Sherwood, Oregon Real Estate Market Update
We stay on top of all real estate market activity in Portland’s suburbs and report our findings to you in our Portland Suburb Real Estate Market Reports. The suburb of Sherwood, just 16 miles southwest of Portland, offers a unique lifestyle with easy access to city amenities, and we’ve deemed it one of the safest suburbs in the Portland metro area. In this article, we’re reporting on how the real estate market is performing in Sherwood, Oregon.
Sherwood, Oregon Decline in Real Estate Inventory
According to Fidelity National Title, as with pretty much all of Portland’s other suburbs, inventory in Sherwood is low, holding it in this perpetual seller’s market we’ve seen for the past two years.
Sherwood’s Real Estate Prices are Still Rising, but Slowing Down
While prices have increased slightly, the pace has slowed down to almost zero. This new trend tracks with our real estate news update in July 2022 about the slowing down of price increases across the country.
According to our searchable map of homes for sale, Sherwood has 67 homes for sale (at this writing) ranging from $150K to just under $800K.
A look at Realtor.com shows that homes in Sherwood, are selling for approximately the listing price.
Sherwood’s Average Days on the Market
According to Fidelity, Sherwood, Oregon homes are currently staying on the market about 36 days before going pending, and that number is rising.
Sherwood, Oregon Real Estate Market 2023 Forecast
While on a smaller scale, Sherwood is mirroring what we’ve been seeing across the board in Portland suburbs, and to some degree, across the country. The real estate market is starting to cool off this late summer after a scorching hot spring, and while the fall / winter season typically favors home buyers and the spring / summer typically favors home sellers in our area, the dramatic turn in the seasonal real estate market this year has been much more significant than in prior years. This has led to downrated real estate forecasts across the board. While Portland city property may be lucky to break even in 2023, we believe the suburbs around Portland will continue to outperform the city center as they did in 2021-2022, and forecast Sherwood, Oregon to having increasing prices in 2023 at a rate of 5%.
Interested in Selling or Buying a Home in Sherwood?
We have nearly 20 years of real estate experience in the greater Portland metro area, including tons of sales in Sherwood, Oregon. We would love to help you with your next real estate transaction. Our top 1% seller’s agents are happy to help you list your home and use our increased marketing strategy to get you the best price possible. Likewise, if you’re interested in making Sherwood your home, our top 1% buyer’s agents are here to show you around and help you find the perfect match. Call us direct or chat with the bot on this site. We’d love to connect!August 10, 2022