Information for BuyersInformation for SellersUncategorized June 5, 2019

Let me introduce you to Brooklyn!

Fuggetaboutit! Brooklyn is a great close-in Portland neighborhood and is often overlooked by buyers. I am speaking anecdotally here, but it is not uncommon for me to meet with a new buyer and they will insist we only look in Eastmoreland, or only look in Laurelhurst, or Ladd’s Addition, or Irvington. Rarely has any buyer said they were only interested in looking in Brooklyn. Usually, I am the person introducing them to Brooklyn!

In terms of value, since it is under many buyers’ radar, a person can get a bit more bang for the buck in Brooklyn.  As of this writing, there are seven active listings in the neighborhood with a median asking price of just under $500k. Over the last year, I have tracked 41 sales with a median sales price of $490,000 and an average price per square foot of $230 in the Brooklyn nieghborhood. Compare this to the rest of the zip code (which includes Eastmoreland, Sellwood, Westmoreland, and Reed) and the entire 97202 zip code averaged $269 per square foot in April of this year. In other words, Brooklyn is a bargain. See the chart below to see how prices have trended over the last year in the entire 97202 area code.

What do I like about Brooklyn? Well, within Brooklyn there is a dynamic housing stock. Everything from turn-of-the-century Victorians to classic Portland craftsmen- and foursquare-style homes, to new construction. There are also plenty of small multifamily properties as well as condos. This leads to not only a dynamic and diverse housing stock, but it also leads to a dynamic and diverse population. On top of that, there is everything a person would want for retail offerings. Pok Pok has a location in Brooklyn, and there are several bars along Milwaukie Avenue as well as one of the best music venues in town, The Alladin Theater.

If you have any questions about the neighborhoods of Southeast Portland, please reach out. I love to talk about the history of neighborhoods, the future of Portland, and most importantly, good deals! Give me a call and let’s get after it!