5 Portland Condos with the Biggest Price Drops

The condo market in Portland has been lagging compared to single family homes, which are in high demand, for over a year now. How much credit we should give to the pandemic for this phenomenon is up for debate (though it certainly didn’t help!). But there’s no denying that right now is a great time to buy a condo in Portland. Demand has been low, making it more of a buyer’s market.

It can be easy to have hesitations about a home that has knocked off a chunk of its price one or twice. Is there something wrong with the home itself? You might ask yourself, am I making a bad investment? But given the current market for condos in Portland, a discount might just be a discount – and a real deal for you. In fact, given the confluence of low inventory of single family homes and the vaccine roll outs, now might be the best time to buy a condo.

With that in mind, let’s take a look at five condos for sale in Portland right now that are at their most buyer-friendly. The condos we’ll highlight today have all had at least a 5% drop in price. Compare that to your interest rate right now, which is historically low but facing pressure. A few percentage points still adds up to a lot of money! Read on to see some of the best condos on the market in Portland right now.

#1 – 1051 N Fremont St.

1051 N FREMONT ST

For anyone looking for the most attractive parts of Portland life, here you are. Steps from Ecliptic Brewing and Stormbreaker brewing, any beer nerd will be satisfied. And Mississippi Ave. is sure to cater to other tastes, from shopping to dining.

Prefer dining in? You’re sure to be comfortable here in an open concept space that is anchored by the exceptional kitchen and friendly fireplace. Finish your evening (or start it – we don’t judge) in the private hot tub. Either way, the lovely wood finishings of this home will have you finding your hygge.

This property last dropped on February 23rd, by $35,000. This was their first decrease in price, so get on it while you can!

#2 – 2309 SW 1st Ave. #1545

2309 SW 1ST AVE 1545

Prefer to be downtown, right in the middle of things? This condo is set at an amazing price for the area. It’s an older building (comparatively), but inside you’ll find spectacular views at the fraction of the cost of other options. The private outdoor terraces here will spoil you: where else can you lounge and gaze out the city and Mt. Hood for this price? This condo has dropped in price by $65,000 in all – the latest was just 2/23 – so all signs point to sellers wanting to move this amazing opportunity.

#3 – 5250 S Landing Dr. #111B1

5250 S LANDING DR 111B1

For anyone interested in a home close to the river, this is the place for you. You’ll be just steps from the Willamette on the west side, where you can enjoy privacy and comfort in this cozy space. A fireplace punctuates the living room, and the bounty of closet space assures that you can enjoy city living without sacrificing storage space. If the balcony doesn’t complete your needs for comfort, check out the pool, jacuzzi, and sauna that accompany the complex. At this writing, this listing has dropped a total of $46,000, a huge drop of about 14%.

#4 – 841 SW Gaines St. #1802

841 SW GAINES ST 1802

Let’s move on to another spot of the Southwest Waterfront, just a little bit farther North towards the city. This building is newer and more modern, with the kind of windows you dream about when you think of living in the heart of a city. Take in the views of the Willamette from the coveted outdoor space, or sit inside and enjoy them from the floor to ceiling windows. There’s no getting around it: if you love seeing Southeast Portland spread out beyond the river, this is the spot to watch from.

This condo last dropped in price on February 25th by $40,000. But in total it’s dropped by $91,000, which could mean huge savings for you. Don’t forget, the condo market won’t stay this way forever.

#5 – 2336 SW Osage St. #503

2336 SW OSAGE ST 503

And speaking of views: let’s finish up with a spectacular space situated just blocks away from Portland’s famed rose garden. From here, you can view the city and the mountains from most rooms, including the beautifully tiled kitchen, which features premium fixtures and open wooden shelving and countertops. This really is the essence of urban living in Portland: beautiful woodwork combined with bracing views in any weather. A garage space is included, increasing your work/life balance – head out to the mountain you can see from your patio whenever you want!

This property has decreased a total of $100,000, most recently by $50,000 on February 22nd. For a considerable amount less than what it’ll be worth in the future, you could own this one right now.

Let’s Go Check Them Out Together

If you’re looking into buying a condo in Portland, this could be the best time. And the best way to find one is to work with an agent that has your needs in mind and the knowledge of the market behind them. Check out our Vestor Filtors – where you’ll be able to search specifically for factors like price drops – and contact us when you’re ready to find the Portland home for sale that’s just right for you. Call us at 503-773-0000 to find out more or schedule a tour.

Written by Stephen FitzMaurice
Published on February 25, 2021