As we viewed in Part I, the values are up dramatically in Portland for apartments over the past twenty four months. That is no surprise, as rents started going up in 2013, then values followed suit in 2014 and 2015.
For the past year or so, I hear continuously from investors that there is “nothing available” on the market the buy. However, the data suggests something different, as the actual number of transactions keeps rising:
While most of the transactions are under 50 units (75%), we saw a big jump in the 51-100 unit sector from previous years (9 to 30 deals).
Volume is WAY up too thanks to some new construction:
Thanks to nearly 1.5 BILLION dollars in transactions in 100 plus unit size properties, there are over 2 billion in sales volume for the metro area in 2015, more than we have seen in quite some time!
COMING SOON: 2015 Year In Review Part III- The Salem, Oregon Market