Portland’s Bank Owned Luxury Homes
More than 800 luxury homes (+500k) sold in the city of Portland last year. That’s a little over 10% of the entire market. Since hitting somewhat of an all-time low in 2009 (less than 700 sales) luxury home sales in Portland have been trending upward and have included some hard-to-move and/or unique inventory, such as a 3,000 sq. ft penthouse at the Metropolitan Condos in the Pearl District that sold for $2.7 million (Details) or this contemporary 3-bedroom home in Portland heights that found a buyer at $2.5 million (Details).
Although Portland has seen a fair share of foreclosures, bank-owned luxury homes have remained few and far between. Here’s a look at what’s currently available in the +500k category throughout the city of Portland. Prices have been reduced significantly for some of these luxury homes. The top spot goes to a 16,000 sq. ft home that sold in mid 2007 for $2.95 million. In 2009 the owner defaulted, now the bank has it listed at $1.7 million.
Bank Owned Luxury Homes in Portland, OR*
This list does not include luxury homes for sale in Lake Oswego, West Linn and other areas outside the city of Portland.
