Portland Blog: This Week in Portland April 16th - April 23rd 2011
Happy weekend, Portland and welcome to another edition of our Portland
blog. Happy Tax Weekend, Portland! The District of Columbia observes a
different calendar of holidays than the rest of the US, so it seems. Thank you,
Emancipation Day Friday for the additional weekend reprieve before we go racing
off to the post office for the April 18th deadline to file. Oh, what is
this holiday? "Emancipation Day marks the occasion when President Abraham
Lincoln signed a law ending slavery in the District of Columbia. Lincoln signed
it April 16, 1862, more than eight months before he signed the Emancipation
Proclamation, which eventually led to all slaves being freed." -Source: The
In other news...Dear Portland, we love you. Not just cuz you're good looking and friendly.
Not just cuz you have great singing voices and you're intelligent and funny.
Just because!! Go Timbers!
This Week's Top Ten in Portland
1. The Stumptown Comics Fest -
The epitome of local, indie comic art -- a creator focused comic convention. The
Who's Who of the comic world will be there. Go and be dazzled.
2. The Lucky Lab - The Super Dog IPA is sublime, your three cheese
meltdown is the yummiest sandwich ever and even though not a single table is
level or can be leveled by even the most industrious patron, you're truly
3. Higgins Restaurant - The bar in the back
drips with copper, dark wood and small pub tables reminding us of a bar
somewhere in Ireland or maybe another nearby island. The fine wine and beer
selection is excellent and the heirloom tomato salad cannot be beat. Best place
to sit and talk about the most impressive thing you saw at the Portland Art
Museum that day.
4. The Portland Cello Project - About
four years ago, I was out one night to see a string of local bands at holocene
and truth be told, I cannot remember if any other band played that night. The
set blew me away.
"Since the group's inception in late 2007, the Portland Cello Project (or,
PCP, as their fans affectionately call them), has wowed audiences all over the
country with extravagant performances, mixing genres and blurring musical lines
and perceptions wherever they go.
No two shows are alike, with a repertoire now numbering over 800 pieces of music
you wouldn't normally hear coming out of a cello. The Cello Project's stage
setup ranges from the very simple (4-6 cellos), to the all out epic (which has
included 12 cellos playing with full choirs, winds, horns, and numerous
6. The Portland Audubon Society - Definitely
one of our favorite places to go on a weekend. Visit the birds that have been
rescued and now have permanent homes at the society like Julio the Owl or peek
into the infirmary and watch as they care for local wildlife who have been hurt
and will be returned to the wild after their care. Once upon a time, I even
called them when a bird was nesting on my porch and they helped me identify the
bird. All in all, a great local society. Support the Audubon Society!
8. The Green Dragon - We fear no beer!
Dozens of beers on tap and growlers to go makes us happy campers. The Green
Dragon is nestled in lower SE pretty much exactly where you'd least expect to
find a cool pub. 928 SE 9th Ave
9.Food Carts - You cannot live
in or visit Portland without a visit to the legendary food carts and in order to
do it in style, you need a good guide. Here it is! "This site is an ode to
Portland’s food carts, and a practical guide on where to find them and what to
eat once you get there. It contains a listing of carts, a map, a search feature,
and categories by cuisine types and specific locations. It also contains photos
and menus if we can get them. "
10. Loretta Lynn and Jack White's song: Portland, Oregon
Portland...you're famous as hell, baby. Deal with it!
The Portland Photo of the Week
The Portland Photo of the Week winner this week is
Geese under the Blossoms
Nature Nut. Matt is a prolific blogger and nature lover extraordinaire. If
you're a nature lover, make sure to check out Matt's profile and read his blogs
on the Portland area.
Our Portland Photo of the Week winner gets a gift certificate to a
local Portland business of our choosing. PDX Nature Nut will receive a $20 gift
certificate to local Portland brewery, The Lucky Lab. Three cheers for
solar powered beer!
Here are the featured Portland events this week focusing
on events happening this very weekend! Thanks to everyone for adding all
the great Portland events to the community events calendar. You can add
your own Portland events directly to the events calendar
Just click "Add an Event" and fill in the details.
April 22, 2011from 6pm to 9:30pm
are meant to be shared, and Homegrown DocFest is how NW Documentary -- a 501(c)3
non-profit that practices, teaches, and shares the art of non-fiction
storytelling -- shares the students' fil…Organized
by NW Documentary | Type:theater
April 23, 2011from 10am to 7pm –Washington
High School FieldEarth
Day is a day that is intended to inspire awareness and appreciation for the
Earth's natural environment, join Portland City Repair Project, Buckman
Neighborhood Association and 100 other sustai…Organized
by ReDirect Guide | Type:festival
Looking for something else? We have a ton of other
events -- check 'em out and feel free to add your own!
Photo credit: Fasai
A Tour of the Alberta Arts neighborhood
Alberta Street, the main drag through the neighborhood, has many newly renovated
retail storefronts and restaurant space. These are mixed in with older
businesses that have been there forever, and there is a contrast in the fresh
paint and stylish logos next to boarded up windows (although there are far fewer
of those every week, it seems). The shopping area can now only be considered
trendy. The unique little shops lining Alberta Street highlight handmade local
designer clothing, paper mache' lamps, imported gifts from afar, and the Alberta
art galleries and shops showcase some fine local work. Smattered throughout are
the requisite Portland coffee houses, seemingly one for each subculture--there
are no rules in Portland about having too many coffee shops on one street, and
Alberta is no exception. You won't find a Starbucks on Alberta, though, as it
just wouldn't seem to fit into the quirky individuality of the place.
about Alberta Arts.
April 2011 Portland Oregon Real
Estate Report: What's Happening?
by Ross Seligman
They are a comparison of March 2010 - March 2011 for all of Multnomah County and
are taken directly from the RMLS. What follows is my own analysis of these
statistics. For our purposes, I thought it best to analyze Multnomah County as a
whole. Each neighborhood, however, is a little micro-universe and has its own
market. Changing the parameters of the zip codes, price variables, or time
periods can lead to very different results. This analysis is of all homes sold
in all price ranges in Multnomah County. If you have any questions about
specific zip codes, or any questions about the market in general, please reply
to this forum with those questions or feel free to contact me at: http://www.propertiesofportland.com.
Since Portland is a neighborhood city, you can now search by "Irvington,
Alberta, etc.". You can check it out by clicking here.
To see and/or bookmark a monthly automatic updating chart, clickhere.
On to the report:
Here is a chart of all homes for sale, pending for sale, and sold in Portland,
Oregon for the last 15 months:
In March 2011, inventory has remained flat with 3111 homes on the market. This
buyer's market means that sellers have to make sure they are doing all of the
steps necessary to sell their home. If you are a seller and have any questions
about this, feel free to contact me. In March 2011, 472 homes sold and 626 are
pending for sale. It is interesting to see the market ramping up for the Spring
as compared to last year. Last year at this time, people were rushing to get
the soon-to-expire tax credit. Now, the market is gaining energy on its own.
Yearly change fromMarch10
For Sale: 3515 in March 10, 3111 in March 11. Inventory is Down 11.5%
Sold homes: 647 sold in March 10, 472 sold in March 11. Sales are Down 27%.
Pending sales: 826 pending for sale in March 10, 626 pending for sale in March
11. Pending sales are Down 24.2%.
Remember, last year at this time there was a rush to get the soon-to-expire tax
credit. Now the market is moving on its own steam
Chart for average price per square footage:
In the past 15 months, the average price per square foot in Portland, Oregon has
been between $128 and $148. In March 2011, the average price per square foot in
Portland was $131.
Yearly change fromMarch
Average price per square foot in March 10 was $140. In March 11 it is $131. This
figure has dropped 6.6%.
Days on market and sold/list price %:
This chart is showing us two things. First, how many days on the market that a
home is spending, on average, before being sold. In all of Multnomah County, in
all price ranges, a home is taking, on average, 83 days to sell.
The other thing that this chart shows is what percentage of listing price the
home, on average, is selling at. This is a great indicator of pressure on
prices. In March 2011, sellers were getting, on average, 90% of their original
Yearly change fromMarch10
Average time it takes to sell a home in March 10 was 67 days. In March 11, it is
83 days. A increase of time on market of 23.9%.
The percentage of original listing price that was paid was 94% in March 10 and
is 90% in March 11.
Average price for sale vs. average price of sold:
The largest segment of home sales have been in the price range under
$400,000. You can see this reflected in the average price of a home that has
sold. In March 2011, this figure was $267,000.
Yearly change fromMarch10
The average price of a home listed in March 10 was $362,000. In March 11,
$338,000. This figure has decreased by 6.6%
The average price of a home sold in March 10 was $283,000. In March 11 it
was $267,000 This figure has decreased 5.7%.
Months of inventory:
Months of inventory gives a timeline of how long it would take for all of
the current listings to sell. Anything above 4 months is considered a buyers
market. In March 2011, this figure was 6.6 months based on closed sales.
Portland is currently, on average, a buyer's market.
This does NOT mean that it will take, on average, 6.6 months for your home
to sell. That number was 83 days. It means that, if not a single listing
were to come on the market in Portland from this moment, it would take 6.6
months for all available homes to sell before there would be none left.
Yearly change fromMarch10
The months of inventory in March 10 was 5.3 months. In March 11, it is 6.6
months. This figure has increased by 21.3%
As I have said before, none of this information matters if you have a
particular neighborhood in mind since Portland neighborhoods are their own
micro-markets. If you have one in mind to buy or are selling your home,
please request a report for that neighborhood and I am happy to post it on
this blog or send it to you.
Hey everyone, I want to know what you think of these reports. Too many
stats? Just right? Something missing? Let me know so I can make these more
useful for you. What are your thoughts about real estate right now? What do
you think of the information in this report? Post to this blog so we can
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