"In December, Portland's active listing count impressively rose by 3.7% year-over-year, reaching an enticing 2,005 homes. Although this increase in inventory was more modest than the national trend of a 12.1% rise, the city offered a wealth of options for eager buyers. Interestingly, the number of newly listed properties in Portland declined by 20% compared to the previous year, hinting at a fascinating dynamic where existing homes captured the spotlight while fresh listings took a backseat."
"The median listing price in Portland stood at $499,450 in December, showcasing an admirable stability with just a slight year-over-year decrease of 0.1%. This steadiness contrasted with the national trend of a 0.6% drop, highlighting Portland's unique pricing resilience. With 22% of listings experiencing price reductions, an increase of 0.9 percentage points from the previous year, sellers demonstrated their willingness to adapt and remain appealing in a competitive market."
"Homes in Portland spent a median of 91 days on the market in December, marking a 5.2% increase compared to the same month last year. This duration, longer than the national median of 73 days, suggested that buyers relished the opportunity to explore a diverse selection of properties, taking their time to make informed decisions. The extended days on market, combined with a burgeoning inventory, painted a picture of a market brimming with potential for discerning buyers."
Portland's active listing count rose 3.7% year-over-year to 2,005 homes in December, providing a broader selection for buyers. Newly listed properties declined 20% from the previous year, suggesting existing listings drove market activity. The median listing price was $499,450, a slight 0.1% year-over-year decrease that remained more stable than the national 0.6% drop. Twenty-two percent of listings had price reductions, up 0.9 percentage points, indicating seller responsiveness. Homes spent a median of 91 days on the market, a 5.2% increase and longer than the national median of 73 days, increasing negotiating potential for buyers.
Read at SFGATE
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