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 – July 2016

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

<<<Portland_Jul16vsJul15_AptSales>>>

Highlights:

  • CapRates reported are still in the mid-high 5% compared to 2015 in the high 5% range. 
  • $/unit July 16 YTD is a 7.0% increase over July 15 YTD.
  • $/SqFt July 16 YTD  is a 6.8% increase over July 5 YTD.
  • July 2016 YTD sales = $1077M vs. July 2015 YTD sales of $1252M

Biggest change in YTD gross sales numbers is the drop-off in large (>100 units) sales in the market.  These usually comprise 70%-75% of total gross sales in the 4 county are, so any drop is noticeable.

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. 


Portland Apartment Sales – June 2016

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

<<<Portland_Jun16vsJun15_AptSales>>>

Highlights:

  • CapRates reported are still in the mid-high 5% compared to 2015 in the high 5% range. 
  • $/unit June 16 YTD is a 8.7% increase over June  15 YTD.
  • $/SqFt June  16 YTD  is a 95.5% increase over June  15 YTD.
  • June 2016 YTD sales = $939M vs. June 2015 YTD sales of $1026M

 

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. 


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. 


Portland Apartment Market (4 county area) Sales History 2007-2012

21 February 2014
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<<<Portland Apartment Market History_1March14>>>

RIGHT-CLICK ABOVE LINK (and save target) TO DOWNLOAD COMPLETE REPORT

Attached is a history of Portland apartment sales sorted by neighborhood from 2008 – 2013 of transactions > $450K.

The report covers the Portland Metro area – Clark (WA), Clackamas (OR), Multnomah (OR) and Washington (OR) counties

Contents Include

2008 – 2013 Portland Apartment Market History w/ Comments

2013 Portland Operating Dynamics Trends

2008 – 2013 Sales by County

2008 – 2013 Sales by Neighborhood

2008 – 2013 Sales by Complex Size

2008 – 2013 Sales by Decade Built

2008-2013 Summary by County and Totals


Portland Apartment Market (4 county area) Sales History 2007-2012

27 February 2013
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<<<Portland Apartment Market History_1March13>>>

RIGHT-CLICK ABOVE LINK (and save target) TO DOWNLOAD COMPLETE REPORT

Attached is a history of Portland apartment sales sorted by neighborhood from 2007 – 2012 of transactions > $450K.

The report covers the Portland Metro area – Clark (WA), Clackamas (OR), Multnomah (OR) and Washington (OR) counties

Contents Include

PORTLAND APARTMENT SALEs (2007-2012)

Market History

Overall Sales

Rental Demand

Sales sorted by Neighborhood

Sales sorted by Complex Size

Sales sorted by Decade Built

Sales sorted by County


Portland Apartment Market Sales By Neighborhood 2006-2011

21 March 2012
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Attached is a history of Portland apartment sales sorted by neighborhood from 2006 – 2011 of transactions greater than $450K.


Portland Apartment Market Sales 2006-2011

16 February 2012
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<<<Comments_PortlandArea_AptSales_2006-2011>>>

RIGHT-CLICK ABOVE LINK (and save target) TO DOWNLOAD COMPLETE REPORT

Attached is a chart of Portland-area (Multnomah, Washington,Clackamas,Marion and Clark (WA) counties) cumulative sales of apartment complexes > $450,000 from 2006 thru 2011.  We’ve included $/unit, $/sqft and CapRate (where reported) total and by county and a few comments. (more…)


Portland Apartment Market Sales 2006-2010

26 January 2011
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Attached is a chart of Portland-area (Multnomah, Washington,Clackamas,Marion and Clark (WA) counties) sales of apartment complexes > $450,000 from 2006 thru 2010.