Blog Buyer 5 Compact Homes for Sale at $1 Million

5 Compact Homes for Sale at $1 Million

By Living Room Realty, October 22, 2019

Nationwide, $1 million buys about 2,192 square feet, which is 14% less than in 2014. The price only covers 2,090 square feet – a 24.5% drop – in Seattle, which came in fourth in the study among the 100 most populous cities. Top-tier homes in 8th place Vancouver, Washington are now 22.1% smaller.

The reason buyers are getting less square footage? High-income earners are willing to pay more for a luxury condo or house, and developers want to build on underused land with a small home, as analyzed by real estate database Zillow.

What’s the seven-figure scene in Portland now compared to 2014? Not as dramatic, according to the study.

Portland is 36th in that ranking. In 2014, $1 mission homes in Portland were 3,770 square feet. Now, they are 3,318 square feet – 12% smaller. Here’s 5 examples of what $1 Million can get you in Portland today.

Pearl District Condo: A 2018 Vista condo at 1150 NW Quimby St #906 in the Pearl District is listed at $1,08,500. The northeast-facing home has 2 bedrooms, 2.5 bathrooms and 1,612 square feet of living space, which breaks down to $673 a square foot.

Woodstock: A single level 1949 house at 5710 SE Woodstock Blvd in Woodstock sitting on a corner lot with two tax parcels totaling .33 acres with an alley along the back side is listed at $1,049,000. The house has 3 bedrooms, 1 bathroom, and 1,762 square feet of space.Fountain Plaza Condo: The Fountain Plaza Condominiums unit at 1414 SW 3rd Ave #2502 is listed at $1,050,000. The condo, which was remodeled in 2012, has 2 bedrooms, 2 bathrooms and 1,881 square feet.

Casey Condo: A condo in the Casey in the Pearl District at 311 NW 12th Ave #302 is listed at $1,025,000. The southeast-facing home has 2 bedrooms, 2.5 bathrooms, and 2,074 square feet of living space.

Midcentury Modern: A midcentury modern home on a 10,018-square-foot lot at 440 SW Hillside Drive in Bridlemile is listed at $1,090,000. The two-level Northwest Contemporary house was designed by William Fletcher and built in 1965, and has 3 bedrooms, 2.5 bathrooms and 2,708 square feet of living space, says listing agent Marisa Swenson of Living Room Realty.

 

Article thanks to Janet Eastman and The Oregonian 

Living Room Realty

Living Room Realty is a full-service real estate brokerage with four offices in Portland, one at the coast in Manzanita, and one in Vancouver, WA. At Living Room Realty, we listen and ask the right questions. We’re committed to being your most effective advisor and advocate. Our goal is your success.
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