Portland Home Prices Amidst the Coronavirus Pandemic

Recent conversations with west coast realtors, investors and appraisers shed some light on how the Coronavirus Pandemic in Oregon has will predictably affect the housing markets, home values over the next 6 months to a year.
Zillow Home Values for Portland, OR shows “The median home value in Portland is $467,621. Portland home values have gone up 0.6% over the past year and Zillow predicts they will fall -0.4% within the next year.”
The Zillow shows also the housing market temperature to be ‘Neutral’. That home pricing projection, which does carry some weight and our on location, real time discussions with real estate proffesionals here on the ground in Portland, we believe there’s room for more optimism.
“The next few months, few weeks really, will determine how far these flat numbers will stick with us.” ~Nathan Bernhardt of Bernhardt SwissTrust Appraisal
There’s a lot of ‘wait and see in all of this’. However, if we can take anything from history on these types of global pandemics in the City of Roses, the Portland people came together, making good decisions and made it through as best we could.
We will again do the same thing here in this Coronavirus Pandemic. So, the turnaround timeline is a little hazey, though it will undoubtedly happen by the end of the year.
Fear of Coronavirus is Bigger than Coronavirus

Fear of Coronavirus is Bigger than Coronavirus

This is always the case in major negative events. With proper safety precautions, gloves, masks, and careful procedure, life can go on.

Bernhardt SwissTrust Appraisal takes Coronavirus COVID-19 Seriously.

As an appraisal company, heavily invested in real estate markets, we are anti-fear, pro-safety. We want life to go on, and this includes appraisals. Our workforce is well prepared with the technology and tools required to operate as usual during this time.

We take the safety of our colleagues, their families, and our communities very seriously, and want to ensure that we’re doing our part to help stop the spread of Coronavirus. And with the news continuing to evolve with COVID-19 we continue to adjust to the necessary steps everyone is taking to help prevent the spread of this devastating virus.

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We’re all focused on doing our part during this challenging situation. We will continue to post relevant and useful information on our website blogroll and several of our external external social channels.


Nathan Bernhardt