Market Update: What We're Grateful For in Real Estate
After a busy summer, the Portland market is shifting into its fall rhythm. New listings fell 21%, while time on market rose to 68 days. Pending sales dipped slightly (–2%), but closed sales increased 6.5%, showing that serious buyers are still out there. The average sale price climbed to $628,100, while median price slipped to $528,000 — a sign of higher-end activity even as mid-range homes face more competition.
What it means:
Inventory remains higher than usual, and nearly half of all active listings have price reductions. That means pricing strategy and presentation are key right now.
Inventory remains higher than usual, and nearly half of all active listings have price reductions. That means pricing strategy and presentation are key right now.
For sellers: Fewer new listings and steady buyer traffic create opportunity. Well-priced homes that show beautifully are still moving quickly.
For buyers: With elevated inventory and price cuts near 50%, there’s more room to negotiate and find value before prices trend back up after the holidays.
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