Is Portland, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Portland has remained a Seller's Market.
Key Takeaway
Portland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Portland, TN
How much do homes in Portland, TN cost?
Median Sold Price
$327,500
$225/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Portland have sold for 5.7% more than they did a year ago.
Summary: The median home sold price in Portland was $327,500 in March 2024, up 5.7% from last year, and the median price per square foot was $225.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $164.9K | $136K | -17.6% |
| 2 Bedrooms | $209K | $232K | +11.0% |
| 3 Bedrooms | $310K | $318.7K | +2.8% |
| 4 Bedrooms | $370K | $472.4K | +27.7% |
| 5+ Bedrooms | $472.5K | $505K | +6.9% |
Summary: Portland housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 17.6%, 2 bedroom homes increased by 11%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 27.7%, and 5+ bedroom homes increased by 6.9%.
Median Sold Price Compared To Nearby Cities
| Orlinda | $339.9K | $424K | +24.7% |
| Portland | $309.9K | $327.5K | +5.7% |
Housing Supply in Portland, TN
How many homes are available in Portland, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 123 | 123 | 0.0% |
Summary: The Portland real estate market had 123 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 103 | 97 | -5.8% |
| 4 Bedrooms | 16 | 21 | +31.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Portland housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 5.8%, 4 bedroom homes increased by 31.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 24 | 29 | +20.8% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Portland, you may be able to get a good deal. 48.3% of homes here sold below asking price last month.
Summary: A total of 29 homes were sold or pending in Portland in March 2024, up by 20.8% month-over-month. Of the 29 sold homes, 48% were sold under asking, 31% were sold at asking, and 21% were sold over asking.
Days on Market for Portland, TN
How long does it take to sell a home in Portland, TN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 27 Days | 59 Days | +117.7% |
Summary: Homes in Portland had an average of 59 days on market in Mar 2024, up by 117.7% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Portland are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 29 homes were sold in Portland; 38% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved.