Portland, OR housing market

One in four homes for sale in Portland has already cut its price, and that tells you more about this market than any other number. About 25 percent of active listings have taken a reduction, which means sellers are starting too high and buyers are not chasing. There are roughly two thousand nine hundred seventy homes on the market right now, with about one thousand three hundred seventy new listings hitting this month, so buyers have real choices. That supply is showing up in timing. The typical home is taking about 53 days to go under contract, long enough for buyers to negotiate and walk away if the price is wrong. The typical Portland home is worth about five hundred sixty-six thousand dollars, essentially flat over the past year, down just a hair. And the median asking price sits around five hundred fifty-eight thousand dollars, a sign sellers are already aiming near where homes actually trade. The takeaway for homeowners thinking of selling: this market rewards realistic pricing on day one. Price above the market and you will likely sit for weeks, then join the quarter of listings cutting. Price it right and you can still move.