Portland, OR home prices and housing market

Nearly three in ten Portland home sellers have cut their asking price this summer. If you own a home here and you are thinking about selling, here is what that number is telling you. Start with values. The typical Portland home is worth about five hundred fifty-one thousand dollars, up less than half a percent from a year ago. Prices are not falling, but they are not growing either. Meanwhile there are about three thousand homes for sale, and the median listing is sitting for roughly 59 days before it finds a buyer. Two months is a long wait, and it explains why so many sellers are giving ground. Notice too that the median asking price is about five hundred ten thousand dollars, well under the typical home value. Sellers are already aiming lower just to get attention. Here is the catch. Another one thousand twenty-eight homes hit the market this month, so the competition is not letting up. More choice for buyers means more pressure on every seller to be the best option on the block. The takeaway is simple. Price to the market from day one and you can still sell well. Aim high, and expect to sit for two months and then cut anyway. To see what your Portland home could sell for right now, get a free estimate at Home Value Pros dot com.