Cedar Mill Real Estate Update

by Scott Heaston, Real Estate Broker, Ryan Olsen Realty

Cedar Mill is growing up, literally. Current and future developments of condo buildings, townhouses, and apartment complexes continue to raise the density of the Cedar Mill area. Residents of Cedar Mill enjoy the community for many reasons, and for these reasons developers and builders are confident the community will continue to draw both home buyers and renters.

First phase of construction at the 1300-unit Polygon Homes developement on the former Teufel Nursery property that stretches from Cornell to Barnes

Since Cedar Mill is a great commuter location, high density might make sense. Currently there are two proposed developments at 10600 SW Taylor St.; Peterkort North which is permitted for 480 stacked flats, and Peterkort Station which is in for a permit to build 1816 units and mixed use with office/retail of 944,500 sq ft. And just west of those developments is the Teufel Nursery development that has been permitted for 1300 units. Construction is moving quickly and our numbers are growing. With the higher density we can expect a new energy in the Cedar Mill community.

Regarding single-family residential homes that advertised in the RMLS (Realtors Multiple Listing Service) as a part of the Cedar Mill neighborhood, there have been 10 homes sold in the past 12 months, four pending, and five currently on the market.

Residential sales in Cedar Mill have felt a slowing that is consistent with the trend of Portland’s general market. Though the days of just putting a sign in the yard to sell a home may be gone, we are still in a healthy market and continue to see appreciation. Year to date, according to the 2006 July report from the RMLS, northwest Washington County residential homes appreciated 16%. With interest rates still low, we are still in a strong market. Property in Cedar Mill has never been more valuable.

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Published monthly by Cedar Mill Advertising & Design
Publisher/Editor:Virginia Bruce
503-629-5799
12110 NW West Rd
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