Buying, selling and operating apartments in Portland

August 2016 – Portland Apartment Sales

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

<<<portland_aug16vsaug15_aptsales>>>

Highlights:

  • CapRates reported are still in the mid-high 5% compared to 2015 in the high 5% range. 
  • $/unit Aug 16 YTD is a 7.9% increase over Aug 15 YTD.
  • $/SqFt Aug 16 YTD  is a 5.6% increase over Aug 15 YTD.
  • Aug  2016 YTD sales = $1283M vs. Aug 2015 YTD sales of $1423M

We’re still behind 2015 YTD sales numbers.  However, Aug 16 was greater than Aug 15 for monthly sales.

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 2015.

Interest rates may show a slight increase by EOY.  However, this is the Fed giving itself more wiggle-room than an over-heated economy.

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

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. 

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Portland Apartment Sales – April 2016

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

<<<Portland_Apr16vsApr15_AptSales>>>

Highlights:

  • CapRates reported are still in the mid-high 5% compared to 2015 in the low 6% range. 
  • $/unit April 16 YTD is a 15.2% increase over April 15 YTD.
  • $/SqFt April 16 YTD  is a 14.5% increase over April 15 YTD.
  • April 2016 YTD sales = $674M vs. April 2015 YTD sales of $576M

Rent/Tenant environment – Class A units in close-in locations (especially new construction) are starting to give concessions.   We continuously monitor, but be aware that rent growth may be flattening.

Apartment pricing –  This will be driven by income growth and interest rates.  Based on 2015YTD vs. 2016 YTD we are not seeing the same rate of increase as 2015 vs. 2014.

City of Portland Landlord Training – This is a regular training and very useful, especially with landlord law.   We are in process of getting PDFs of the May 16 presentation and will post these and send out a blog notice with a link.  If you’d like an earlier copy, eMail me.

YOUR PROPERTY – If you’d like a further breakdown on how in-demand your neighborhood is call.  Be aware of the current value of your apartment with unsolicited offers.  We offer valuations that include expense analysis with rent and sales comparables to back up any pricing.

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

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. 


Oct 2015 Apt Sales Portland-Metro

3 December 2015
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For detail on individual sales, please download the PDF at:

<<<Oct15vsOct14Sales>>>

(Right-click link and Save As)

Oct 2015 had $210M in sales in the 4 (OR – Washington, Clackamas and Multnomah and WA – Clark) counties.  This is a 8.4% decrease from Oct 2014 ($230M).

It is official, in terms of total sales dollars, 2015 is highest year ever.  Oct 15 YTD at $2B has easily surpassed 2014 FY sales of $1.6B

Oct 2015 had $210M in total sales.  Highlights:

  • CapRates reported are still in the mid 5% compared to 2014 in the low 6% range. 

  • $/sqft and $/unit. $/unit Oct 15 YTD is a 13% increase over Oct 14 YTD. $/SqFt Oct 15 YTD  is a 17% increase over Oct 14 YTD.

  • Projected FY 2015 sales = $2.35B vs. 2014 sales of $1.6B (previous best ever year)

Interest rate environment – Probabilities favor an increase by the Fed by EOY.  Then again, stop me if you’ve heard this one before.

Portland backlash – City of Portland enacted a 90-day notice rule for rent increases >5%.

YOUR PROPERTY – If you’d like a further breakdown on how in-demand your neighborhood is call.  Be aware of the current value of your apartment with unsolicited offers.  We offer valuations that include expense analysis with rent and sales comparables to back up any pricing.

If you’d like more information on:

– Details/background on individual sales in the report or

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

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. 


Sept 2015 – Apartment Sales in Portland Metro >$450K

29 October 2015
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For detail on individual sales, please download the PDF at:

<<<Sept15vsSept14_PortlandAptSales>>>

(Right-click link and Save As)

Sept 2015 had $261M in sales in the 4 (OR – Washington, Clackamas and Multnomah and WA – Clark) counties.  This is a 344% increase from Sept 2014.

