Back in 2017 - Oregon was on top too! "Oregon ranked second in the country in 2017 as a destination for people who moved into a new state, according to tracking statistics released by moving company United Van Lines."
But now, Portland has ranked among the nation's top moving destinations, which really isn't any surprise to us Portlandians. According to Updater, a moving app that ranked the top 15 moving destinations of 2018, Portland came in at #12. The top five moving destinations in the Portland area include the Pearl District, Hillsboro, Beaverton, Vancouver, and downtown Portland.
Americans migrate to the states in the New England area, the southeast, and the West Coast primarily. Outbound migration is distributed across the states for multiple regions and Updater analyzed over 1 million anonymous households. More people were moving out of California, Alaska, New York, and a couple of Southern states where most people are moving into Washington Oregon, Idaho, and some of the Southeastern states. The entire state of Oregon got the top 10 inbound states for migration.
But how is this affecting real estate?
The median sales price in Portland is about $417,000 with the median rent at $2000. We've seen this number gradually increase with a huge spike around March and April of this year. However, going into the fall and winter season we are seeing the market cool off just a little bit. There's not as many bidding wars and know all cash offers from developers, which gives a lot of hope for first-time homebuyers. There might be a couple of multiple offer situations on a below market priced house, but most people are marketing at the correct price right now, so buyers and sellers are both satisfied.
If you're considering moving to Portland, give our office a call. Our team specializes in helping folks buy and sell homes and condominiums throughout the Portland Metro area including parts of Vancouver Washington and South into Tualatin and Tigard.