SALES STRONG IN 2016

In my 2016 Portland Apartment Market Year in Review, I discussed the sales transactions for the year.  As you can see in the chart above, sales in Portland were strong with 257 multi-family transactions.  That is down from the year before, but still way above previous years.

Sales volume was WAY up, due in part to a few very large transactions (notably the $127 million dollar Burnside project).  This indicates prices are higher (since transactions were lower), no surprise there.

What does this all mean?  The strong transactions combined with primarily local buyers (except for larger transactions of above 100 units) indicate to me that Portland has a local, balanced market.