T
oday, I'm putting on my editor's hat and sharing insights from my real estate broker experience. As the owner of Dirk Knudsen Real Estate - MORE Realty Hillsboro in historic Downtown Hillsboro, I've been a principal broker for 43 years, making me the most experienced broker in the valley.
We're facing historically challenging times due to massive layoffs at Intel and other companies. People are worried about market collapse and unaffordable housing prices. However, the truth lies in the numbers and meta-trends. Let's take a look at the data for Areas 149 (Bethany/NW Hills), 150 (Beaverton/Aloha), and 152 (Hillsboro/Forest Grove) based on the RMLS Market Action Report.
Area 149: This market is cooling off, with sluggish prices and rising inventory. The average sale price has inched up by 0.6% compared to last year, but homes are taking longer to sell. With an incomparable location, low taxes, and great schools, this area is experiencing a natural correction.
Area 150: Beaverton/Aloha is holding its own, with solid demand but a cooling buyer urgency. The average sale price has climbed by 1.0%, driven by new construction sales in South Beaverton. Look for housing prices to stabilize, but incentives will be needed to keep the market moving.
Area 152: Hillsboro/Forest Grove is picking up steam, with rising pendings and quicker sales. The average sale price is up 0.3%, indicating stable pricing amid balanced inventory. Despite Intel layoffs, this area has shown resilience, and savvy builders are adapting by offering attached townhome projects to keep prices down.
The bottom line: Beaverton/Aloha is cooling off modestly, NW Washington County shows softer buyer traffic, while Hillsboro/Forest Grove is gaining momentum. Prices remain healthy in all three areas, but inventory levels mean neither side has overwhelming leverage.
Other factors at play include economic uncertainty and tariffs, which may impact Oregon's economy. The 3% interest rate factor will continue to affect the market, with tens of thousands of homes potentially remaining unsold due to high monthly payments. Rents are expected to drop, making it a good time for homebuyers. Net migration is also worth noting, as Portland and Multnomah County experience a population decline.
For sellers, it's essential to be realistic about pricing and negotiate effectively. Hire an experienced broker who has navigated downward cycles before. For buyers, now is a great time to shop and buy homes, with relatively fast sales and good negotiation opportunities. Get a great lender, and don't expect too many steals on the market.
As a special offer, I'm providing a 1% listing-to-sale program for households affected by recent Intel layoffs. Call me at 503-799-8383 or email [[email protected]](mailto:[email protected]) to learn more.
