Portland Real Estate Market Update Early-November 2023

Find out what’s happening in the Portland real estate market for Early-November 2023.

Hi, I’m Jessica Ward, licensed real estate agent with Living Room Realty. Here to tell you what you need to know about the market for Early November 2023.

The Holiday season is among us and if you’re serious about buying, selling, or investing in real estate, right now is the coziest time of year for finding your new Living Room. As your expert home girl, I’m here to break down what’s happening in Portland right now.

Market Action Index

As real estate agents, we use The Market Action Index to help showcase the balance between supply and demand. Currently, the Market Action Index for single family homes is 41 and 33 for condos.

Compared to previous months, November marks a decrease in the Market Action Index for single family homes. However we’re still leaning towards a Seller’s market. This is great news for anyone considering listing their home in Portland, which currently has 1,322 available homes with a median list price of about $679,000.

Good News For Buyers

Now, let’s talk about some good news for all you buyers out there. As the hot market continues to cool down, mainly due to changing interest rates, the average number of days a house sits on the market has increased to just under 90 days. What does this all mean for you?

Well, more inventory means you have more choices, and this extended time on market provides you with more room to have your expert realtor negotiate on your behalf and find a deal that suits both your budget, and your preferences.

We’re currently seeing an influx of price reductions, closing cost and repair credits, as well as seller paid interest rate buy-downs. So, remember that the holiday season brings the gift of unique opportunities.

Sellers, you’re in a good position with the overall market in your favor. And buyers, it’s an EXCELLENT time to explore more favorable terms and less competition than previous years.

Make A Move

Living Room Realty is committed to connecting you with as much information to help you make an informed decision. If you’re ready to make a move, give us a call today. We’d love to help you find your next Living Room.

Jessica Ward

Broker | ADU Specialist | OR & WA

She/Her

My life is fueled by a profound passion for serving others and making a positive impact on my community.

https://youtu.be/x1kSQm5UdQo?si=Wam5-ZRcj3VTRn_g I’m a Great NW native and— five years into this industry—a broker known for delivering results while making people feel genuinely taken care of. I grew up in Portland and Southwest Washington, and I know this market—its neighborhoods, culture, pricing nuances, and opportunities. That lived understanding informs every recommendation I make. I’m inclusive of all people, price points and committed to creating a space where clients feel safe, respected, and fully themselves. I’m a mother to my daughter, Wynter Katie, and a dog mom to a very cute Yorkshire terrier, which keeps me grounded in real life and real perspective.

When I’m not working, you’ll find me hiking in the Gorge, wine tasting in the Willamette Valley, dining at local restaurants, hosting social gatherings, perusing an art gallery, flowing through hot yoga, drinking a good hazy IPA at a brewery, listening to an audiobook or podcast, attending a networking event, chaperoning my daughters field trips. boating on the river, or unwinding at local spas and bathhouses.

I stay deeply connected to my community through volunteering and board participation. I’m especially passionate about children’s needs—particularly those involved in the foster care system—climate impact and sustainability, justice and equity for people of color, and mental health advocacy.

My clients consistently rate their experience with me five stars, whether they are buying selling or simply attending one of the first time home buying classes I host for free to educate and empower the community. I’ve been called the “queen of resources and connections,” and I take that seriously. I’m known for navigating down payment assistance programs, grants, ADUs, seller financing, and non-traditional paths to ownership with ease and clarity. Think polished expertise with a side of “I got you.” Access is power. Education is leverage. And I believe everyone deserves both. I’m also a real estate investor who manages my own properties, including an ADU, so my guidance is grounded in lived experience. I understand long-term value, cash flow, development potential, and creative strategy—not just on paper, but in practice. As a black woman in real estate, I lead with excellence and purpose in an industry where representation is still very rare. I’m honored to be the first African American broker in Oregon state history to close a transaction with a Black-owned title and escrow company, but my greatest accomplishment is impact—helping clients secure stability, build wealth, and step confidently into ownership. I run a tight ship—transparent, strategic, and supportive—but don’t get it twisted, we’ll laugh too. I bring luxury-level service without the stiffness. Professional polish with real and genuine personality. To me, real estate isn’t just about property—it’s about security, freedom, and community. And when you work with me, you’re not just closing a deal… you’re building something bigger. Follow along: @Jessica_TheHomeGirl

---

What Clients Are Saying:

Clients consistently share that working with me feels:

• Supportive and steady, even in high-pressure moments

• Clear and transparent, with no unanswered questions

• Strategic and informed, particularly during negotiations

• Personal, never transactional

First-time buyers say they felt educated and empowered. Sellers value my pricing insight and communication. Investors trust my numbers, perspective, and long-term thinking. Five stars—because the experience is intentional!

---

Affiliations and Accolades:

• ADU Specialist
• Earth Advantage Certified
• Portland NAACP (Member)
• LRR Diversity Chair Award Winner
• Lents Neighborhood Association (Former President)
• Youth Rights and Justice (Board Member & Sponsor)
• Asian Real Estate Association of America (Member)
• National Association of Real Estate Brokers (Member)
• Portland Metropolitan Association of Realtors (Member)
• Broker Advisory Group at Living Room Realty (2024-2026)

 

Read More

• T: 971-230-8164
• jessicaw@livingroomre.com