New figures were just released on the greater Portland, Oregon real estate market. The results are reasonably good. Click here or on the Market Action image below for the full report with specifics on your town or neighborhood.
The average time a house sits on the market has declined more than 20%. As a result, it now takes an average of 117 days to sell a home in the greater Portland area.
More Good News
Housing inventory (also called backlog) has dropped from 4.6 months to 3.9 months. This means if no new homes were placed on the market, the greater Portland area would run out of homes in 3.9 months. This means our market is moving toward more balance between a buyer’s and seller’s market.
Even Better News
But it gets better. The average selling price is up 2.7% and the median selling price has increased by 4.5%.
Contact Certified Realty today at (503) 682-1083 for more information about Oregon’s current real estate market.