Portland homes spending more time on the market

The frenzies of pandemic housing shopping sprees, where buyers would snap up homes in what seemed like milliseconds, are becoming ever distant.

Portland metro homes are spending more time with for-sale signs out front while the market continues to cool.

The total market time for homes in the metro in July was 33 days, up 13 days from the same time in 2022, according to data from the Regional Multiple Listing Service, which tracks housing data for the region.

It’s yet another indicator of a slowing housing market compared to last year, as interest rate hikes dissuade buyers.

Sale prices have been on the downslide as well. The median home sale price in the metro stood at $549,900 this July, compared to $566,000 a year ago, falling 2.8%, according to RMLS data. This July’s median sale price was also lower than June 2023’s $559,900.

As in June, listings and sales fell across the board on a year-to-year basis.

The List

Rank Prior Rank Name / prior rank / URL

1

1

Cascade Hasson Sotheby’s International Realty

2

2

Premiere Property Group LLC

3

3

Windermere Realty Trust

View this list

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