The Portland real estate market is poised to accelerate into the spring selling season. January and February brought a slight uptick in residential inventory from the end of December, 2017. Our inventory dropped back down to 1.6 months by the end of March, up from the same time last year. The median sale price for a Portland-area home was $395,000 in March, 2018. This is 6.8% higher than a year ago. Houses are also moving just a little faster, with the median number of days on the market dropping to 55 – 5% lower than a year ago.
I expect to see more houses listed for sale in the coming months, typical for the spring month. I also expect the number of active buyers will increase, maintaining pressure on inventory levels and prices generally. For more information about your current neighborhood market, the market in the neighborhood where you’d like to move, or any of your real estate needs, please do not hesitate to contact me at Jon@JonCohenRealty.com or 503-497-2980, and look for your neighborhood information on my website – JonCohenRealty.com.
The new Portland residential speed limit is in effect as of April 1st. According to the Portland Bureau of Transportation, the 20 mph residential speed limit applies to “streets that do not have center line markings.” The “20 Is Plenty” campaign is part of the City’s Vision Zero initiative to eliminate traffic deaths and serious injuries. You can find more specific information about the City of Portland traffic safety campaign on the Portland Bureau of Transportation website. So, borrowing that famous line from Hill Street Blues and the late Steven Bochco, “Let’s be careful out there.”
The Multnomah County Courthouse is not for sale – yet! However, as I reinstate my real estate blog, something from my days as a lawyer is crossing into my real estate world.
Later this month I will have the honor and the duty to fulfill my civic responsibility to appear for jury duty, and hopefully be chosen to sit on a jury. While this statement may trigger memories of the creative excuses you manufactured to avoid jury duty, or the times you cringed at the thought of spending any part of a day, or several days, listening to lawyers, witnesses and judges, I’m still looking forward to the opportunity to serve on a jury for the first time.
By now, you are probably wondering why this real estate broker is writing a blog post about jury duty, and why is he using words like “honor,” “duty,” “responsibility,” and “opportunity.” I’ll explain.
Almost 35 years ago, not long after I graduated from college, I received a notice from the Boulder County, Colorado Court calling me in for jury duty. As a soon-to-be law student, I was excited about the possibility of serving as a juror. During the jury selection process, one of the lawyers asked if I was employed and where I worked. I told him that I was employed at the Denver law firm of Fairfield and Woods as an office clerk. The lawyer turned and spoke briefly with the judge, and the judge then informed me that I was excused.
The next time I was called for jury duty was in Portland, after I completed law school and began working as a lawyer. The story line didn’t change much over the years. The Court called me for jury duty, I appeared as requested, and, if called to a courtroom for jury selection, one of the lawyers summarily dismissed me because I worked as a lawyer. For so many years I’ve wanted to serve on a jury. And for so many years I’ve missed that opportunity because most lawyers prefer not to have other lawyers serve on their juries.
Now, perhaps my time has come. I’m a real estate broker now and have been for almost 14 years. Will I finally have the honor and the opportunity to experience all the responsibilities of jury duty? I’ll let you know in a couple of weeks.