10 Homes with the Biggest Price Drop the Past 7 Days

With record low inventory in the Portland real estate market, you might think that price drops are a thing of the past. But think again! Sellers drop their list price all the time, and for a variety of reasons. Maybe they listed too high to begin with, or maybe they just want to get the ball rolling – what you’d call a “motivated seller.” Price drops can indicate great opportunities for buyers. But who wants to spend time sifting through listings to see how prices are moving?

Luckily, we have a Vestor Filter™ that will keep track of price drops for you. Simply select the filter “Biggest Price Drop Last 7 Days.” This will show you properties listed in order of biggest to lowest price drop.

how to set an alert for price drops

Then, save your search by clicking on the heart in the upper left hand corner of the screen. This will open an option to receive alerts on your search. Whenever homes drop in price, you’ll receive an alert email at the frequency of your choice. This is the best way to stay on top of price drops in the Portland real estate market.

Now, let’s check out the 10 homes with the biggest price drops this week. For this search, we limited the list price to a maximum of $800,000. The reason being that a drop of a few thousand dollars on a 2 million dollar home isn’t the same as a drop of $50,000 on a more moderately priced home. The listings below reflect the median section of the market, where price drops mean the most.

#1 – 2809 SW Water Ave.

2809 SW WATER AVE

First up, let’s take a look at this historic cottage style home in the Southwest Waterfront. While it could likely use some updates, this is an opportunity to own a piece of Portland history. The previous owners maintained the original woodwork and lead glass windows, keeping intact the home’s period charm. And the views of downtown Portland don’t hurt either.

#2 – 14413 SE Nehalem St.

14413 SE NEHALEM ST

More in the market for a newer build? This home sits in Pleasant Valley, one of the most desirable suburban areas around Portland. The floor plan is spacious but still warm, and comes with a lot of perks – let’s take a pause to admire the gorgeous kitchen with gas range and a huge island, for example. Outside you’ll also find a well-maintained yard with a pergola-covered patio, a gorgeous stone fire pit, and a gazebo. Between the indoor space – including family/entertainment room – and the beautifully crafted backyard, all your entertaining needs are sure to be met.

#3 – 11527 SW 35th Ave.

11527 SW 35TH AVE

Now we’re back in Southwest Portland, but in a quiet and beautiful corner of it. While it’s a relatively new build, this English Tudor style home maintains an old world feel with vaulted ceilings, lovely hardwood floors, and an inviting fireplace. And don’t worry, the modern comforts still abound. The master suite includes a luxurious soaking tub and a walk-in closet. Or, if it’s the outdoors that call you, this property still has you covered. Situated on over a quarter acre, it features mature landscaping. Plus, local green space, like the Loll Wildwood Natural Area abounds.

#4 – 13920 SE Ramona St.

13920 SE RAMONA ST

More in the mood for a rural feel? (But not one too far away from the city’s amenities.) Check out this huge corner lot just steps away from Powell Butte. With nearly 3/4 of an acre of land, the possibilities here are endless. You could develop it, build an ADU, or simply live peacefully on your own urban mini-farm. This one makes a great investment opportunity regardless of what you plan to do with it. And easy access to the Springwater Trail also means easy access to anywhere in the city, no matter how much a farmer’s life you’ll be living!

#5 – 5400 SW Shattuck Rd.

5400 SW SHATTUCK RD

This property has its own little history of price drops – this most recent isn’t the first. In total, the list price has come down by $113,001. It’s impossible to say for sure, but a likely explanation could be that the seller listed this home over what it is worth and is now having to come to terms with that. And that can be great news for buyers! Many things can make a seller motivated, but one example is when they simply start getting impatient if their property isn’t selling fast enough.

And there’s a lot to love about this home! For one thing, it comes with over an acre of land. The house itself has good bones, though it could use some updating. Or, with that much land, there’s always the opportunity to tear it down and build your dream home! Or if you like, add on a rental property to help pay that mortgage.

Let’s Go Check Them Out Together

Keeping abreast of price drops is a great way to find a great deal in Portland’s hot seller’s market. Finding motivated sellers can help you get the leg up on the competition. Set an alert today so you can stay in the know!

But the best way to get a leg up is always to find a trusted buyer’s agent. If you’re ready to find the top Portland homes for sale, you’ve come to the right place. Whether you want an at-home workout space or somewhere to relax, we’ll help you get into the home of your dreams! Call us at 503-773-0000 to find out more or schedule a tour.

Written by Stephen FitzMaurice
Published on April 1, 2021