"The median list price in Portland came in at $489,675 in March, down 4.9% from a year ago, which is more than double the national price decline of 2.1%. Over 21% of active listings had already taken a price cut, compared to 16.3% nationally, providing buyers with significant negotiating power."
"Despite falling prices, Portland homes sold faster than they did a year ago, with the typical home spending 49 days on the market in March. This represents a 4.9% improvement over last March and is 8 days quicker than the national median of 57 days."
Portland's housing market experienced a decline in median list prices by nearly 5% year over year, with homes selling faster than the national average. Active listings grew only slightly, reaching 2,052 homes, while new listings fell by 2.6%. Buyers gained leverage with over 21% of active listings having price cuts. Homes sold in an average of 49 days, which is quicker than the national median. The combination of falling prices and competitive sales creates opportunities for buyers in a tight inventory market.
#portland-housing-market #real-estate-trends #craft-beer-culture #inventory-and-pricing #buyer-opportunities
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