The downtown Portland area is expanding and growing at a rapid rate. New condominium buildings are being constructed and older warehouses are being converted to loft style apartments and condos. This naturally draws a more condos centric crowd and with the addition of trendy coffee shops, hipster bookstores, nightly entertainment and all modern commerce within a couple of blocks, more people are looking to the downtown area as a source for living/working and playing.
The magic number seems to be around $300,000, especially for first-time home buyers. At the publishing of this blog post there were 56 properties between $250,000 and $350,000 in the downtown Portland area. This includes everywhere from the Northeast and to the southwest and then everywhere in between.
Prices might be rising but it is still not impossible to find a great apartment or condominium for less than $300,000. Starting at the bottom of the list are small homes and condominiums around $250,000 mark but then, once you jump up into about $265,000 you start to get into the condominiums. These are smaller complexes of less than 40 units and could be in complexes of less than 10 stories.
One condo really stands out right on the waterfront adjacent to the Pearl District in downtown Portland offering a one level, one bedroom and one bath with nearly 700 ft.² for $265,000. This is a great location and the building amenities include a swimming pool, hot tub and barbecue pits.
High-rise condominiums really don't hit until you're over the $300,000 mark. Close to the Portland's Art & Cultural district just minutes to South Park, farmers market in the waterfront is a two bedroom and two bath condominium with nearly 1000 ft.² priced at $319,000.
From there, upwards of $340,000 seems to be the magical starting number for high-end, high rise condominiums. Located at 2245 Southwest Park Pl. is a beautiful two bedroom and two bath condominium with open floor plan and beautiful views with over 1000 ft.² priced at $338,000.
At the top of the list in this price range is a gorgeous two-bedroom condominium in South downtown at 111 Southwest Harrison St. for $349,900. Beautiful views, lovely layouts and lots of amenities are to be found the higher you go up however, your homeowners dues will also increase. For instance, on this particular property homeowners dues are almost $500 per month, so you'll need to add that into your monthly housing costs.
There are some beautiful condominiums, two and three unit condos and several studio loft apartments for sale under the $300,000 mark. But, prices are rising rapidly, especially for condominium buildings that provide easy walking distance to just about everything you would need. Please feel free to search all available condos on my website or contact me for a customized list of properties that meet your search criteria and prize in the right neighborhood for you.
Image by Jenny Cestnik Flickr