Here’s what you need to know about Portland’s real estate market.
Winter is coming! Typically, that means the real estate market will experience a slowdown, but is that the case this year? Let’s talk about it.
While we are experiencing a bit of a slowdown, things are still crazy when compared to 2019. To illustrate my point, let’s see what the numbers have to say:
- Active listings were up in September. They increased 15.2% in Portland and 8% in the Washington market.
- Closings were down 2.6% in Portland and 11.8% in Washington.
- As for October, active listing decreased 14%, and closings were down 4.7%.
- Meanwhile, homes have appreciated about 16% in the Portland metro year over year.
As you can see, things have cooled off a little bit, but our market is still on fire. You may have heard that Zillow is no longer buying properties, but this has more to do with their specific business practices than national trends. Our local market remains incredibly strong.
If you have any questions about today’s video, please reach out to me via phone or email. I am always willing to help.
