In the latest Portland Metro Market report RMLS reported that October 2022 had more homes on the market, the same amount as pre-pandemic levels. Additionally, homes are sitting on the market longer. As a result, the median sale price is down by 2% from Sept 2022 and closer to the median sale price of October 2021.
Buyer Opportunities:
- More options
- More time to make decisions
- Better contract terms
- Opportunities to negotiate on homes sitting 30+ days on the market.
Seller Opportunities:
- Little competition: Inventory remains at record lows. Most homeowners refinanced. They sit at 3% interest rates and will likely not return to the market.
- Still a Seller’s Market
