Pearl District Condo Market Update
The Pearl District is located in downtown Portland bordering the Willamette River to the north and the east, Goose Hollow to the south and Nob Hill to the west. Interstate 405 runs north and south to the center of this downtown area and is connected by Highway 30, which runs North to Burlington.
This is primarily the most affluent area of downtown Portland with city skyscrapers and condominium and hotel high-rises. This former warehouse and industrial district has been renovated to become one of the hottest neighborhoods in Portland. There are upscale lofts, townhouses and luxury condominiums neighboring next to award-winning restaurants, fabulous shopping and nightlife. The neighborhood is always changing and there are unique events and festivals going on your round. With several parks including Jamison Square and the Fields Neighborhood Park, this area not only feels like the heart of Portland but provides an accurate glimpse into Portland life. Condominiums start at about $300,000 up to $8 million based on size, condition and location.
At any given time there are roughly 30 to 50 properties and condos for sale in downtown Pearl District. These condominiums feature one, two and even three bedroom floor plans ranging in size from 400 ft.² to over 2500 ft.². The average living area is about 1100 ft.² for most Pearl District condos. The average days on the market vary based on the time of year that average between 15 and 60 days from the time of offer acceptance until closing. The average list price for the Pearl District is about $400,000 with high-end luxury penthouses between $1 million and $3 million.
Loft units are between 300 ft.² and 600 ft.² and feature either a studio apartment with a one bathroom or one bedroom and one bathroom starting about $220,000. Fixer-upper condominiums are still available in the Pearl District for less than $200,000 but these gems are few and far between and usually snatched up my investors.
If you're looking for a great loft or condo in the heart of Portland, the Pearl District is definitely the place to look. Please browse all current market reports below for active properties for sale, current properties under contract and sold properties within the last three months in the Pearl District. If you'd like to view any of the condos up close and personal please contact my office to schedule a showing.