Portland, Salem and Vancouver Apartment Market Issues | Buying, selling and operating apartments in Portland

Portland Apt Market Sales – April 2017

26 May 2017
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To download the individual sales report, right-click the link below and “Save As”:

<<<Portland_Apr17vsApr16_AptSales>>>

Highlights:

$/unit April 17 YTD = $168K is a 22% increase over April 16 YTD = $138K.
$/SqFt April 17 YTD = $186.76 is a 13% increase over April 16 YTD = $165.72.
April 17 YTD sales = $405M vs. April 16 YTD sales of $669M = -40%

The rental market is still strong, but owners are adjusting to the changing political climate and rule changes which will put a limiter on the increase in income (i.e. rents).

I’ve posted a 5 year (2011-2016) Portland apartment sales history on this site. I sort sales by:

County
Neighborhood
Complex Size
Decade Built
Largest sales per county by total sale, $/SqFt and $/Unit

If you’d like more information on:

– Details/background on individual sales in the report or a breakdown by neighborhood

– Free copy of our 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis

– A very useful financial analysis of your property, call. It will include I&E comparison to neighboring properties along with recent sales and rent comparables.

Please contact me:

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

For the Oregon Real Estate Agency Pamphlet click here.
For the Washington Real Estate Agency Pamphlet click here.

Posted in Apartment Selling, Portland, Portland, Salem and Vancouver Apartment Market Issues
Tags: History, portland, sales, transactions

Portland Apt Sales – March 17

28 April 2017
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To download the individual sales report, right-click the link below and “Save As”:

<<<Portland_Mar17vsMar16_AptSales>>>

Highlights:

$/unit March 17 YTD is a 28% increase over March 16 YTD.
$/SqFt March 17 YTD is a 27% increase over March 16 YTD.
March 17 YTD sales = $382M vs. March 16 YTD sales of $571M = -33%

2017 is off to a slow start in terms of gross sales dollars at $376M (vs. $571M 2016 YTD). The rental market is still relatively strong, but owners are adjusting to the changing political climate and rule changes.

If you have a day, City of Portland gives a very useful annual class. I’ve included topics, class times and sign-up info here:

https://portlandapartmentsales.com/2017/04/21/city-of-portland-landlord-training-spring-2017/

I’ve posted a 5 year (2011-2016) Portland apartment sales history on this site. I sort sales by:

County
Neighborhood
Complex Size
Decade Built
Largest sales per county by total sale, $/SqFt and $/Unit

If you’d like more information on:

– Details/background on individual sales in the report or a breakdown by neighborhood

– Free copy of our 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis

– A very useful financial analysis of your property, call. It will include I&E comparison to neighboring properties along with recent sales and rent comparables.

Please contact me:

For the Oregon Real Estate Agency Pamphlet click here.
For the Washington Real Estate Agency Pamphlet click here.

Posted in Apartment Buying, Apartment Selling, Portland, Portland, Salem and Vancouver Apartment Market Issues
Tags: portland, sales, transactions

City of Portland Landlord Training – Spring 2017

21 April 2017
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I apologize for the short notice, but this is a very good training for anyone that runs properties in the Portland area. It is all day, however, very well worth it since it’ll go over rules that are in effect today.

Unfortunately, due to the changing landscape rule changes will be a way of life for landlords anywhere.

To apply go to:

http://www.PortlandOregon.gov/BDS/LandlordTraining

I’ve attached a list of topics and app form for download:

CoP_LandlordTraining_Topics_Spring17

CoP_LandlordTraining_Application_Spring17

For the Oregon Real Estate Agency Pamphlet click here.
For the Washington Real Estate Agency Pamphlet click here.

Posted in Apartment Operations, Apartments - Other Topics, Portland, Portland, Salem and Vancouver Apartment Market Issues
Tags: portland

Feb 17 – Portland Multi-Unit Sales

30 March 2017
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To download the individual sales report, right-click the link below and “Save As”:

<<<Portland_Feb17vsFeb16_AptSales>>>

Highlights:

$/unit Feb 17 YTD is a 35% increase over Feb 16 YTD.
$/SqFt Feb 17 YTD is a 42% increase over Feb 16 YTD.
Feb 17 YTD sales = $302M vs. Feb 16 YTD sales of $333M

2017 is off to a slow start in terms of gross sales dollars. Be aware $131M of $209M in sales for Feb 17 is from one portfolio (i.e. same buyer and seller) sale with 4 of the individual sales reported in the 4 county area.

There were more larger complexes sold which skews YTD averages. The market is changing with pricing (and rents) giving signs of topping out for the near term.

I’ve posted a 5 year (2011-2016) Portland apartment sales history on this site. I sort sales by:

County
Neighborhood
Complex Size
Decade Built
Largest sales per county by total sale, $/SqFt and $/Unit

Interest rates – The threat of small increases remains, however, with lower unemployment we haven’t seen the wage and general inflation that drives large increases.

