Million-dollar condo market heats up in Portland

Building under construction

The Cosmopolitan under construction.

MILLION-DOLLAR CONDO SALES ARE BOOMING IN PORTLAND. WHO IS SPENDING SEVEN FIGURES TO LIVE IN PORTLAND’S CORE NEIGHBORHOODS?

Portland’s million-dollar condominium market is on the rise.  Last year, 48 condos sold for $1 million or more in Portland, up from 26 luxury $1 million condos in 2009.  Seven-digit prices are being driven by cash buyers and a lack of inventory.  Portland’s luxury condo market in the Pearl District has quickly expanded. There’s currently just one new luxury development in the Pearl being built, the Cosmopolitan in the Park.  Of the building’s 36 units priced at a $1 million or more, all but eight condos have already sold.  The project is scheduled to be completed by July 2016. Click here to read more about the hot luxury condo market in Portland.