How Long to Sell a Home in Portland, Oregon? 2023 Report
History of Time on Market in Portland
Taking a look at the days on market in Portland, Oregon can tell the story of its real estate market as a whole. It is easy to see the trends, shifts, and market changes over the course of years.
Typically days on market exceeding 60 days is a buyer’s market and time on market less than 60 days is considered a sellers market.
|Past Years||Average Number of Days to Sell (go pending) in Portland, Oregon||Past Years||Average Number of Days to Sell (go pending) in Portland, Oregon|
|2022||29 ( hottest first half I’ve ever seen, slow second )||2014||70|
|2021||27 ( fast all year )||2013||83|
|2020||46 (slow first half, fast second)||2012||112|
|2019||56 (was slowing down until pandemic)||2011||143|
|2016||42 (marks 8+ years of steady increases)|
Looking back on this history, I’m proud to report in that same time frame my team has sold over 1,000 homes in less than 30 days on market and more than 500 homes in their first weekend on market. Our client’s homes’ time on market averages for the year consistently beats the metro’s averages.
Except for the Extremes, Home Selling in Portland is Seasonal
Generally speaking, homes in the metro sell the fastest in the spring (less than 30 days), take longer in the summer (more than 30, but less than 60), and the slowest in the fall and winter. This has been true as long as I’ve been selling homes outside of the extremes. The extremes being the 2008-2011 crash, and after March 2020 through early 2022. In the fall of 2022, spring of 2023, and now summer of 2023, we are experiencing the same usual seasonal shifts we typically see in more balanced years. To learn the best month to sell or buy a home, check our annual reports.
How long to sell a home in Portland, Oregon right now?
According to RMLS, the average days to sell a home in May was 40. We obtain more up-to-date numbers from Fidelity They are reporting a 70 day market average as of late-June. Either way, we expect to see days on market averages by the end of 2023 ranging close to 60 ( a relatively balanced market ).
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You can sell a home anytime of year, but …
By mid-summer (where we are at now) many of the homes you see active on the market will not sell at all, they will cancel their listing and take it down. There are still plenty of sales that will occur between now and the end of the year, but pricing must be competitive. Inventory is high and will remain so through September. You can sell anytime of year, but expect it to take longer in the back half of the year and your pricing needs to be more conservative. In the spring, you can price higher and sell faster.
Get a Home Value Today and Advice to Prepare for Market
If you’re thinking of selling this year or next, we’d love to schedule an appointment with you to tour your home. We charge less than average commission and back it up with cancel anytime contracts for no charge. We always provide pro. photos, 3D, and more as best displays the home. We list on multiple MLS systems. Give us a call today to learn more, or chat with the bot on this site. We look forward to connecting!July 7, 2023