The Portland, Oregon real estate market is changing. According to RMLS, year to date, the first 10 months of stats reflect new listings down by 3.3%, pending sales up by 17.6% and home sales also up by 20.4%. Home prices are still rising. The average home price in the Portland, Oregon home market is $273,400, a 3.7% increase over the same period last year. Total market time, or how long a home is on the market, has also dropped 21% (just about 3 months) from the same period last year of just about 4 months. Again, these sustained numbers reflect a shifting market. Buyers still have great interest rates and prices yet sellers have a more favorable market to obtain better prices with less inventory.
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Call Jen Woodbury, an experienced Oregon real estate broker at 808-936-8957 and/or 503-218-3936 when you need to buy or sell real estate.
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