Nick Krautter breaks down Portland's housing market with 3 months of inventory, median prices flat year-over-year, and average sales price around $615,000. Interest rates sit in the mid-6% range, and homes are spending about 60 days on the market.
Hey guys, Nick Krautter here. I am excited to be bringing SellPDX back and bringing you the best market stats for the Portland market. Right now, as of April, we have 3 months of inventory. A balanced market is considered 6 months, so we're still technically in a seller's market. But there's some interesting things going on, and I want to share a little bit about what's going on. Our median sales price is identical to where we were a year ago, so we're totally flat. Average sales price is down about $1,500. So average sales price is $615,000, median sales price is $550,000. And if you look at the chart of active listings and new listings and pending sales, we're tracking almost identically with the last couple years. We're seeing a little bit more active, a little bit more pending, and a little bit more closed so far this year. Interest rates are still high in the mid-6s, but our market time is really holding where we saw it last year. So right now we're at about 60 days time on market, so that's 2 months. Now some people's homes are going to sell much quicker and some are going to take longer. There's a lot of factors involved, so please give me a call and let me know if you're curious what your home's worth or if you want an update on any of your properties.
