Real Estate in Corbett-Lair Hill & Portland’s South Waterfront: 2010 Results
Corbett-Lair Hill & the South Waterfront area of Southwest Portland had an incredible year in 2010 with sold homes a whopping 51% over 2009!!
- 200% Increase in first time home-buyer price range under $300k +43 homes sold over 2009.
- Having the John Ross condos and other bank owned property’s list and sell contributed in an an unreal way to the surge in sales.
- The next big stack was between $400k-$600k which is in line with what I’m seeing. This next level of listings and sales is a new trend which I hope continues into 2011.
- The market analyzer below shows the regular seasonal listing curve–peaking in the summer and dropping off towards the end of the year, but check out the closed sales–consistent through the whole year. One of the few neighborhoods that experienced that in 2010.
- Supply & demand topped off in June with the expiration of the tax credit.
- More than other neighborhoods, Corbett-Lair Hill had several months where closed sale prices dipped -18% under the most recent list price. Bank Owned properties & auctioned listings had great impact here.
- View Home Sales in SW Portland combined stats for all neighborhoods.
Going into 2011, depending on the number of bank owned condos and homes remaining & B homes for sale in Corbett-Lair Hill, we could have a repeat of 2o10 stats.B Here’s to 2011!