The real estate market has changed so much over the past two years and continues to do so! This month we're sharing details on some of the interesting trends we are seeing for 2023. If you have any questions on these or any other real estate-related concerns, please feel free to reach out to us. We’ll be happy to help you out!
Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of January 2023. Click on the image below to see the full detailed report.
*Home inventory refers to the length of time that it would take to run out of houses to sell if we continue selling at the current rate without listing any additional homes for sale.
Most likely you have heard the terms “granny flat” and “in-law apartment”. These are examples of Accessory Dwelling Units (ADUs). These small units, either attached to your home or as a freestanding unit on your property, are great options for families who wish to have a member, such as an elderly parent, live close by. ADUs are also more affordable options for family members who are not yet in the position to own their own home.
ADUs have a kitchen, bedroom, bathroom and living area which makes them ideal as rentals. However, because they share utilities with the main home some simply use them as office space, a personal gym or a guest house.
Although the cost of an ADU can range anywhere from a few thousand dollars to much more, they can add to your home’s overall value, sometimes as much as 35%.
Different municipalities have their own specific regulations regarding ADUs. If you are interested in learning more, please let us know and we will help you get started in that process. We are here to answer any other questions you may have about real estate and help you through every step of your transactions. Please feel free to reach out to us any time!
Portland Metro News
Come here to get updates on local real estate market information, community events, and helpful tips for homeownership in the Portland, OR region.