Portland homebuyers are scoring deals — but prices remain high
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The average discount for Portland homes that sold below their original asking price last year was 6.6% — the largest such gap since 2012, according to a Redfin report.
Why it matters: Still-high mortgage rates and home prices have sidelined many shoppers. But those who remain in the market are scoring the biggest deals in years.
State of play: Nearly 59% of Portland homebuyers last year paid less than the listing price, Redfin data shows, with a median original list price of $569,000.
- It's a buyers market, if you can afford it, with a record 47% more home sellers nationally than buyers in December, per Redfin, giving house hunters more options and negotiating power.
The bottom line: Buyers may be able to look a little outside of their budget, said Redfin senior economist Asad Khan, "because there's a good chance they'll get some sort of concession from the seller, be it a price cut, money toward closing costs or funds for repairs."