Sellwood feels much less "hipster" and "chic" than say, Mississippi Ave, Alberta Arts or the Pearl-- but a definite, at ease kind of 'anything goes, all are welcome' type of feeling is present on these streets.  Like most Portland neighborhoods, Sellwood and Moreland neighborhoods feel very self-sustaining.  Local grocery store New Seasons, many local coffee shops plus a few local coffee roasters make this community feel warm and a lot like its own small town.  Walking the streets in Sellwood and Moreland neighborhoods invokes a "back in the good old days" feeling.  This area is family friendly, walkable, and livable with a strong sense of community pride. 

The Moreland neighborhood of Portland is divided into Eastmoreland and Westmoreland.  Splitting hairs?  Not according to the neighbors.  Ask them, and they’ll say that Eastmoreland is the kind of place where other people mow your lawn.  In Westmoreland, they do their own.  Yard work aside, it’s certainly evident that the activity of the area – the hustle, bustle, and commerce – belongs entirely to Westmoreland.  In the size reserved for just one of those well manicured lawns surrounding an Eastmoreland mansion, four businesses could fit in Westmoreland.  Each has their charm.  But as the seat of the neighborhood’s retail trade, Westmoreland’s landscape is far more conducive to a verbal tour.  We'll cover Westmoreland on this neighborhood page as part of the "Sellwood-Moreland" neighborhood, since that is how it is classified by the City of Portland.  To learn more, click here.

Are you keeping an eye on Sellwood or is it your neighborhood?  Check out this link for a monthly updating real estate chart for this neighborhood.

In my monthly Portland real estate report, I always talk about how each individual neighborhood is a micro-market. If you are looking to buy or sell in a particular neighborhood, the most crucial information that you need to know is what is going on in that neighborhood. In this situation, the overall Portland market report is less important and the national real estate report is just about useless. This posting is a real estate report for the Sellwood neighborhood of all homes in all price ranges. Feel free to request particular neighborhoods in which you are interested in buying or selling and I am be happy to do a report, just contact me on this forum or at http://www.propertiesofportland.com.

If you are looking for homes in the Sellwood neighborhood, visit this link where you can search for homes by particular neighborhood: Click Here

The first thing you will notice about individual neighborhoods as compared to the overall Portland reports are that the numbers can be wildly different month to month. Basically, the bigger the pool of data you are working with, the smoother the stats become. As we focus on smaller areas, many different things can happen month to month.

On to the report:

Here is the overall chart of inventory, sold, and pending for the Sellwood neighborhood in the last 15 months:

In July 2011, there were 25 closed sales, 31 pending sales, and 128 homes on the market in the Sellwood Neighborhood.

One year change from July 2010 to July 2011:

Inventory (how many homes on the market for sale): Down 9.2%
Homes sold: Down 13.8%
Homes pending sale: Down 8.8%

Chart for average price per square footage:

In the past 15 months, the average price per square footage in the Sellwood neighborhood has been between $140 and $177/sq. ft. In July 2011, the average price per square foot in the Sellwood neighborhood was $171.

One year change from July 2010 to July 2011:

Change in Price Per Square Foot:
July 2010: 177

July 2011: 171

Percentage Change: Down 3.5%

Days on Market, 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 July 2011, the average time on market for a home in the Sellwood neighborhood was 58 days.

The second thing that this chart is showing you is what percentage of the listing price the owners actually are getting when the house is sold.  This is a great indication of the pressure on prices.  In July 2011, sellers in Sellwood received, on average, 96% of their original listing price.

More stats for you:

Change from July 2010 to July 2011:

Time on Market: Up 48.7%
Sold/List price % difference: Down 1%

Average price for sale vs. average price of sold:

 

This chart shows us what the average listing was and what the average sale was. In July  2011, the average price of a house on the market in Sellwood was $382,000. The average sale was $362,000.

More stats over one year:

Average active price: Down 5.2%
Average sold price:  Down 4.5%

Months of Inventory:

Months of inventory gives a time line of how long it would take for all of the current listings to sell.  Anything above 4 months is considered a buyers market.  This figure is a good indicator of supply and demand.  July 2011 in the Sellwood neighborhood had 5.1 months of inventory.

By the way, this does NOT mean that it will take 5.1 months for your home to sell. That figure was, on average in July, 58 days.  Inventory is a figure that means that, if not another home were to come on the market in Sellwood from this point forward, in 5.1 months there would not be another home to sell.  They would all be sold.

Visit my website where you can contact me and search all Portland Metro Area real estate and homes for sale from the RMLS, including school and neighborhood reports at : http://www.propertiesofportland.com