If you’d like more information on:

– Details/background on individual sales in the report or a breakdown by neighborhood

– Free copy of our 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis

– A very useful financial analysis of your property, call. It will include I&E comparison to neighboring properties along with recent sales and rent comparables.

Please contact me:

For the Oregon Real Estate Agency Pamphlet click here.
For the Washington Real Estate Agency Pamphlet click here.

Posted in Apartment Buying, Apartment Selling, Portland, Portland, Salem and Vancouver Apartment Market Issues
Tags: portland, sales, transactions

Portland Apt Market Sales 5 year History (2011-2016)

16 March 2017
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Attached is the 5 year (2011-2016) Portland Apartment Market Summary:

<<<<<< IMGNW_2016-2011_PortlandApartmentHistory_March2017 >>>>

Right-click to download the report. It includes 2016 stats and 2011-2016 history of:

2016 Operating Dynamics Trends

2011-2016 5 year history overview

2016 and 2011-2016 New construction overview

2016 Sales By County

2016 and 2011-2016 Sales By Neighborhood ($/unit, $/SqFt and reported CapRate).

2016 and 2011-2016 Sales By Complex Size (<100 units vs. 100+ units)

2016 and 2011-2016 Sales By Decade Built

2016 and 2011-2016 Largest Sales by Gross $ and $/unit

2016 and 2011-2016 Largest Sales by County

If you’d like more information on:

– Details/background on individual sales in the report or a breakdown by neighborhood

– Free copy of our 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis

– A very useful financial analysis of your property, call. It will include I&E comparison to neighboring properties along with recent sales and rent comparables.

Please contact me:

For the Oregon Real Estate Agency Pamphlet click here.
For the Washington Real Estate Agency Pamphlet click here.

Posted in Apartment Buying, Apartment Selling, Apartments - Other Topics, Portland, Portland, Salem and Vancouver Apartment Market Issues
Tags: History, invest, portland, sales, transactions

Jan 17 Portland METRO Apt Sales- Jan 17

3 March 2017
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To download the individual sales report, right-click the link below and “Save As”:

<<<portland_jan17vsjan16_aptsales>>>

Highlights:

CapRates reported are still in the low 5% compared to 2016 in the mid 5% range.
$/unit Jan 17 YTD is a 70% increase over Jan 16 YTD.
$/SqFt Jan 17 YTD is a 71% increase over Jan 16 YTD.
Jan 17 YTD sales = $72M vs. Jan 16 YTD sales of $158M

Jan 17 got off to a slow start, however, it followed a huge month in Dec 16. The market does seem to be changing with pricing (and rents) giving signs of topping out for the near term.

I’ll be posting a 5 year (2011-2016) Portland apartment sales history by mid-March, but if you’d like an earlier copy, eMail me. I sort sales by:

County
Neighborhood
Complex Size
Decade Built
Largest sales per county by total sale, $/SqFt and $/Unit

Interest rates – The threat of small increases remains, however, with lower unemployment we haven’t seen the wage and general inflation that drives increases so far.

If you’d like more information on:

– Details/background on individual sales in the report or a breakdown by neighborhood

– Free copy of our 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis

– A very useful financial analysis of your property, call. It will include I&E comparison to neighboring properties along with recent sales and rent comparables.

Please contact me:

For the Oregon Real Estate Agency Pamphlet click here.
For the Washington Real Estate Agency Pamphlet click here.

Posted in Apartment Buying, Apartment Selling, Portland, Portland, Salem and Vancouver Apartment Market Issues
Tags: portland, Washington

Dec 16 + FY – Portland Apt Sales

26 January 2017
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To download the individual sales report, right-click the link below and “Save As”:

<<<portland_dec16vsdec15_aptsales>>>

Highlights:

CapRates reported are still in the mid 5% compared to 2015 in the high 5% range.
$/unit Dec 16 YTD is a 15.6% increase over Dec 15 YTD.
$/SqFt Dec 16 YTD is a 10.6% increase over Dec 15 YTD.
Dec 2016 YTD sales = $2922M vs. Dec 2015 YTD sales of $2360M

We are 24% over 2015 Full Year gross sales which is much higher than I would’ve projected in Sept 16. 50% of 2016’s gross dollar sales happened in Oct, Nov and Dec 16.

Dec 16 would’ve been a good year not that long ago (in 2010 to be specific.)

I’ll be posting a 5 year (2011-2016) Portland apartment sales history by mid-Feb, but if you’d like an earlier copy, eMail me. I sort sales by:

County
Neighborhood
Complex Size
Decade Built
Largest sales per county by total sale, $/SqFt and $/Unit

Interest rates have jumped. My conjecture is there’s a sense of impending rate increases driving a burst of large transactions in Oct-Dec 16. Dec 16 had $668M in transactions (vs. $260M in Dec 15).

If you’d like more information on:

– Details/background on individual sales in the report or a breakdown by neighborhood

– Free copy of our 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis

– A very useful financial analysis of your property, call. It will include I&E comparison to neighboring properties along with recent sales and rent comparables.

