5 Portland Homes with Huge Price Drops

If you haven’t heard yet, the market for single family homes is experiencing high demand at the moment. If you have heard, it’s not unlikely you heard it from us, since we’ve been talking about it for a while now. All signs point to a seller’s market – so that must mean every home is in the midst of a bidding war, right?

Not always the case. Sellers still list their homes over what they’re worth all the time. Many sellers can be stubborn about the price they expect to get for their property. If and when they are convinced to drop a price, savvy buyers may find themselves at an advantage. Price drops on a house might make some buyers feel better about their pocketbooks, but many others will simply become skittish, wondering if there’s an issue with the home. (If there is, a proper home inspection will protect the buyer and give them a period in which they can walk away.)

But if there is no issue with the home’s condition, buyers may find themselves in a situation where they suddenly have less competition. Not a bad place to be! It’s normal for very expensive luxury homes to stay on the market longer and have price drops, so what we’ll be checking out today are five moderately priced homes that have seen price drops recently. Let’s see what real estate deals are out there in Portland right now.

#1 – 13635 SE Mitchell St.

13635 mitchell

We went ahead and started with this gem because you might need to get on it – we think it’ll go fast! The price on this home dropped by $20,000 (that’s 4.7% of the original asking price) on March 7th. And they are holding an open house this Saturday from 12PM to 2PM. You can pretty much expect this one to move.

And here are a few reasons why! For anyone who’s feeling a little romantic, the master suite fits the bill. It opens onto the beautiful and classic covered balcony. So just imagine having your first cup of coffee on your own oasis, looking out at Portland but also your long, private driveway. Crown molding, a gas fireplace, and a fenced backyard add to this home’s intimate atmosphere.

#2 – 14512 SE Mill St.

14512 SE Mill St

Possibilities abound with this next home, which comes with an already outfitted and licensed ADU. Multi-generational living or rental income – either way you win! Whoever occupies this space, they’re sure to have fun. Out back you’ll find an outdoor bar with room for a grill, ensuring good entertaining when the weather is nice. (Or when it isn’t – the outdoor dining area is covered!) If being inside is calling to you more, check out the beautifully crafted sauna and get some pampering in.

This home dropped its price by $34,900 on March 2nd. That’s nearly 7% of the original listing price – so a sizeable chunk. Sounds like a good time to snatch this one up!

#3 – 3534 NE 88th Ave.

Just at the base of Rocky Butte in Northeast Portland, you’ll find this home comes with a lot of opportunity for anyone with hobbies. Where to start? You’ve got an oversized 2 car garage, a driveway with room for an RV, not one but two sheds, and a huge yard with plenty of room for gardening. For the right person, there’s a whole lot you could do with all that space!

Inside you’ll find a lovingly maintained home with beautiful hardwood floors and a lot of character. This list price on this one dropped by $25,100 on March 2nd, a 4.8% decrease.

#4 – 5241 SE 66th Ave.

Next up we have a beautiful and classic Portland bungalow. And this one is in a fantastic up-and-coming neighborhood, near Mt. Scott Park and Community Center. Inside you’ll find the charm you expect from an older, established Portland home. Hardwood floors and a flexible floor plan on the ground floor await your personal touches. Outside, there’s your iconic covered front porch, complete with hydrangea bushes. And out back a huge yard for whatever frolicking you’d like to indulge in.

This home also recently dropped its price, by $35,100 on March 4th. That’s a 6.5% decrease. Not a bad deal!

#5 – 3834 SE Lincoln St.

Finally, we end our trip in Richmond on the painfully charming Lincoln Street. This is another bungalow, and one that is really suited for someone who wants to live in the heart of Southeast Portland. But – without sacrificing space! You’ll find a huge partially finished basement and an enormous garage attached. That’s a lot of room right in the heart of the city. And a covered outdoor space ensures you’ll be enjoying the outdoors in any weather.

This home also dropped its price on March 4th, by $25,900 (a 4.2% decrease). Like the rest of these listings, the price drops are recent, so don’t expect these homes to stick around for too long!

Let’s Go Check Them Out Together

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.

We’re here to assist with your search whenever you’re ready. Until then, check out our Vestor Filters™ to thin out the herd. For this article, we selected single family homes and used the filter for the biggest price drops. You can add on other filters, such as price ranges, as well. Happy hunting!

Written by Stephen FitzMaurice
Published on March 9, 2021