You can eMail me for a copy also.

– Free financial analysis of your property, eMail/call me for a SAMPLE report.  It will be helpful if you’re making decisions about futures or operations and includes I&E comparison to neighboring properties along with recent sales and rent comparables.

Steve Morris | Vice-President
IMG Northwest
1234 SW 18th, Suite 102
Portland, OR 97205
Phone: 503.970.4593 
steve@imgnorthwest.com | www.imgnorthwest.com
OR License # 200202054 | WA License # 24512

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