How to Find a Deal on a Home for Sale in Portland’s Hot Seller’s Market

The biggest real estate news story of the year has to be the lack of inventory driving up home prices. This phenomenon swept the nation, and Portland was no exception. If you’ve had real estate on your mind, chances are you’ve heard some horror stories about outrageous bidding wars and high competition. And when that’s the case, it must mean it’s impossible to get a good deal on a home, right?

Think again! Real estate prices are a moving target, and you always have the opportunity to score a better deal. The best way you can ensure success in your buying process? Choose an experienced and savvy buyer’s agent. A good agent knows the ins and outs of this business like the back of their hand, and they’ll be able to help you get the most bang for your buck.

But it never hurts to use all the tools you have at your disposal. And that includes online home search sites. Here at portlandhomesforsale.com, we pride ourselves on our VestorFilters™. They provide information you can’t get anywhere else!

So today we’ll take a look at one way to find the best deals on homes for sale right now in Portland using our search filters. We found these listings by applying our Biggest Price Drop Last 7 Days VestorFilter™. Our research shows that homes put on the market at a lower price point tend to sell for more. Properties that see a price drop, on the other hand, were likely listed too high. When that happens, homes lose the market’s attention – and the longer they sit, the harder it becomes to sell. If it’s reached the point where the seller has to agree to a drop in price, then, you’re looking at a pretty motivated seller. And that could be your in for finding a great deal!

Skip the bidding wars; seek out listings where you hold the cards! In that spirit, let’s check out five homes with recent price drops for sale now.

#1 – 4825 SE 115th Ave.

4825 SE 115TH AVE

First, let’s explore a great opportunity to own a mid-century one level home in a quiet part of Southeast Portland. There’s a lot to love here. First off, you’ve got a corner lot with plenty of space and privacy. Walk up to the door through expansive raised garden beds. Upon entering, you’re met with original hardwood floors. In the living area, don’t miss the cozy fireplace. To finish things off, walk out onto the patio and discover the delightful and refreshing pool. Bonus point? The pool uses solar energy for its heating, saving you money and helping your energy footprint. This home dropped by $34,000 only July 18th.

#2 – 4911 SW Hamilton St.

4911 SW HAMILTON ST

Next, let’s visit a home in Southwest Portland, just a few blocks from the lovely Hamilton City Park. Anyone looking for a quiet retreat will love this home with its large, green-filled yard. There’s even a small creek nearby! If you’d rather cozy up inside, not to worry. Gather under the living room’s vaulted ceilings, which let in plenty of light, and around the huge stone fireplace. This split level includes a huge garage as well as a semi-separate living area on the lower level. This property also dropped in price on the 18th, by $34,900.

#3 – 1503 NE 76th Ave.

1503 NE 76TH AVE

Now we hop over to Northeast Portland to look at an incredibly charming home right off of Halsey. The devil is in the details with this one, whether you’re looking at the clawfoot bathtub, new quartz countertops, or cozy wood-paneled upper level. A big upside to this particular listing? You’ve got a separate ADU all set up and ready to go. And it’s as charming as the main house with beautiful skylights! And you’re probably dealing with some pretty motivated sellers at this point. The last price drop on July 21st? $50,000. Total price drop? $100,000. Not too shabby!

#4 – 5 SE 76th Ave.

5 SE 76TH AVE

Just a handful of blocks south of your last listing, you’ll find this amazing opportunity to live in the highly desirable Montavilla neighborhood. And this house definitely suites the neighborhood! Lush landscaping, a two-level wrap around porch, and delightfully private fire pit mean plenty of options for enjoying the outdoors. Inside, this home exhibits great division of space. You’ve got a dedicated dining room that lets out onto the porch. And a high end kitchen to match it! On July 20th, the price on this one dropped by $49,100 – check it out while you can!

#5 – 4624 S Water Ave.

4624 S WATER AVE

We’ll finish today’s adventure with a Craftsman bungalow in South Portland near the Waterfront. This one is an entertainer’s paradise. You’ve got a roomy main living and dining area. You’ve got a chef’s kitchen with a gorgeous gas range and kitchen island. You’ve got a backyard that includes both a patio/fire pit and a deck with room for outdoor dining. But there’s plenty of space for private relaxing as well, especially on the balcony off the primary bedroom, from which you can enjoy views of the river. And a fully equipped ADU on the lower level is ready for your guests. This home dropped in price by $50,000 on July 15th. These sellers are ready for you!

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. Our range of filters means you can customize your search while also checking out the very best deals on the market right now. Call us at 503-773-0000 to find out more or schedule a tour.

Written by Stephen FitzMaurice
Published on July 22, 2021