It is official, in terms of total sales dollars, 2015 is highest year ever.  Sept 15 YTD at $1.68B easily surpassed 2014 FY sales of $1.6B

Comments on some key indicators:

  • Sept 2015 had $261M in total sales.  Largest month ever.
  • CapRates reported are still in the high 5% range overall similar to 2014.  However, CapRates suffer from reporting bias and are not as objective as other measures.
  • $/sqft and $/unit.  Sept 15 YTD $/unit shows a 8.5% increase over Sept 14 YTD. Sept 15 YTD $/SqFt show a 12.2% increase over Sept 14 YTD.
  • Projected FY 2015 sales = $2.3B vs. 2014 sales of $1.6B (previous best ever year)

Interest rate environment – The threatened Sept rate increase failed to materialize due to perceived weakness globally.  However, probabilities favor an increase by the Fed by EOY.  Then again, stop me if you’ve heard this one before.

Portland backlash – City of Portland enacted a 90-day notice rule for rent increases >5%.  Bluestone & Hockley will have a presentation on this (19 Nov) for the public with an invite in their office in SW Portland.  If you’re interested in attending, contact me.

YOUR PROPERTY – If you’d like a further breakdown on how in-demand your neighborhood is call.  Be aware of the current value of your apartment with unsolicited offers.  We offer valuations that include expense analysis with rent and sales comparables to back up any pricing.

If you’d like more information on:

– Details/background on individual sales in the report or

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

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. 


Portland Apartment Sales for August 2015 >$450K

1 October 2015
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For detail on individual sales, please download the PDF at:

<<<Portland Apartments Aug15 vs Aug14 Sales>>>

(Right-click link and Save As)

August 2015 had $168M in sales in the 4 (OR – Washington, Clackamas and Multnomah and WA – Clark) counties.  This is a 55% decrease from August 2014.

Comments on some key indicators:

  • Aug 2015 is the first month in 2015 with lower total monthly sales than the same month in 2014.
  • CapRates reported are still in the high 5% range overall similar to 2014.  However, CapRates suffer from reporting bias and are not as objective as other measures.
  • $/sqft and $/unit are a more objective measure.  Aug 15 YTD $/unit show a 9.3% increase over Aug 14 YTD.  Aug 15 YTD $/SqFt show a 13.7% increase over Aug 14 YTD.
  • Projected FY 2015 sales = $2.15B vs. 2014 sales of $1.6B (previous best ever year)

Interest rate environment – The threatened Sept rate increase failed to materialize due to perceived weakness globally.  However, probabilities favor an increase by the Fed by EOY.  Then again, stop me if you’ve heard this one before.

YOUR PROPERTY – If you’d like a further breakdown on how in-demand your neighborhood is call.  Be aware of the current value of your apartment with unsolicited offers.  We offer valuations that include expense analysis with rent and sales comparables to back up any pricing.

If you’d like more information on:

– Details/background on individual sales in the report or

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

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. 


Portland Apartment Sales >$450K in May 2015

26 June 2015
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<<<May15vsMay14_PortlandAptSales>>>

RIGHT-CLICK ABOVE LINK (and SAVE LINK AS) TO DOWNLOAD THE DETAILED REPORT

Attached is a list of individual Portland-area sales of apartment complexes greater than $450,000 in May 2015.

Included are $/unit, $/sqft , unit count, year built and Cap Rate (as reported) and a comparison to May 2014 averages.

May 15 had a huge increase in sales over May 14.  May 15 had 20 sales for a $60M total vs 12 sales in May 14 for a $15.6M total.  YTD shows about a 86% increase over 2014 YTD sales in terms of dollar volume.

May 15 had ONE large (>100 units) sales and May 14 had ZERO large sales.

Total apt sales in 2014 were $1.5B.  2015 is forecast, as of today, at about $1.55B.  2014 had the majority of sales from June thru EOY.

Be aware of the current value of your apartment with unsolicited offers.  We offer valuations that include expense analysis with rent and sales comparables to back up any pricing.

If you’d like more information on:

– Details/background on individual sales in the report or

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

Please contact me:

Steve Morris – Senior Advisor Multi-Units
Sperry Van Ness – Bluestone & Hockley
steve.morris@svn.com  / (503) 970-4593

OR Principal Broker License 2002002054 / WA Managing Broker License 24512