Please contact me:

For the Oregon Real Estate Agency Pamphlet click here.
For the Washington Real Estate Agency Pamphlet click here.

Posted in Apartment Buying, Apartment Selling, Portland, Portland, Salem and Vancouver Apartment Market Issues
Tags: financials, invest, portland, rates, transactions

Portland Apt Sales – Nov 16

29 December 2016
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To download the individual sales report, right-click the link below and “Save As”:

<<<portland_nov16_aptsales>>>

Highlights:

CapRates reported are still in the mid 5% compared to 2015 in the low 5% range.
$/unit Nov 16 YTD is a 12.7% increase over Nov 15 YTD.
$/SqFt Nov 16 YTD is a 9.5% increase over NOv 15 YTD.
Nov 2016 YTD sales = $2254M vs. Nov 2015 YTD sales of $2072M

We should be about 15%-20% over 2015 Full Year gross sales which is much higher than I would’ve projected in Sept 16.

Interest rates have jumped. My conjecture is there’s a sense of impending rate increases driving a burst of large transactions in Oct-Dec 16. Nov 16 had $434M in transactions (vs. $60M in Nov 15).

If you’d like more information on:

– Details/background on individual sales in the report or a breakdown by neighborhood

– Free copy of our 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis

– A very useful financial analysis of your property, call. It will include I&E comparison to neighboring properties along with recent sales and rent comparables.

Please contact me:

For the Oregon Real Estate Agency Pamphlet click here.
For the Washington Real Estate Agency Pamphlet click here.

Posted in Apartment Buying, Apartment Selling, Portland, Portland, Salem and Vancouver Apartment Market Issues

Oct 16 – Portland Apartment Sales

4 December 2016
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To download the individual sales report, right-click the link below and “Save As”:

<<<portland_oct16vsoct15_aptsales>>>

Highlights:

CapRates reported are still in the mid 5% compared to 2015 in the high 5% range.
$/unit Oct 16 YTD is a 10.0% increase over Oct 15 YTD.
$/SqFt Oct 16 YTD is a 8.3% increase over Oct 15 YTD.
Oct 2016 YTD sales = $1736M vs. Oct 2015 YTD sales of $1998M

We’re still behind 2015 YTD sales numbers, however, we should be about even with 2015 FullYear gross sales due to a couple of large sales in November.

There is a noticeable slow-down in SFR sales in Portland. We anticipate multi-units will reflect this with pricing and rent pressure moderating compared to 2016 YTD.

Interest rates have jumped. Depending on the extent, this may put pressure on pricing. In any case, for underwriting assume (as of today), loan rates in the mid 4% range (up from low 4% range).

If you’d like more information on:

– Details/background on individual sales in the report or a breakdown by neighborhood

– Free copy of our 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis

– A very useful financial analysis of your property, call. It will include I&E comparison to neighboring properties along recent sales and rent comparables.

Please contact me:

For the Oregon Real Estate Agency Pamphlet click here.
For the Washington Real Estate Agency Pamphlet click here.

Posted in Apartment Buying, Apartment Selling, Portland, Portland, Salem and Vancouver Apartment Market Issues
Tags: financials, portland, transactions

Sept 16 – Portland Area Apt Sales

27 October 2016
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To download the individual sales report, right-click the link below and “Save As”:

<<<portland_sep16vssep15_aptsales>>>

Highlights:

CapRates reported are still in the mid 5% compared to 2015 in the high 5% range.
$/unit Sept 16 YTD is a 8.8% increase over Sept 15 YTD.
$/SqFt Sept 16 YTD is a 7.6% increase over Sept 15 YTD.
Sept 2016 YTD sales = $1459M vs. Sept 2015 YTD sales of $1784M

We’re still behind 2015 YTD sales numbers. There will be a noticeable dropoff in gross sales dollars for 2016 vs. 2015. This is mainly due to a reduction in the >100 unit complex sales. Here’s a history of ratio of >99 unit / <100 unit sales:

gte100

There is a noticeable slow-down in SFR sales in Portland. We anticipate that multi-units will reflect this with pricing and rent pressure moderating compared to 2016YTD.

Interest rates may show a slight increase by EOY. This may be one more chilling effect on the market.

If you’d like more information on:

– Details/background on individual sales in the report or a breakdown by neighborhood

– A Free copy of our 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis

– A very useful financial analysis of your property, call me. It includes I&E comparison to similar properties, sales and rent comps.

Please contact me:

Steve Morris | Senior Advisor
Sperry Van Ness | Bluestone & Hockley
9320 SW Barbur Blvd, Suite 300
Portland, OR 97219
Phone: 503.970-4593 | Fax: 503.222.6459
steve.morris@svn.com | www.svnbluestone.com
OR License # 200202054 | WA License # 24512

All Sperry Van Ness^®Offices Independently Owned and Operated

For the Oregon Real Estate Agency Pamphlet click here.
For the Washington Real Estate Agency Pamphlet click here.

Posted in Apartment Buying, Apartment Selling, Portland, Portland, Salem and Vancouver Apartment Market Issues

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