Is Portland, CT a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Portland is a seller's market

Buyer's
Market

Difference Since October 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, CT

How much do homes in Portland, CT cost?

Median Sold Price

$365,000

$201/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$65,000(+21.7%)

Key Takeaway

Homes in Portland have sold for 21.7% more than they did a year ago.

Summary: The median home sold price in Portland was $365,000 in October 2024, up 21.7% from last year, and the median price per square foot was $201.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $197.7K$146.5K
-25.9%
2 $260.5K$300K
+15.2%
3 $300K$350K
+16.7%
4 $389K$405K
+4.1%
5+ $432.5K$422K
-2.4%

Summary: Portland housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 25.9%, 2 bedroom homes increased by 15.2%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes decreased by 2.4%.

Median Sold Price Compared To Nearby Cities

Portland
+21.7%
Middletown
+10.0%
Cromwell
+6.2%

Housing Supply in Portland, CT

How many homes are available in Portland, CT?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2624-7.7%

Summary: The Portland real estate market had 24 homes for sale in October 2024, a 7.7% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 01
+100.0%
2 35
+66.7%
3 129
-25.0%
4 88
0.0%
5+ 31
-66.7%

Summary: The Portland housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 66.7%, 3 bedroom homes decreased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 66.7%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
125-58.3%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Portland, you could pay more than the asking price. 80% of homes here sold above asking price last month.

Summary: A total of 5 homes were sold or pending in Portland in October 2024, down by 58.3% month-over-month. Of the 5 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.

Days on Market for Portland, CT

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 2 Days Ago

Newest Listings in Portland, CT

Nearby Markets to Portland, CT

What housing markets are near Portland, CT?