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  • Writer's pictureSheryl Lyons

SPEEDY PACE OF THE HOUSING MARKET in Portland, OR & surrounding cities! ๐Ÿก๐Ÿ“‰๐Ÿƒโ€โ™€๏ธ



Days-on-Market (DOM) is a critically important trend because it instantly tells you the speed of the Housing Market, and the speed of the Housing Market tells you everything you need to know as a home buyer or seller. If the location has a consistent DOM under 10 days, it's a fast-moving market with bidding wars and rising prices. As that DOM increases above the 10-day mark towards the 20s or 30s, you can expect a slower market with less competition and the ability to negotiate prices.


Days on Market - May 2022 to 2023 - Portland OR and surrounding cities

In April 2023, eight locations (North Portland, NE Portland, SE Portland, SW Portland, NW Portland, Beaverton, Lake Oswego, and Milwaukie) have a DOM under 10 days.


Days on Market Map - April 2023 - Portland OR and surrounding cities

In May 2023, eight locations (North Portland, NE Portland, SE Portland, SW Portland, NW Portland, Hillsboro, Beaverton, and Milwaukie) also have a DOM under 10 days.


Days on Market Map - May 2023 - Portland OR and surrounding cities

When we compare the month of May from 2019 to 2023, May 2023 is noticeably slower than May 2021 & 2022. But it's equal to or slightly faster than May 2019 & 2020.


Days on Market Trend - May 2019 to  May 2023 - Portland OR and surrounding cities

Given the higher mortgage rates, it's surprising how fast our current Housing Market in Portland, OR, and the surrounding cities is moving.


Mortgage Interest Rates - May 2020 to May 2023

So what does this tell us? The Housing Market in Portland, OR & the surrounding cities is speeding up, and the buyer bidding wars are back on the scene.



See Homes for Sale by Location - No need to search. Results ready-to-go! ๐Ÿก๐Ÿ™‹โ€โ™€๏ธ

๐Ÿ‘‰ CLICK HERE


See Homes for Sale by Price - No need to search. Results ready-to-go! ๐Ÿก๐Ÿ™‹โ€โ™€๏ธ

๐Ÿ‘‰ CLICK HERE



This video is part of a series called Trend Watch, where I create a set of videos featuring the most critical Housing Market trends and run them every month so that you can understand how trends work and watch the changes month by month.


I hope you find this information helpful.


Please remember I'm always here for any questions. ๐Ÿ˜ƒ


Take care, Sheryl

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