JUSTIN’s
Market Update
Welcome to Fall in Portland Oregon. The residential real estate market in PDX has cooled during this season of change which is a normal shift. There are a couple of factors to consider for buyers and sellers with low inventory of houses for sale and longer days on market. Prices continue to rise but I do see price reductions becoming more common. These signs point to a weakening housing market and I am cautious about 2022 with large corp. investors selling off the houses they purchased to flip.
My guidance for the coming Winter season is Sellers to price their houses competitively as I am seeing multiple price reductions on many listings. Buyers are in a better position but competition is strong for houses priced right in good condition. We are still in a Seller’s market but it feels balanced as we head into Winter.
To view a detailed weekly market report from my preferred title & escrow partner click below.
Thinking about buying or selling property in Portland or the surrounding area?
Call or text: 503.891.4725.
Thank you,
-Justin