Portland’s Most Expensive Homes
Luxury Homes Sales in Portland Up By 35%
Luxury homes in Portland are making a comeback. Sales of Portland homes in the +750k category were up by more than 35% in the second quarter of 2010 vs. the same period a year earlier. Portland is not alone. An increasing interest in million dollar homes is spreading across the nation, as the Wall Street Journal recently noted:
After a near-disastrous 2009, the luxury market appears to be making a comeback, driven by growing buyer confidence, improved financing conditions and more-realistic seller pricing. Despite the housing downturn, attractively priced homes in some of the nation’s most coveted neighborhoods are selling, sometimes fast and sometimes with multiple offers. Nationwide, sales of homes selling for $2 million to $5 million in the first quarter totaled 2,461, up 32% from a year before, says CoreLogic.
Sale Of Dunthorpe Home Sets Record For The Year at $2.7 Million
Roughly 70 homes sold for more than 750k within the city of Portland during the second quarter (not counting Lake Oswego/West Linn). Of those 70 Portland homes, only fifteen sold for more than $1 Million. Northeast Portland’s Irvington neighborhood took top spot with roughly a dozen luxury homes sales (i.e. +750k), followed by the South Waterfront (Atwater, Meriwether condos). Most of these luxury homes had been on the market for more than 100 days, with a select few selling at discounts of more than 20% over asking price.
A french country-inspired 6-bed/4.1-bath home in Dunthorpe was the first home to sell for more than $2,7 million in more than 15 months. This 6,000 SF home sold for 185k below asking price. Click here for details. (link valid until 9/2/2010).
For Sale: Portland’s Most Expensive Homes
More than 350 homes in the +750k category are currently for sale in Portland, of which 85 are condos. Portland’s most expensive homes are located exclusively on the westside of town. Click the button below to view Portland’s top ten most expensive homes for sale.
