Condominium sales picking up

Condo sales in Downtown Portland seem to be picking up. In the first quarter of this year we saw only 73 unit sales close escrow. This is a very low number, about the lowest number of sales we've seen in over five years.

However; good news seems to be coming forth. In the past 30 days, there have been 47 new "pendings". These are accepted offers now in the escrow process. This is one of several pieces of positive news which will create a higher level of optimism about our local housing market.

On another bit of news, a local title company reports that 31% of downtown condo sales this year involved all cash transactions.