If you’re thinking of selling a Portland home, a new study will be of interest to you. This study found that homes sold in late spring, defined as May 1st through 15th, sell on average 18.5 days faster and for one percent more of the listing price than homes sold at other times of the year. Low inventory is a major factor determining the speed of sales as well as prices. The metro Portland real estate market is very competitive, with buyers usually looking at many homes and putting in several offers in a short time frame. Experts believe that the increase in selling prices, as well was the quick selling times, reflect the fact that buyers are getting more impatient later in the home buying season. Buyers are often willing to pay a premium price in order to make sure they secure a home.
Metro Portland Real Estate Prices Affected by Weather
The other thing to consider when selling a Portland home is weather. Markets with distinct seasons, like the Portland area, see the biggest difference in prices, depending on the season in which a house is sold. Sellers who have some flexibility about when to put their homes on the market should consider these factors carefully. Be sure to have a discussion with an experienced real estate agent to help determine the best time to put your home on the market.