Blog 2024 Real Estate Portland Market Update Late-March 2024

Portland Market Update Late-March 2024

By LeAnn Raschke, March 21, 2024

Find out what’s happening in the Portland real estate market for Late-March 2024.

 

Hi I’m LeAnn Raschke, a licensed OR & WA broker at Living Room Realty, here to tell you what you need to know about the market for late March 2024.

The Spring Market

With the re-emergence of the sun, the first day of Spring, and the cherry blossoms afoot, it’s hard not to notice Portlanders have a bit more pep in their step! Welcome to the spring real estate season, where the chill of winter thaws, and a new cycle of opportunity begins!

For Sellers, Spring is typically the ideal time to list your home. With longer days, warmer temperatures and gardens blooming, properties tend to show better, attracting more potential buyers.

With that, over the last 2.5 months, we’ve seen new listings slowly make their way to market. There has been an average of 72 new listings per week across the entire Portland Metro Market since the beginning of 2024.

Competition Returns

So, just as the Spring brings warmer weather, it also brings competition.

Buyers have now adjusted to the 6.5 – 7% interest rates, and they are awakening from their winter hibernation.

In our office, which holds the number one market share in Portland, we’re seeing multiple offers on new listings that are priced well and move-in ready.

Many lending experts are predicting that we won’t see rates fall much further through the end of the summer.

In this ramp up to a busy season, it’s crucial for buyers to act fast and for sellers to price their homes strategically.

Connect With Your Agent

Buyers, in this market, now more than ever, it is crucial to have a knowledgeable buyers agent on your team. We will help you navigate this wild time by providing up-to-date information on new market listings, getting you to the negotiating table with strategically strong offers and guiding you gently through to closing.

If the buzz of competition isn’t for you, this is a great time to schedule a strategy session with your agent to examine your home buying goals so you’re in a better position when you are ready to take flight.

 

Make A Move

Whether you’re buying, selling, or simply dreaming about your next move, give us a call today. We’d love to help you find your next Living Room.

 

LeAnn Raschke

Broker | OR

She/Her

As your dedicated broker at Living Room Realty, I merge my passion for real estate with my love for art, craftsmanship, and diverse architectural styles. My greatest fulfillment comes from empowering others—especially first time homebuyers, creatives, and small business owners—to attain financial independence through home-buying and strategic property investments in Portland and its beautiful surroundings. Whether it's matching clients with their dream vintage bungalow or sleek contemporary condo, I take pride in imparting the knowledge and skills necessary to transform dreams into reality. “Life is a canvas, and you are the artist. Your home is the masterpiece where every stroke of love and every shade of experience creates the artistry of your existence." - Unknown When I'm not out real estating, I'm hanging out with my dogs, making things out of clay or riding scoots w/ my hb!
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  • T: 503-442-1756
  • leann@livingroomre.com

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