May Market Update — Portland Metro Area
The May real estate market stats are out, and the Portland Metro Area continued to see slight price growth. We did see an uptick in new listings, giving buyers more homes to choose from.
What’s it mean for buyers?
The number of homes for sale keeps growing, and it’s taking longer for homes to sell--but buyers still face multiple-offer situations all over the metro area. Prices keep slowly rising, so buyers would be smart to keep searching hard for the perfect home, since the market does not appear to be softening anytime soon.
What’s it mean for sellers?
Homes are taking a bit longer to sell, as inventory has risen. But there is still a lack of homes for sale, and many homes are selling very quickly, often with multiple offers. In a volatile market, it’s important to have an expert realtor who you can trust for pricing and marketing expertise and for negotiating the best deal possible.
