November Market Update — Portland Metro Area
The November real estate market stats are out, and the Portland Metro Area continued to see slight price growth. New listings were down compared to last year, but homes took longer to sell.
What’s it mean for buyers?
The market is uneven, with some buyers finding good deals while other buyers wind up in multiple-offer situations. Prices continue to rise, and while homes are taking longer to sell, new listings have slowed as well, meaning there are fewer options. With interest rates flattening, buyers should try hard to get into a home before the market accelerates again.
What’s it mean for sellers?
Homes are selling at a slower pace than last year, and the number of homes for sale remains low. Although it doesn’t feel like a seller’s market, the low inventory makes it a smart time to sell. With a solid marketing and pricing strategy, multiple offer situations are a possibility, so it’s critical to have a great real estate agent guiding you.
