SW Portland Oregon homes are selling at a median speed of 20 days. The housing market trends suggest the market will stay slower as we head into year-end and speed back up around February 2024. If you're thinking about buying a home in SW Portland, now is the time to do it. If you're thinking about selling a home in SW Portland, you may want to wait until March 2024 when the market trends suggest the housing market will be faster and more in favor of home sellers.
Here's an excellent tip if you're buying a home or selling a home: Days-on-Market (DOM) is a critically important market trend because it instantly tells you the housing market's speed and the speed of the housing market tells you everything you need to know as a home buyer or home seller. If the location has a consistent DOM under 10 days, it's a fast-moving housing market with bidding wars and rising prices, also known as a seller's market. As the DOM increases above the 10-day mark towards the 20s or 30s, you can expect a slower housing market with less competition and the ability to negotiate prices, also known as a buyer's market.
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