Buying, selling and operating apartments in Portland

Portland Apartment Sales – July 2018

31 August 2018
Leave a Comment

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

<<<Portland_July18vsJuly17_AptSales>>>

Highlights:

  • Gross sales dollars July 18 YTD = $1092M is a 44% INCREASE over July 17 YTD = $759M
  • $/unit July 18 YTD = $189K is a 13% INCREASE over July 17 YTD = $167K.
  • $/SqFt July 18 YTD = $222.62 is a 15% INCREASE over July 17 YTD = $194.15

BESIDES TWO LARGE SALES – We had a weak month vs. July 17.  Without these, we’d be at $61M gross sales for July 18.  Including all sales, we are at a run rate of $1.8B in annual sales rate (vs. $1.7B for 2017 and $2.95B for 2016).  Interest rates and strength of the rental market in Portland (especially for new construction) are the biggest threats.

The $206M sale will probably be about 11-12% of total year gross sales for 2018.

If you’d like more information on:

– 2012-2017 Portland Apt Market history.  Is posted at 

https://portlandapartmentsales.com/2018/03/22/portland-apt-market-2017-annual-report/

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.

– 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

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. 

Advertisements

Dec 16 + FY – Portland Apt Sales

26 January 2017
Leave a Comment

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:

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.