Million-dollar homes are still rare in metro Portland, but their share of the market has more than tripled in five years, according to the real estate website Trulia.
About 1 in 40 homes hit that threshold in the Portland area in 2018, Trulia said, up from 1 in 125 in 2013.
And while nearly all major metros are seeing an increase in million-dollar homes as prices rise across the nation, the shift has been more dramatic in Portland.
In 2013, Portland ranked 42 out of the 100 largest metros in its share of homes valued over $1 million. In 2018, it had climbed to No. 28.
Home prices in the Portland area have climbed 47 percent since 2013, according to the S&P CoreLogic Case-Shiller index. The median home price topped $400,000 for the first time this year, according to the Regional Multiple Listing Service.
In the Bay Area, million-dollar homes have become the norm. The median San Francisco home value is $1.3 million, according to Trulia, and 81 percent of homes cost more than $1 million.
About 13 percent of Seattle-area homes are priced over $1 million. The median home price there is $565,000.
— Elliot Njus
By Ronda Kaysen, NYTs
For the most part, we hunker down in the winter, as the weather is often too cold and unpredictable to tackle major home improvement projects. Make sure your home is prepared for the harsh weather.
Bring out the snow blower. Make sure your snow blower is in good working order before it snows. You do not want to be caught in the first major storm with only an orange shovel to dig you out, Send the snow blower to a small-engine repair company for a tune-up. Some companies will pick up and drop off your equipment for you. Expect to spend $60 to $200, depending on the size of your blower, Make sure you have gasoline and motor oil.
Stock up on supplies. before the Weather Channel tells you a storm is coming. Look for brands free of salt or chloride. But even products billed as “pet safe” can still harm your pet, so wipe their paws and don’t let them lick treated snow. Ice-melting products can also damage your foliage, so use sparingly. Make sure your shovel survived last winter because you will need to dig out of stairways and narrow pathways, even if you have a blower.
Ice dams. When ice accumulates along the eaves of your roof, it can cause a dam that can damage gutters, shingles and siding. As water leaks into your house, it can wreak havoc on your paint, your floors and your insulation. Throughout the winter, inspect the exterior of your home regularly . Look for icicles, because the same forces create dams. Consider buying a roof rake. The $30 tool will help keep ice off your roof in the first place by removing fresh snow from your roof after a storm. Do not hack away at the ice, as that could harm you or your roof
INSIDE YOUR HOME
Frozen pipes. When water freezes in pipes, it expands, damaging or cracking the pipes. When the ice melts, and the pipe bursts, your home fills with water. Pipes near the outside of your home are at greatest risk, like outdoor faucets, pipes in an unheated garage or swimming pool supply lines. A few tips:
- Shut off and drain outdoor faucets before the cold weather hits.
- Insulate pipes where you can.
- On cold days and nights, keep the cabinets below sinks open to let warm air in.
- You can also run the faucet at a drip to keep water moving.
- Keep the thermostat set at a steady temperature.
- If you go away, set the thermostat to a minimum of 55 degrees,
Generator. A portable generator can provide you with a lifeline in a blackout Power it up every three months, and twice a year (even if you never use it). Keep fuel and motor oil on hand in the event of a storm. Do not let fuel sit in the tank for long periods of time, as that can damage it. Check it regularly for corrosion and wear.
Winter storm prep. A heavy winter storm Stock up on wood for the fireplace, gas for the snow blower and canned food and bottled water, in case you lose power. Check your emergency supply kit for batteries, a radio, a first-aid kit and any medicines you may need. Check in on neighbors who may need help shoveling out (a little camaraderie in a storm goes a long way).
Janet Eastman | The Oregonian/OregonLive By Janet Eastman
on January 03, 2017 at 11:00 AM, updated January 03, 2017 at 8:58 PM
Moving vans are on the roll and many continue to head to Oregon, according to a migration study released by Atlas Van Lines.
The moving company found that Oregon continues to be a top relocation spot, ranking second in inbound moves, percentage-wise.
That’s no surprise to the people already living here. After topping 4 million people for the first time in 2015, new residents have been arriving at a rate not seen since the 1990s.
Last month, the Census Bureau reported that Oregon had grown by 1.71 percent in the past year, making it the sixth-fastest-growing state by percentage. Its 69,000 new residents also make it the ninth-fastest-growing state in absolute numbers.
Most of the state’s population growth came from migration, which tends to follow the health of the economy. Oregon’s job market has been growing faster than the nation overall.
Each January, moving companies Atlas and United Van Lines reveal the percentage of inbound and outbound moves in each state to define trends in nationwide migration, which has slowed slightly, according to Atlas.
Oregon has been classified since 2012 as an inbound state, that is, more out-of-staters are renting moving vans to come here than residents leaving, according to Atlas.
In 2016, 62 percent of Oregon’s moves were into the state, according to Atlas’ latest findings. In 2015, Atlas found that 64 percent of moves in Oregon were inbound, propelling it to the top moving destination.
United Van Lines’ 40th Annual National Movers Study, which also tracks customers’ state-to-state migration patterns over the past year, found South Dakota narrowly overtook Oregon, which held the top spot for the previous three years as the nation’s Top Moving Destination. Vermont holds the second position, with Oregon rounding out the top three.
The influx of new residents has been one factor in rising home values and low vacancy rates among rentals. Prices in the Portland metro area grew 10.3 percent year over year, according to the S&P CoreLogic Case-Shiller home price index. The city saw the second-largest increase among the 20 metro areas included in the index, following Seattle’s 10.9 percent jump.
Nationwide in 2016, the total number of interstate and interprovincial moves by Atlas Van Lines reached 75,427, down from 77,705 in 2015. For the fifth consecutive year, the states with the highest number of total moves were California (14,995), Texas (11,973) and Florida (10,231).
“We are cautiously optimistic that we will see an uptick in 2017 for all types of moves, but we are aware of the economic headwinds that lie ahead of us,” said Jack Griffin, CEO and Vice Chairman of Atlas World Group, in a news release. The company has conducted the migration study since 1993.
Here are the 10 states with the highest percentage of inbound moves and outbound moves as reflected in moves handled by Atlas. This is the first year Idaho has been the study’s inbound leader. Wyoming topped the outbound list back in 2012 as well.
Top inbound states:
Idaho (63 percent)
Oregon (62 percent)
North Carolina (61 percent)
Tennessee (60 percent)
Alaska (59 percent)
Washington (58 percent)
Michigan (57.2 percent)
Washington D.C. (57.1 percent)
Florida (56 percent)
New Hampshire (55.1 percent)
Top outbound states:
Wyoming (63 percent)
Nebraska (61 percent)
Illinois (60 percent)
Delaware (59.5 percent)
Louisiana (59 percent)
Connecticut (58.9 percent)
New York (58.7 percent)
West Virginia (58.6 percent)
Indiana (58 percent)
South Dakota (57.6 percent)
View the full results of the 2016 migration patterns, along with a nationwide map and annual histories for each state.
– Janet Eastman