“The market has slowed; houses are spending more time on market. If you list your home, be patient.” That’s become a familiar tone in the Portland real estate market in the last few months. There is some truth to that. January’s RMLS Market Action, the most current issue, says that Days on Market in December was up to 65, that’ significantly higher than December 2005’s 44.
There were only 2% few pending transactions so houses are still selling. Accurate pricing is more important than ever. The house across the street from us was pending in just four days (listed by our neighbor who is also a Realtor). There are more listings, an additional 500 added in December which confirms our previously anecdotal statement that we were much busier in December than previous years.