Housing Market News for January 2024 - Portland Metro

January 2024

A Bird's Eye View:

January showed a slight increase in new listings from last year, a significant post-holiday rise from December 2023. Pending sales dipped compared to last January but rose from the previous month. Closed sales also saw a modest year-on-year increase but fell from December's numbers.

For Prospective Buyers:

The inventory expanded to 3.2 months, and market time lengthened to 68 days. This indicates more options and potentially less competition for buyers, a shift from the previous tight market conditions.

Sellers, Here's Your Takeaway:

The market is balancing, with a steady demand reflected in the slight increase in closed sales and a rise in both average and median sale prices since last year. This points to a continued growth in property values.

Conclusion:

January's market dynamics suggest balanced activity with moderate price growth. Understanding these trends is crucial for making informed decisions in Portland's real estate landscape.

Dive into Portland's real estate market with a personal touch from Campbell Salgado Real Estate Group. When you work with Kim and Francisco, you're not just getting agents; you're gaining partners who blend artistic insight with market acumen. Whether you're dreaming of a new home or planning a sale, experience a tailored approach that respects your unique story. Visit us at soldbysalgado.com and start your journey with a team that's as unique as Portland itself. Reach out to Francisco and Kim for innovative solutions to all your real estate needs by calling or texting us at 503-951-8547.