T
he Portland real estate market is experiencing a mixed bag of news for homebuyers. According to Redfin, the inventory of residential properties for sale across the US has reached a five-year high, typically indicating more choices and less competition. However, this surge in listings also includes a large number of overpriced and undesirable homes that are lingering on the market.

    Portland metro real estate agent Meme Loggins notes that while well-priced and well-maintained homes are selling quickly, often within three to five days, overpriced properties can sit for months. This trend suggests that buyers are being cautious in their purchasing decisions, prioritizing quality over quantity.

    A prime example of this is a three-level Craftsman house in Multnomah Village, which was one of Redfin's most viewed Portland properties for sale before experiencing a price drop on December 29.