Trulia Portl…, Home Buyer in Portland, OR

What is the average number of days a home is currently on the market in Portland?

Asked by Trulia Portland, Portland, OR Thu May 16, 2013

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EdithJasser YourRealtor4Life’s answer
A simple answer can not be given to this generic question for a variety of reasons.
Each property is different, in size, in style, in age, in construction, in location, in updates, in lot size and
in amenities, what would a generic number of days on the market do for anyone.

One well priced, well maintained property in a great location, on a great lot goes under contract in a day or two, and another one for whatever reason takes 180 days...... what is the average doing for any seller or buyer, unless like properties are compared in like locations etc.

Sincerely yours,
Edith YourRealtor4Life & Chicago and Northern Illinois Expert

Working always in the very BEST interest of her clients, Buyers, Sellers and Investors alike....
And always with a SMILE 
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the US and worldwide properties. Edith speaks French, German, some Spanish and other.....
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0 votes Thank Flag Link Fri May 17, 2013
In the latest April market action report that came out this week it shows Portland's (Tri-County area) average DOM is 91.
However, days on market vary greatly from neighborhood to neighborhood.
Also, median is a better and more accurate way of calculating what you can expect in our current market. The difference between average and median can be drastic. For example: if you have had a short sale house that was on the market for 250 days then it would bring the average down, but this wouldn't be an accurate number for a traditional sale in the same area.
If there are specific areas or neighborhoods someone is interested in then your local Realtor can help you get specific numbers for the property.
0 votes Thank Flag Link Fri May 17, 2013
Location and price will dictate how long a house is on the market. When you look at average days you also look at short sales that could be on the market with numerous sale fails when banks are starting to counter offers 20-30% higher than the agreed to price with the sellers since they know the prices are going up and the buyer might just agree to the counter because they are tired of waiting. I can
be much more specific just give me a call. Tom inglesby, broker, RE/MAX
0 votes Thank Flag Link Thu May 16, 2013
The market is interesting right now because of low inventory a property can go pending in a day depending on condition, location and price... It can also take up to 120 days same criteria.
If you'd like to talk more I'd bd happy to share more information and statistical resources. Free market analysis of your home on our site to help you see your property value.
0 votes Thank Flag Link Thu May 16, 2013
91 days in Portland, as of the most recent RMLS Stats (from April)
0 votes Thank Flag Link Thu May 16, 2013
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